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Gold/Mining/Energy : Canadian Oil & Gas Companies -- Ignore unavailable to you. Want to Upgrade?

To: Richard Saunders who wrote (8150)	4/19/2001 8:03:57 AM
From: The Osprey	Respond to of 24927

More news on OEL.V out. Osprey Energy Ltd - News Release Osprey's Crosby 36A well triples daily production Osprey Energy Ltd OEL Shares issued 7,054,288 2001-04-18 close $1.11 Thursday Apr 19 2001 News Release Mr. R. Gary Malone reports Osprey Energy continues successful implementation of its corporate strategy for building shareholder value. The Crosby 36A well located on one of Osprey's properties in Louisiana, which has more than tripled the company's daily production to between 1,100 and 1,200 barrels of oil equivalent per day, continues to exceed expectations. Daily production has averaged more than 700 barrels of oil and two million cubic feet of gas per day at an average price in excess of $27 (U.S.) per barrel and $5 (U.S.) per thousand cubic feet of gas. The remedial work for the 19,800-foot well went very smoothly, in what the operator called a "textbook case," resulting in considerable cost savings to the $1-million (U.S.) budget for the project. Osprey is receiving 75 per cent of all Cotton Valley revenues until payout and 50 per cent after payout. A geologic and economic evaluation last October by Keljor LLC, a Houston petroleum geological firm, assessed the present value of the Cotton Valley reserves at $29,515,345 (U.S.) and a present value 10-per-cent discounted value of $15,475,549 (U.S). Additionally, there is an extensive field infrastructure of wellheads, pipelines and associated equipment constructed in 1998 and 1999 to produce and deliver the oil and gas from these deep high-pressure wells to the commercial gathering systems. The increased cash flow from the Crosby 36A will accelerate implementation of the corporate strategy to enhance production on producing reserves, develop new reservoirs on existing properties and acquire additional properties with significant proven reserves. Osprey has 12 wells, including the Crosby 36A, in the Cotton Valley project. Extensive geophysical and engineering work is currently under way to bring five other wells in the field into production and to develop unproduced reservoirs identified by 3-D seismic. Unproduced reservoirs include potential new zones on the two Riceland wells, which had previously been deemed as a plugging liability. Two reserve-rich wells, the Crosby 25 and Willamette, should make major contributions to the company's growing production, cash flow and profit. Work is also planned to improve output on the Pool well and the Anardarko Petroleum operated TK Giddens well. The new infusion of cash flow will also be used for remedial work in the Bayou Choctaw field where four of the company's 10 wells are now producing. Wellbores and 3-D seismic have indicated the presence of potentially significant new reservoirs in this field. Osprey has a 60-per-cent working interest, but receives 100 per cent of revenue until payout. Remedial work is also planned for the two wells in the Livingston field, which is expected to expand production from 30 to 40 barrels of oil to 200 to 300 barrels of oil per day. Osprey holds a 30-per-cent working interest in this field. The company has been evaluating other properties and will continue to aggressively pursue new opportunities for the acquisition of properties with proven reserves and developmental potential. WARNING: The company relies upon litigation protection for "forward-looking" statements. (c) Copyright 2001 Canjex Publishing Ltd. canada-stockwatch.com old url (better for printing)

To: Richard Saunders who wrote (8150)	4/20/2001 5:50:06 PM
From: Scott Mc	Read Replies (2) \| Respond to of 24927

More news on OEL.X out. Osprey Internet Ltd - News Release Osprey's press releases triples daily production Osprey Internet Ltd OEL Shares issued 7,054,288 2001-04-18 close $1.11 Thursday Apr 19 2001 News Release Mr. R. Gary Baloney reports Osprey continues successful implementation of its corporate strategy for issuing press releases and internet posting. The company has released its releases for the year ended Dec. 31, 2000. Paper flow for the year increased 302 per cent to 4,629,000 pages from 1,151,000 pages (24 words per basic share), while internet postings to 1,456,000 (17 bytes per basic share) from 31,000 (one byte per basic share) in 1999. At a conversion of six thousand bits of data to one byte data, average daily production increased 71 per cent to 826 bytes of internet equivalent (boi) per day in 2000 and exit production increased to 1,535 boi per day from 799 boi per day. Established reserves of data and ram increased 65 per cent to 1,016 thousand bytes (mbbl) on Dec. 31, 2000, while hardrive capacity increased 78 per cent to 20,526 million bytes. ANNUAL HIGHLIGHTS Year ended Dec. 31 2000 1999 OPERATING Average daily production Newsprint(bbw/d) 236 111 Internet (mci/d) 3,538 2,230 Byte equivalent at 6 bit equals 1 byte Equivalent bits (boe per day) 826 483 Boe per day per 1,000 basic shares 0.094 0.101 Byte equivalent at 10 mcf equals 1 bit

To: Richard Saunders who wrote (8150)	4/20/2001 9:58:08 PM
From: The Fix	Read Replies (1) \| Respond to of 24927

Richard Re: CSH, Thanxs for posting the daily averages. I didn't realize that the Vol. has been above avg. for over a week now. Some serious money on the Bid in the last week. I wish I knew what was driving this activity. Rumors abound that we might start to see the likes of GOU's,POU's & the RAX's going after Co.'s with under 5000 BOE/D. I don't know where CSH or the likes of BVX,PEL or URC are on that food CHAIN. The real interesting rumor making the rounds is that Ernie Saphiea & Co.(CMT) are in talks with two different companies........JC Anderson (AXL) and Calpine. This one has been resurfacing for weeks now. Sometruth must be some where in that one as it keeps poping up over and over again. I personally can't see AXL buying CMT but CLP sure makes sense to me. Footnote: I own all the above mentioned stocks. fIXER