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Broadridge Financial Solutions, Inc. Message Board

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  • cajun_in_tx cajun_in_tx Aug 4, 2000 11:56 AM Flag


    Copied from message #2219

    From footnote #
    4 to the 12/31 annual report:

    The hedging
    contracts for year 2000 show 164,065,000 MMBTU at $2.43,
    then the hedges drop down to 91,345,000 MMBTu at $2.35
    for year 2001, then
    only 2,530,000MMBTU at $2.57
    for year 2002.

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    • cajun in tx and gasisthefuture and wiggly...,
      yes, we have seen the published hedges, even broken
      out by quarter in 2000, but seemingly no rational
      person can decipher how br received less $$ for its ng
      in 2Q00 than its disclosed hedge price. you know,
      someone from br investor relations could really help out
      on this. he/she does not need to enter into any
      discussion with this board. he/she could just publish some
      simple facts and explanation, and let that speak for

      i imagine it is assumed by most of you readers that
      br is letting the $2.50 hedges run off and that br
      is getting a much higher wellhead or better market
      price for the unhedged ng it is selling today and in
      the future. a perverse thought occurred to me some
      weeks ago. since br has this hedge tactic (a habit i am
      sure some powerful manager strongly believes in and
      justifies strongly, factually, and politically within br
      management), perhaps br has continued the hedging, albeit at
      higher prices. so i wonder if br likes the above $4.00
      prices so much now that they might have hedged the 4Q00
      & 1Q01 production such that br would not have the
      ability to sell at top dollar this winter when/if we have
      the $5 to $8 dollar prices that many predict and
      expect with winter shortages. when i looked at the
      numbers from many, many other ng producers this past
      quarter, it was amazing how close to top dollar many of
      the larger ones were getting. i am not bitching. i am
      making reasonable statements and posing reasonalbe
      possibilites. investor relations should get involved on this

      on another note it appears br has fewer or maybe no
      cheerleaders on this board, and that may signify a decent
      bottom has formed. it's good to see some pom poms have
      left the board. still br is isn't moving up with the
      rest the past few days. drilling in west africa press
      releases are not endearing. is that going to be LNG some
      day or is that for oil? if br jacks up production in
      the madden fields and canada fast, the analysts and
      shareholders will like that a lot. how hard could this be to
      connect the dots?

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