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Gold/Mining/Energy : Canadian Oil & Gas Companies

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To: Bearcatbob who wrote (6134)	3/5/1999 3:04:00 PM
From: keith massey	Read Replies (3) of 24892

Would anyone care to give a novice a back of the envelope calculation method for looking at the worth of a natural gas discover. I know the price of gas and conversion rates. I guess what I am looking for is what stands out as a good discover for a small company. This is in reference to a small company I own that hasn't released numbers. Thanks in advance KEITH Omax Resources Ltd OXR Shares issued 19,144,126 1999-03-03 close $0.15 Wednesday Mar 3 1999 Mr. Hal Hemmerich reports Two exploration wells have been drilled to encounter pinnacle reef systems within the Huron project. Both wells successfully intercepted reef structures which were identified by a 3D seismic survey. Hydrocarbons in the form of natural gas have been discovered. Both wells were cased for stimulation, testing and completion operations. Further updates will be released when results of various stimulation methods are complete. Omax has a 10 per cent interest in the Huron project and has initially committed to a five well drill program. The company presently has $2.3-million in working capital and no debt. These securities may not be offered or sold in the United States without an exception from registration.

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