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Enron Mail |
i think jv strip prices to where we price out enough demand to get to 2.8.
whther that price level is 425 or 725 is arguable. i think it's close to here. but when we get to november and we have 2.8 and don;'t repeat the weather of this past winter and we have 2.5 bcf more supply and people realize that we have 2.3 bcf to withdraw before there are any problems...bombs away. From: Jennifer Fraser/ENRON@enronXgate on 03/07/2001 01:00 AM To: John Arnold/HOU/ECT@ECT cc: Subject: RE: Why do you think nov mar is worth $3.75? Also whats your schedule looking like next week----care to meet for a beverage? Jen Fraser Enron Global Markets Fundamentals 713-853-4759 -----Original Message----- From: Arnold, John Sent: Tuesday, March 06, 2001 5:03 PM To: Fraser, Jennifer Subject: Re: What it's trading what I think it's really worth apr oct 540 500 nov mar 547 375 cal 2 491 400 cal 3 460 325 Obviously most bearish the further out you go. However, the game right now is not sell and hold...although it will be soon. The game is where will it be tomorrow and next week and next month. The market is structurally short term gas thanks to our friends from california. where ca is buying power, williams and calpine and dynegy dont care of the gas costs 450 or 475 or 500 or 525. irrelevant. so term is not going down in the short term unless the front comes into the 400's and scares some producers to start hedging or we or el paso can find fixed price lng to the tune of 250,000 a day for 10 years. From: Jennifer Fraser/ENRON@enronXgate on 03/06/2001 10:37 AM To: John Arnold/HOU/ECT@ECT cc: Subject: what are your thoughts on ap-oct nov-mar 02 03 price levels and outlooks thanks Jen Fraser 713-853-4759
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