Analyst Olson Envisions 'Golden Age' for Producers at GasMart 2004, hosted by Natural Gas Intelligence.

Energy Editors/Business Editors

GasMart 2004

DULLES, Va.--(BUSINESS WIRE)--March 18, 2004

The 10-year outlook for domestic gas and oil production companies is "probably about the strongest of any industry," according to Sanders Morris Harris analyst John Olson, who will be explaining the positive outlook at GasMart 2004, hosted by Natural Gas Intelligence (NGI).

"Any way you cut the deck, the gas cycle is very positive for the producing sector in the United States and the same thing applies in Canada as well."

Wellhead revenues over this decade are expected to be near double that of the 1990s. There's no shortage of conventional drilling opportunities. And investors are recognizing the value inherent in the industry. Year-to-date, E&P sector stocks are up 6% while the rest of the market is down about one-half of 1% given the tumble of the last week or so.

"For once it looks like the tables will be turned and (E&P companies) will just have a huge flow of money coming in over the transom largely because of these wellhead revenues," Olson said in an interview with NGI.

Overall the outlook is good. The E&P industry can expect $150 billion in annual revenues through 2010 compared to only $83 billion in the 1990s, Olson said.

Other highlights of GasMart 2004 - the 18th annual event:

Keynoters

-- Keith Rattie, chairman of Questar, will lead off a discussion

on promising supplies from the Rocky Mountain area

-- Scott A. Nauman, Americas Gas Marketing Manager for ExxonMobil

Gas Marketing Company, will discuss how new LNG supplies are

expected to blend into the gas supply portfolio gradually, as

other sources decline.

-- FERC Commissioner Joseph T. Kelliher will advise on how he

sees the Commission dealing with regulatory issues impacting

natural gas, such as approval of LNG terminal operations,

pipeline construction, pipeline gas specifications, and gas

pricing.

-- Olson and Stu Wagner of Petrie Parkman will outline "Wall

Street and the Gas Cycle" for a GasMart luncheon audience

Sessions

-- Representatives of ChevronTexaco and Shell, will give an

update on the world LNG market and their separate plans to

build LNG receiving terminals offshore in the Gulf of Mexico.

An analyst from ESAI will be explaining how much the LNG will

cost.

-- Ron Arnold, author of the book, "Undue Influence," will advise

on how the national economy is being undermined as overzealous

environmentalists campaign to restrict access to resources and

block transportation facilities, boosting energy prices and

making U.S. products uncompetitive in the world market.

-- Advice on "Buying and Selling at Fair Market Prices," will

come from ConocoPhillips, NiSource, the American Gas

Association and Procter & Gamble

-- Representatives of Kinder Morgan, TransColorado Gas

Transmission, Colorado Interstate Gas and Gas Transmission

Northwest will discuss where and how the Rockies gas is going

to market, and

-- Alan H. Levine of Morgan Stanley will show buyers of natural

gas market timing and strategies for procuring their supply in

a market marked by resurgent demand and uncertain supply.

About Natural Gas Intelligence

GasMart is hosted annually by Natural Gas Intelligence, the flagship publication of Intelligence Press, Inc., which has been reporting news and prices in the competitive energy market for more than 20 years. Check out http://gasmart.com for more conference information or visit http://intelligencepress.com for natural gas news. Sponsorships and showcase opportunities are still available.