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Gold/Mining/Energy : Liberty Oil & Gas Ltd LBR
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To: David Michaud who wrote ()3/5/2000 9:57:00 PM
From: David Michaud   of 5
 
Liberty Oil & Gas Ltd. is actively engaged in the exploration, exploitation,
and development of oil and natural gas in Alberta and Saskatchewan. The
company completed the reverse takeover of Rockport Energy Corporation on
November 30, 1998. For the nine months ended September 30, 1999, Liberty
achieved an average production rate of 485 boepd consisting of 1.8 mmcf/d of
natural gas and 305 bopd. The company has demonstrated tremendous growth in
its production over the past six months. Liberty's current production is
approximately 1,200 boepd and management is forecasting an exit rate for
2000 of 1,800 boepd. The company has budgeted $8 million in capital
expenditures for the year including the drilling of 15 wells and the
installation of additional production facilities. Assuming an average
production rate of 1,500 boepd, the company should achieve cash flow of $8
to $9 million or $0.60 to $0.67 per share for 2000.
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