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From:deanrogers@energyclasses.com
To:chris.germany@enron.com
Subject:Derivatives for Energy Professionals, 8/6-7, Early Bird till 7/8,
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Date:Tue, 25 Jun 2002 01:17:22 -0700 (PDT)

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Derivatives For
Energy Professionals



Two Full Days, August 6-7, 2002
Early Bird Special Deadline is July 8th
Houston, TX


Energy 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

_____

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

<http://www.kaseco.com/images/video.jpg<;


Early Bird Deadline for
August 6-7 Class is July 8th


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 <http://www.kaseco.com/classes/derivatives.htm<;


_____


<http://www.kaseco.com/images/house_blue.gif< Kase and Company also offers In House Training Classes. For more information about Kase In House Training Classes please email us at:
kase@kaseco.com <mailto:kase@kaseco.com<
(505) 237-1600.
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