VIBRANT OUTLOOK FOR
CANADIAN OIL & GAS INDUSTRY

DATE: Thursday, November 17

TIME: Registration: 11:15 a.m., Luncheon: 11:45 a.m., Speaker: 12:15 p.m.

LOCATION: The Fairmont Palliser Hotel, 133 – 9th Avenue SW

COST: $35 Members and Guests, $17 Students

GUEST SPEAKER: Josef Schachter, Schachter Asset Management Inc

Oil and Gas Fundamentals have reached their pinch point where overall world demand is now greater than world supplies. Until sufficient capital is spent to bring on new supplies and infrastructure of pipelines, tankers and refineries, commodity prices will remain high. They may go higher if weather factors are worse than expected or supplies are disrupted by terrorism or other unforeseen events.

• Demand for energy in winter 2005/06 will be greater than supplies therefore inventories will draw down quickly. The larger the weekly decline in inventories the higher commodity prices will go.
• Sufficient capex in the industry, just to replace declines, is not being spent. To replace declines and provide for demand growth into the end of the decade will require capex to be increased by over 50% from current planned spending levels.
• The biggest demand growth will come from the emerging economies of China and India. Around 50% of demand growth will come from these rapidly growing countries.
• We need to spend more money on drilling exploration wells and build the needed infrastructure to get the product from where it is to where it’s needed.
• This cycle has been on for a few years but it will continue into the next decade before supplies will grow sufficiently.
• Investment opportunities are robust and investors have not seen the “euphoric” phase yet.

To ensure adequate seating, please pre-register with the Calgary APEGGA Office at 262-7714 prior to Friday, November 11, 2005. Calgary Branch accepts Visa, MasterCard, or American Express for tickets sold prior to the day of the event.

APEGGA is a sponsor for the CSEG DoodleTrain Keynote Luncheon Address

DATE: Monday Oct 31, 2005

TIME: 11:30 am

LOCATION: Metropolitan Centre in Calgary

SPEAKER: Professor Enders A Robinson, Professor of Geophysics Columbia University Address: “Geophysical Exploration – Past and Future”

Prof. Robinson gained international prominence in the early 1950's when he was the founder of the Geophysical Analysis Group (GAG) at MIT. GAG research lead to the digital revolution in geophysics a decade later. Robinson published more than 25 books on digital signal analysis, seismic data processing and wavelet estimation. Robinson helped found Digicon in 1965; there he developed the first commercial programs for academic positions, including the McMan Distinguished Professor of Geophysics at the University of Tulsa.

Professor Robinson is the highest honored scientist in the field of geophysics. He is a recipient of the SEG's Reginald Fessenden Award 1969, the EAEG's Conrad Schlumberger Award 1969, and the IEEE's Donald G. Fink Prize Award 1984. He was elected to the National Academy of Engineering in 1988, and is a fellow of the European Academy of Science.

Info adapted from the European Academy of Science: In 1950 at MIT, Robinson, as a research assistant under Prof. Norbert Wiener (the father of cybernetics), applied digital methods to seismic exploration for oil. Robinson originated seismic (signal) deconvolution through the use of digital filtering algorithms. He made those first computations by hand and in 1952 programmed the MIT Whirlwind vacuum tube digital computer to apply those digital signal methods to seismic recordings. The computer was physically so large that it filled a whole building at MIT, and yet by today¹s standards its processing capacity was miniscule. The work of Dr. Robinson revolutionized the exploration for oil and gas.

PS: Movie connections: Robinson’s colleagues in the mathematics department at MIT in early 50’s included John Nash, the later Nobel Prize Winner in Economics – whose story was highlighted in the Oscar winning movie “A Beautiful Mind”.

For Information see:
http://www.cseg.ca/education/doodle2005/courses/keynote.html

Tickets: Fax the following form by noon Thursday Oct 27 to the CSEG contacts: http://www.cseg.ca/education/doodle2005/keynote_tickets.pdf