| | ROYALE REPORT - 1st Qrt 1998 |
 | | Jeffries and Company, Inc., a leading Wall Street investment firm specializing in energy stocks, in their January 7, 1998, Equity Research newsletter gave an excellent analysis of the near term outlook for natural gas prices. |
 | | "Natural Gas Outlook - It's Deja VuAll Over Again The notable run-up in natural gas prices followed by a sharp weather-induced decline over the past six weeks is reminiscent of the early months in 1997. |
 | | However, today (as last year) the fundamentals of the natural gas industry have not changed; a tight balance between supply and demand remains. |
| www.royl.com /news_info/nl/nl9803.htm (2514 words) |