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Revision History For: DRA - DRAIG ENERGY LTD

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Return to DRA - DRAIG ENERGY LTD

draigenergy.com

Recently announced results for the three months ended December 31, 1999. Revenues totalled $3.7 million, cash flow was $2.0 million or $0.19 per share, and net income was $0.6 million. Production during the three month period was 1,384 boepd.
Net asset value of $4.11 per share using a 15% discount rate 35 to 40 well drilling program for 2000 targeting average production of 1,900 boepd.

For those investors wishing to hold the stock over a longer time period, the company appears to offer good value with projected cash flow for 2000 of $10.2 million or $1.00 per share. Using a typical price to cash flow multiple of 4, Draig's shares should appreciate to the $4.00 level over the next 12 months, thus nearing the company's current net asset value.