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	ROTARY CLUB August 25, 1988

Mesa story:
—$2,500 in 1956, largest independent today
—$310 mm annually, 150,000 owners
—$87 mm annually, 355 employees

Mesa stresses:
—Employees work for shareholders
—Employee ownership
—Fitness
—Competition
—Community involvment

Mesa operations. . .really very simple:
—Interests in 5,000 oil & gas well. . .12 states, offshore and in Canada
—Reserves. . .2.5 Tcf, about 80% gas
—Future of industry & Mesa. . .natural gas, not oil
—Gas is clean, abundant. . .will sell at premium ($5) by 1995
—$3-gas in late ’89
—No exploration until $10-gas
—I’ll never see 2000 rigs again

Q & A