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Gold/Mining/Energy : Canadian-under $3.00 Stock-Picking Challenge -- Ignore unavailable to you. Want to Upgrade?

To: The Osprey who wrote (11227)	2/2/2003 5:30:39 PM
From: Al Collard	Respond to of 11802

Hi Osprey, Your in with OEL-v @$ .23 for 43,478 shares. Chart for Osprey Energy Ltd: stockcharts.com[w,a]dacaniay[dc][pc20!b50!f][vc60][iLa12,26,9!Lh14,3]&pref=G From the chart of OEL we can see the stock spent last week trading in a tight range. The chart indicators are flat showing no clear direction as the volume was declining to close the week. (Hold) Good luck with this pick, Al

To: The Osprey who wrote (11227)	2/3/2003 3:27:55 PM
From: Al Collard	Respond to of 11802

OEL-v...in the news: Osprey to issue debenture for $1-million (U.S.) debt Mon 3 Feb 2003 News Release Mr. Bernard Robichaux reports Osprey Energy has received a signed letter of intent from Quadrangle Holdings of Nassau, Bahamas, in which it agrees to convert an outstanding $1-million (U.S.) debt to a two-year convertible debenture, effective March 11, 2003. The debenture will be convertible into Osprey common shares at a rate of 65 cents per share in year one and 75 cents per share in year two. The lender will also receive one-half of a share purchase warrant for each share converted. Each full warrant will have an exercise price to purchase Osprey common shares at 75 cents per share in year one and 85 cents per share in year two. The number of shares and half warrants will be determined based on the conversion rate of United States dollars to Canadian dollars on March 11, 2003. Interest will be calculated annually and paid quarterly at a rate of 10 per cent. The agreement is subject to regulatory approval. Osprey president and chief executive officer Bernard P. Robichaux commented: "I am extremely pleased with the confidence Quadrangle Holdings has demonstrated in our reorganization strategy and future prospects. Their faith and confidence in the new management team is very much appreciated."