Comeback

Fourth quarter earnings expectations for Calgary-based Precision Drilling Corp. were cut nearly 70% (by C31-37 cents/share) on Wednesday because of lower-than-expected Canadian drilling activity. However, on a positive note, Precision said strengthening natural gas and world oil prices will position it to take advantage of a stronger Canadian market by the first quarter.

In a blistering comeback to Enron Corp.’s lawsuit against its former merger partner, Dynegy Inc. attorneys last week filed a 51-page response in U.S. Southern District Bankruptcy Court of New York to answer charges that Dynegy had been responsible for Enron’s downfall.

In a blistering comeback to Enron Corp.’s lawsuit against its former merger partner, Dynegy Inc. attorneys Monday filed a 51-page response in U.S. Southern District Bankruptcy Court of New York to answer charges that Dynegy had been responsible for Enron’s downfall.

Buoyed by a much firmer screen and the pickup in load thatfollows a long Labor Day weekend, cash prices rose Tuesday by anickel or more at almost every point, with most of the increasesexceeding a dime. Not only did natural gas futures rise more than adime, but the crude oil futures contract for October also flexedits muscle with a jump of slightly over 60 cents, placing it wellabove $22/bbl, a marketer pointed out.