Luncheon – January 7, 2000

Title: Oil and Gas Outlook Entering the New Millennium

Speaker: Paul R. Leibman, Petrie Parkman & Co., Denver, CO

Date: January 7, 2000

Publication: The Outcrop, January 2000, p. 4

In the context of a broad overview, this presentation will review the outlook for the petroleum industry entering the new century. Topics to be covered will include the forces influencing the recent behavior of oil and gas prices and Petrie Parkman’s assessment of future pricing trends, historical and future exploration and production spending on a worldwide basis, mergers and acquisition activity in the petroleum sector, and a capital markets perspective that will entail a discussion of the stock market performance of energy securities in recent years and the current conditions in the public
capital markets for equity and debt financing.