CALB - Caliber Energy, Inc. Message Board

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Gold/Mining/Energy : CALB - Caliber Energy, Inc.

CALB 25.09

0.0%

Aug 1 5:00 PM EST

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From: jmhollen	2/10/2006 1:41:45 AM
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Wednesday, September 28, 2005 -- Trading Symbol: OTC.BB : CALB Caliber Energy Updates Russian Coal and Canadian Oil Projects Caliber Energy, Inc. (OTC BB: CALB) today wishes to update the progress and events relating to the Company's energy projects. Caliber has now signed a Letter of Intent (L.O.I) to acquire certain Coal Mining Licenses in the Sakha-Yakutsk region of the Russian Federation. The coal resource on the licenses is reported to exceed 300 million tonnes. The acquisition is subject to a due diligence process as well as site and facilities inspection. Recently, a major Russian integrated mining and steel group was reported to have paid over $10 million for an equivalent coal license in the region. Caliber maintains a strategic and competitive advantage through its existing joint venture partnership with Canadian-based Dolman Investments Ltd. and local Russian operating groups. The Company also wishes to report that the scope of the previously announced "Coal Sales Agreement" from sales contracts to export coal has increased from 500,000 metric tonnes of metallurgical grade coal to include an additional 3.0 million tonnes of thermal coal. The timing of the implementation of this coal sales program has encountered a delay due to the increased scope of the aforementioned additional thermal coal contact. The Company will report when these important sales contracts are finalized. In other news, the Company has reduced its participation in the Bolloque oil play located in Alberta Canada in order to fully concentrate on the Russian coal ventures. Caliber has retained a 10% carried working interest in the Bolloque Project and the 7-1-64-25W4M well. Caliber has been carried on all costs pertaining to the drilling and completion of the 7-1 well. Caliber will report on the results of the well testing when available. ABOUT CALIBER ENERGY Caliber Energy, Inc. is a growth oriented Company primarily focused on developing advanced coal projects and other high potential business opportunities in the energy sector. Caliber is focusing on coal, oil and natural gas. Caliber's primary focus is on advancing coal projects to production, combined with the opportunities management has identified that would provide immediate cash flow and revenue by securing coal trade agreements. Caliber augments the coal projects with oil and gas opportunities that are low risk with a high rate of return. With this diverse portfolio, Caliber Energy minimizes risk as the Company meets demand for fossil fuels. ON BEHALF OF THE BOARD Caliber Energy, Inc. "Graeme F. Scott" .

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