Enron Mail

From:john.arnold@enron.com
To:jennifer.fraser@enron.com
Subject:Re: PIRA Annual Seminar Preview
Cc:
Bcc:
Date:Thu, 28 Sep 2000 10:38:00 -0700 (PDT)

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