Derivatives For
Energy Professionals 

Two Full Days, April 9 - 10, 2002
Early Bird Special Deadline is March 11th
Houston, TX

For More Information Go To
www.kaseco.com/classes/derivatives.htm 


Energy and Power Consumers and Producers? 

Are you a consumer that hesitated to buy forward in 2000 or bought too soon last year?  Are you a producer who hedged too early in 2000 and did not hedge enough in early 2001?  Did you take undue credit risk because you did not know how to estimate exposure?  Are you comforting yourself with the fact that you did not hedge to make money?  Let's face it - you did not hedge to lose money either.  Kase's Derivatives for Energy Professionals will provide you with the indispensable strategies and tactics you need to avoid costly errors and equip you to make the important hedging decisions necessary for survival in today's treacherous marketplace. 

Content
*	The Derivatives Market 
*	Buying and Selling Forward 
*	Hedging Long and Short Positions 
*	Trigger Deals, EFP's, Swaps 
*	Hedging Spreads and Basis 
*	Volatility and Options 
*	Hedging with Options 
*	Hedging with "Exotics" 
*	Market Behavior in Favorable Price Environments 
*	Market Behavior in Adverse Price Environments 
*	Developing a Strategy to Match Risk Appetite 
*	Selecting Appropriate Instruments 
*	Developing Policies and Procedures  



In This Class You Will Learn About 

*	How futures and OTC derivatives work
*	Hedging prices, basis, margins, and spreads 
*	Math for volatility, VAR, Monte Carlos 
*	Options, including puts, calls, floors, caps, synthetics, and more 
*	Cost-reducing hedge strategies, such as three-way collars, option spreads 
*	How the market behaves, including how long bull and bear markets typically last, how contango or backwardation effects hedging, the impact of removing hedges 
*	What hedge maturities should be used 
*	Considerations for custom strategies 
*	Developing policies and procedures 

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Registration Fees Include a Copy of Kase's video "Effective Risk Management"



Early Bird Deadline is March 11

Early Bird Special:  $895.00 
Two or More Early Bird:  $825.00
Regular:  $995.00
Two or More:  $895.00 

Marriott West Loop, Houston 

$135 Per Night   Kase Class Rate
(713) 960-0111 Reservations Phone
(713) 624-1517 Reservations Fax
1750 West Loop South
Houston, TX  77027 

For More Information Go To
www.kaseco.com/classes/derivatives.htm   





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