Message-ID: <10603457.1075857597605.JavaMail.evans@thyme> Date: Thu, 28 Sep 2000 10:38:00 -0700 (PDT) From: john.arnold@enron.com To: jennifer.fraser@enron.com Subject: Re: PIRA Annual Seminar Preview Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: John Arnold X-To: Jennifer Fraser X-cc: X-bcc: X-Folder: \John_Arnold_Dec2000\Notes Folders\'sent mail X-Origin: Arnold-J X-FileName: Jarnold.nsf Thank you for sending this. If only you sent it a couple hours earlier. Just kidding. T Boone must have heard this because he sold everything today. 9000 contracts. John From: Jennifer Fraser 09/28/2000 03:35 PM To: John Arnold/HOU/ECT@ECT cc: Subject: PIRA Annual Seminar Preview Hey JA: I was at PIRA today and got a preview of their presenation on Oct 11-12 for their client seminars. (Greg Shuttlesworth) Summary: They have turned a little bearish becuase They believe that distillates will cap gas ( get some to graph HO, CL, NY No.6 1% and TZ6 Index and NX3) the picture is very convincing Supply is increasing at a faster pace (1Bcf/d more in Q4 and expect incremental 2 BCF/d next summer) Canadian production is increasing Deep water GOm is increasing Lastly, Shallow water GOM is also improving after years of decline Demand modest in 01/02 more efficient gas turbine economic moderation Near term Yes it looks a little ugly this winter Possibility of shocks in the shoulder ( low storage and early summer heat in Apr-May 01) Call me or write if you call for more details. I am also faxing you their fuel substitution slide---- it looks at up to 5 BCF/d being put back into the supply chain. Thanks JF