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Gold/Mining/Energy : Oil Sands and Related Stocks

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To: Taikun who wrote (11994)	8/23/2006 8:17:51 PM
From: Brinks	Read Replies (4) of 25575

Taikun The people that I talk to that attended the Friday Delta Analyst meeting they were just blown away by the Utah Overthrust Play presentation with Bill Armstrong of Armstrong Oil & Gas. The numbers you are throwing around relate only to the Columbia River Basin. I know First Albany stated: “We consider this play to be the highest potential natural gas resource play being evaluated in North America.” First Albany August 22, 2006 However, Delta has two world class plays going on the same time. In fact, First Albany did their $ 175 potential as follows: Assigning a value of $0.50/Mcf to net unrisked reserve potential of Columbia River Basin (we estimate 4.5 Tcf) and $5.00/Bbl to the net unrisked reserve potential of the Utah Hingeline project (we estimate 1.4 Billion Bbls), we calculate a per share potential asset value of $175. It is just mind boggling. If anyone desires to see the First Albany report inbox me.

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