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Dorchester Hugoton, Ltd. (DHULZ) Message Board

  • rrb1981 rrb1981 Apr 19, 2001 4:41 PM Flag

    Another question for Javelin

    If you don't mind saying, how long have you held this stock. I only ran across it 3 or 4 months ago and occasionally would check the chart and read profile on yahoo and several other sites. The real thing that puzzles me is how long can these wells be productive. I see that all or most have been pumping since 1954. Thats a long time!! I live in SE Texas and I've seen some wells that have been pumping for a long time but they are small ones, and I doubt they have been going 47+ years. Anyway,I guess thats all I can think of right now. Thanks.

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    • I have been in DHULZ ever since 1982 when it was a spinoff of Dorchester Gas. My initial interest came about because I owned DGAS that later was bought out by another oil/gas operation. The quantity I have owned has varied greatly during that time. During the middle '80s, I owned very little because the huge gas bubble at that time kept gas prices very low. Gas was simply not interesting at that time. Finally, the gas bubble has been worked off - that explains the serious energy problem we have today.
      Looking at the DHULZ reserve data on page 28 of the 2000 10-K suggests that there is at least 10 years of production - probably much more when well fracturing is economically sensible to do. Natural gas has simply not been very interesting when compared to the go-go stock market. But today's investors should be very interested because of the seriously eroding national energy crisis.
      Today's W.S. Journal article on the government request (Bonneville Power Adm.) that 40% of the U.S. aluminum production in Washington be shut down for 2 years is really quite remarkable.Granted, a lack of rainfall in the northwest is the problem at this time but the article suggests that a continuous, reallocation of energy usage within the U.S. economy will continue for some time. Clearly, natural gas (along with conservation) are critical elements in helping to mediate the energy problem in the near term. Expanded nuclear generation of electricity is the long term solution (5 to 10 years).
      Here in CA., our politicians want the Fed. government (FERC) to re-regulate wholesale natural gas prices - exactly the opposite of the fight 20 years ago to deregulate in order to encourage new drilling. The gas bubble resulted from new drilling. These politicians have lost their minds!

 

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