Jim, here's some info on Raptor Capital. (RCP - ASE)
Raptor Capital Corporation Update (February 1998)
Dear Investor,
The following is a detailed report on Raptor Capital Corporation's business activities over the last couple of months. This report also includes a summary of Raptor's properties and their production both current and projected. It also includes an outline of the drilling program in place for 1998.
For those of you who do not know, Raptor Capital Corporation came under the direction of Mr. Norman J. Mackenzie and a small group of private investors in July of 1996. For shareholders this was an exciting moment. The Mackenzie family have founded and or directed many successful companies.
Some of those Public Companies are as follows:
Syracuse Oils 1965-1968 Start-up $0.3 Mill Sale $5.0Mill
Sunningdale 1970-1976 Start-up $0.5 Mill Sale $80.0 Mill
Sceptre Resources 1976-1993 Start-up $7.0 Mill Sale $475.0 Mill
Hillcrest Resources 1977-1994 Start-up $1.0 Mill Sale $80.0 Mill
Scimitar Hydrocarbons 1995- Start-up $1.5 Mill High of$90.0Mill
Raptor Capital Corp 1996- Start-up $250.K Present $11.5 Mill
As you can see from the above table, the Mackenzie's have had many successes in the past 33 years, keep in mind that none of the above mentioned companies were over night successes, most or all of them took strategic planning and a lot of hard work. Raptor is no different than the others. Raptor virtually started with nothing and now has
(over the past 13 months) built a producing, revenue generating company.
Due to market swings we have seen our revenue go up and our share price come down.
Instead of being alarmed, we are excited about the opportunity it provides our investors once again to make excellent profits in an undervalued company.
The following is a breakdown of the properties that Raptor owns or is currently in the process of acquiring. This breakdown highlights an approximate time line of which we plan to drill on our properties. In addition to this we indicate the probable production that we could see from the successful outcome of the drilling plan. Please pay particular attention to the information on Turner Valley, as there is currently some exciting events transpiring on adjacent properties that could accelerate our plans for this project.
Current Drilling Budget items and exploration projects.
A. Minton, Saskatchewan
The Minton area field has three separate Red River and Winnipegosis carbonate structures which have been producing oil for several years. There remain however significant hydrocarbons in these pools. As drilling technology has advanced there is a major opportunity to
significantly expand production through low risk re-entry short radius horizontal drilling in both zones. This technology takes advantage of the existing well bores that have 5.5 inch casing in place. Initial plans call for the first well to commence approximately
May 1, 1998 (right after breakup) at 1-18-3-21 W2M with the drilling of a two legged (each 400 meters) horizontal re-entry. Costs are estimated at $500,000 with production potential of 500 - 1,000 barrels of oil per day. With success at this location there are at least 3 additional candidates on Raptor lands. Other good well bores (3) currently on production are available to be used based on the success of the first well. There is also an exploration element to the area as detailed geophysical information outlines potential under certain crown lands that would be available for posting and acquisition.
Turner Valley, Alberta
Through geological and geophysical interpretation Raptor has developed a 200 BCF potential Turner Valley thrust fault exploitation/exploration prospect south of Calgary. This prospect
is modeled after the Shell Sarcee closure on the same thrust fault several miles to the north where two wells will produce more than 200 BCF before they are finished. In addition to the geophysics there is a well on the edge of the prospect where the thrust fault cut
through the wellbore. This well drilled in 1970 tested 5MMcf/d plus liquids from a small sliver of the zone. Geophysical interpretation on the Raptor lands indicates 150 feet of incremental pay section structure from this wellbore. There are two main sections of land
on the play, one section owned by Raptor and the section immediately south to a third party. That company intends to drill a well in the near future. Raptor is waiting to view the success of their drilling program. Should they be successful, (seismic says they should) this would take the risk out of the play. Raptor will then drill our own development well. Potential on the section would be 100 BCF and 20 mmcf/d.
Central Alberta
With 1,500 Kms of proprietary seismic and detailed geologic mapping Raptor has developed an extensive number of exploitation prospects and leads on several major Glauconite and Basal Quartz channel complexes. We are currently acquiring lands, and negotiating a three well
farmout program. Potential is for 1 - 2 mmcf/d production per well at depths ranging from 3,000 - 4,500 ft.This is a very gas rich point bar sand complex. The geophysics has modeled a significant number of the existing pools and indicates the same criteria on our new
prospects. Raptor anticipates that we should be in a position to drill two or three wells this coming summer.
Keep in mind that the aforementioned properties represent only a portion of the projects that Raptor is pursuing. There are a number of others that are in the final stages of negotiation. This drilling agenda is expected to deliver a substantial increase in the oil
and gas production for Raptor Capital Corporation. The focus is back on the undervalued Junior Oil Companies, and we are one of the true bargains to be picked up. With an exciting portfolio of properties, the future for Raptor is very bright.
Facts to remember:
Raptor Capital Corporation has approximately 19,800,000 shares issued and outstanding.
Raptor Capital Corporation has approximately $1,800,000 in the treasury.
Raptor Capital Corporation's approximate annual revenue is $4,000,000.00/yr
Raptor Capital Corporation is only 13 months old, (under new management).
Raptor Capital Corporation's current approximate production is 580-650 BOPD.
Raptor Capital Corporation's target is to exit 1998 with 2000 barrels of oil equivalent in
production.
Thank you for taking the time out to review this update. We do strongly suggest that you or your broker call to inquire as to the new developments, that are taking place. This is going to be an exciting year for Raptor and its shareholders, we sincerely hope you will share it with us.
For more information or to request a complete investors package, please contact
Mr. Jim Kootnekoff toll free at 1 (888) 344-7999 or Mr. Bill Calsbeck at 1 (604) 341-8827.
Web site is raptap.com
Email address is info@raptap.com
Jim Kootnekoff
Investor Relations
Raptor Capital Corporation
Tel toll free: 1 (888) 344-7999
mailto:raptap@ibm.net
raptap.com
Sorry about the formating.
Cheers,
Dave |
