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Gold/Mining/Energy : The New Osprey Limited

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To: Buckey who wrote (210)	11/24/2001 10:21:27 PM
From: The Osprey	of 338

Not PP shares Buckey but I believe one shareholder selling out,Motivation may be house call on sonething else but not sure.He is making a mistake for sure.This is poised to go higher.As to the fully diluted status..I will attempt to ascertain the utd figures for Bearcat and the rest of the thread.I am not sure if warrants were exercised or not.If they were not and they expired the fully diluted O/S will drop.As to the statement on 36A...You nailed it right on Bearcatbob.If 36A is brought back on and still on 5/64th choke we will see a dramatic increase here. I am not 100% sure but when 36A was drilled and then shut in there was apparently not enough casing set down and there was a tool stuck.That piece of tool I am told came up with great force with pressures over 12000LBS/square foot and impacted the base of the well head.They apparently x-rayed it and decided to shut down and replace it with costs involved.When the tool dislodged itself it apparently did some damage belo casing and disturbed the drill bore so that it caused a cavern type effect.This is going to be rectified along with casing being set deeper. Now from what I can ascertain that is also the reason they ran it on 5/64th choke.(I think they knew this).Apparently poans are in place to correct this once and for all.Then they will be able to open it up.It apparently produced an average of in excess of 700BBls and 1.5 to 2 MCF of gas when it was choked back.Oil and gas types will know what this means.Perhaps Bearcat can add to this with his wealth of knowledge. Now one other thing I was told was that the bayou Choctau field is being worked and wells are producing in the area of 350BOEPD but this can ramp up with the application of a lift????? I presume a gas lift or pressurization of the reservoir???? Regardless this is not a stand still company.It is moving ahead and most finances are being plowed back into remedial workover costs so cash can be concerns at times.With a solid backer in place and sustained production levels in the US can lead to what is referred to as bankable production that can be utilized to secure a credit facility.Bayou Choctau will help in this effort. Onre other point that alot of people would not be aware of.When it comes to a line of credit being arranged the US lenders require sustained production usually for 6 months and they will advance against it.With a head office in Canada most canadian lenders will not touch it as the majority of production and production potential is in the US.So I am suggesting that they have done well to this point and once suitable backers are found this will move into the next level.I am hoping it is in the US and if so I hope they look at the Nasdaq or AMEX and if it means moving operations into the US to accomplish this then so be it.I am sure the financiaers will like the risk reward of this dynamic little company. FWIW this is the best I can report.I will try to keep the thread apprised better from now on.I will say this though.From what I see financing through the US is paramount for continued success.If this happends and I think it will....those who are buying will find anything under 1.00(CAN) a great buy.

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