Editor Leslie Haines has been arranging this month's cover story, "Poland," for at least three years, since first learning of FX Energy's endeavors there. Persistence pays. Senior financial editor Brian A. Toal covered the trip. "The streets are peppered with rows of uniform, drab, gray buildings erected by the Soviets after World War II. But then, around a circle heading into downtown, tall, modern, glass-frame buildings leap into view," he writes. Toal tells us how this fledgling nation-long prevented from engaging fully in capitalistic pursuits-is attempting to shape its destiny, which includes improving its energy self-sufficiency. "That's nothing short of ironic, considering that Poland was the first discoverer of oil, in 1856-and at one time in the early 1900s, the supplier of one-quarter of all the oil and gas in the world," he writes. In "A Sexier Sector," contributing editor Gary Clouser reports on how some U.S. capitalists aim to help shape the fate of U.S. natural gas storage capacity. "These new players seem willing to take risks that most utilities and conventional lenders would not. It's a good thing," Clouser writes. The Gas Technology Institute projects U.S. gas storage capacity will grow 21% by 2015, and about 75% of the capacity additions are expected to occur after 2005. Aiming to produce more of that gas is Shenandoah Energy Inc., a Denver-based upstart formed just this past January 1. Its first-year capital budget is $66 million. Exploration editor Peggy Williams explains in "Ahead of the Curve." Toal also writes this month about a successful Canadian private equity fund, Camcor Capital Inc., that specializes in upstarts-producers of less than 1,000 barrels a day. Upon production growth to 2,500 to 5,000 equivalent barrels a day, the fund exits, Toal explains in "Reeling in Returns." Other news from Canada concerns much larger producers: Gulf Canada Resources Ltd. and Crestar Energy Inc. In "The Good Fit," financial editor Nick Snow describes their merger plans. Meanwhile, U.S. Gulf of Mexico helicopter operators talk about their ability to satisfy growing deepwater E&P transportation demands, and the capital they will need to do this, in "Helicopter, Please" by contributing editor John Persinos. And, U.S. investor relations professionals discuss their use of the Internet to inform shareholders and potential investors, in "IR Gets Wired," by associate editor Jodi Wetuski. The IR execs also discuss Regulation Full Disclosure, which was days from taking effect at press time. Next month, we'll bring you a walk-through of the ramifications of the new disclosure rule.
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