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Gold/Mining/Energy : USEG - Uranium Power Corporation

USEG 1.120

+0.4%

Nov 5 3:58 PM EST

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To: jmhollen who started this subject	10/10/2002 11:11:17 AM
From: jmhollen	Read Replies (1) of 72

The World's Largest Hydrocarbon Deposit (2.5 Trillion Barrels of Oil) known as the Athabasca Tar Sands In northern Alberta, Canada is situated above the Athabasca Oil Prospect of which Uranium Power Corporation (URMP.OB) owns a 50% interest. In the later part of September, 2002 the company announced effective immediately that it will re-enter the AOC-7-32 WELL located 2miles west of Fort McMurray, Alberta after excellent Porosity tests returned reservoir values of 7% Porosity with 82% oil saturation and 100% permeability at 865-900 meter interval. In late September the company confirmed the service rig is now on location and commencing operations. See most recent update in box above. Prior drilling at the AOC-7-32 well defined multiple fracture zones with light gravity crude oil (34 degree API ) & gas shows observed while drilling and will be tested. Drilling records, sample analysis and logs on the suspended well confirm the "Athabasca Oil Prospect's strong probability to host a world class oil deposit and the potential to host more that 200 wells in the 97 sq. mile project". Additionally, the company reports Mr. Bruce Lazier, formerly Senior Energy Analyst with Mobil Oil and a New York securities firm has joined URMP.OB as a consulting advisor.

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