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

To: Kerm Yerman who wrote (9552)	2/18/2003 9:15:14 PM
From: Kerm Yerman	Respond to of 24921

Portfolio Stock / Kick Energy Kick Energy Updates Brazeau Production CALGARY, ALBERTA Kick Energy Corporation would like to announce that it has reduced targeted production rates from its Brazeau Nisku "T" pool for the year. Initial production from the pool was targeted at approximately 1800 boe/d (6:1) and forecast to average 1650 boe/d for the year. The second well in the pool started production on December 20/02 and by the first week of February /03 showed indications of water production. Since the pool does not have an active water drive, it is Kick's belief that the well is rate sensitive similar to the first well in the pool. The first well showed similar production characteristics in May/02 and has produced water free at reduced production rates since that time. Over the last week, Kick reduced total pool production from 1800 boe/d to approximately 1550 boe/d and has seen water production stabilize at 40 bbls/d. Production has been further reduced to 1400 boe/d. This is expected to substantially reduce water production from the pool. An optimal depletion strategy for the pool will be determined as further production history becomes available. Additional wells may be needed to accelerate depletion of these reserves.

To: Kerm Yerman who wrote (9552)	2/19/2003 10:58:49 AM
From: Kerm Yerman	Read Replies (1) \| Respond to of 24921

Kerms Korner / Tier II Portfolio Material Changes TIER III PORTFOLIO ADDITIONS Beginning Cash Component of Portfolio = $ 19,443.70 ============================================================ Flowing Energy Corporation FLO 2000 shares @ $1.30 Total Investment $2,600.00 This is an expensive purchase if you were to check out the share price of just a month ago ($0.97). I will be a buyer again if shares fall back to a lower level. This is a company headed by Bob Bowman, former operations manager of Velvet Exploration. The company just raised $4-1/2 million to fund their planned activities in 2003. Shares were offered at $0.90 in one offering and $0.85 in a private placement. Following the offerings, the company announced they hit the mark of 1000 boe/d. – more accurately, 1225 boe/d. The significant increase can be attributed to a gas plant commissioned in Flowing's core area of Monitor and recent drilling activity. Bob Bowman, President of Flowing commented, "This gas plant is an important investment in Monitor. With three additional locations in Monitor to be drilled before the end of the first quarter and four more in the second quarter, this plant allows us to bring other gas wells on-stream quickly with minimal tie-in costs. More importantly, by not utilizing third party processing facilities, we eliminate the risk of production constraints." Flowing is currently in the midst of a 20-well winter drilling program. It is anticipated that a total of eight additional wells will be spud before the end of the first quarter in Monitor and Wildmere. The remaining seven wells of this program are scheduled for completion during the second quarter of 2003. For a good look into the company, go to this document. sedar.com ============================================================ Celtic Exploration Ltd. CLT 700 Shares @ $4.20 Total Investment $2,940.00 Celtic Exploration went public as a Capital Pool Company back in July of 2002 as (DSX) Desco Exploration. Shares were offered at $0.25/share. Almost immediately thereafter, Dresco completed their Qualifying Transaction. The company entered into an Agreement in Principle dated July 13, 2002 with Jarrod Oils Ltd. to complete a series of transactions, including the purchase from Jarrod of certain oil and gas assets located in the Princess Area, Alberta. The purchase price for the Princess Properties is $4,150,000 payable by the issuance to Jarrod of 2,650,000 common shares of Desco, at an assigned value of $1.00 per share and the balance is payable in cash. The company is headed by David J. Wilson who was a co-founder of Genesis Exploration Ltd. and served as its President and Chief Executive Officer from 1993 until 2001. Thereafter, Mr. Wilson served as President of Vintage Petroleum Canada, Inc. for a one year term ending May, 2002. Sometime before October, the company changed its name to Celtic Exploration. On October 27, the company announced a large acquisition, Dorchester Energy Inc. (TSX Venture: DEI) for approximately $11.3 million, plus the assumption of $5.4 million of debt, net of working capital, after estimated transaction costs. At that time, Dorchester produced approximately 720 barrels of oil equivalent per day from five principal properties in Alberta, of which 58% was natural gas. At the same time, Celtic also acquired Denim Energy Corp, a private company, for approximately $3.5 million. Denim produced approximately 154 BOE/d from three properties in Alberta where Dorchester is a joint venture partner. Approximately 85% of Denim's production was natural gas. Still further, Celtic offered to acquire producing oil and gas assets located in the Richdale area, Alberta for approximately $1.1 million. Then current production from the Richdale assets was approximately 66 BOE/d. Both Dorchester and Denim are joint venture partners in the Richdale assets, of which 90% is natural gas. Last, in a unrelated transaction, Celtic closed the acquisition of producing oil and gas assets in the Alderson area, Alberta for approximately $850,000. Current production from the Alderson assets is approximately 47 barrels per day of oil. In November, Celtic completed an equity financing. The company issued 4.0 million common shares for proceeds of $12.0 million, by way of a non-brokered private placement. I like the way this company was quickly put together – perhaps a reflection of knowledgeable management. I have requested additional information – focused on planned activities for 2003. However, I am establishing a small position at this time. SEDAR sedar.com ============================================================ Balance of Portfolio Cash Component $13,183.70 ============================================================

To: Kerm Yerman who wrote (9552)	2/21/2003 3:03:42 AM
From: Kerm Yerman	Read Replies (1) \| Respond to of 24921

Portfolio Stock / Case Resources FOR: CASE RESOURCES INC. TSX SYMBOL: CAZ FEBRUARY 18, 2003 - 16:39 EST Case Resources Announces Issuer Bid Case Resources Inc. (the "Corporation") today announced the TSX Exchange has accepted its Notice of Intention to Make a Normal Course Issuer Bid. Under the terms of the Bid, the Corporation is authorized to buy back, for cancellation, up to 3,000,000 of its issued and outstanding Common Shares which is approximately 5% of the 60,792,679 Common Shares outstanding at this time. Any Common Shares acquired by the Corporation under the Issuer Bid will be cancelled. Although the Corporation has a present intention to acquire Common Shares, it is not obligated to make any purchases to the Issuer Bid. The Bid commences on March 1, 2003 and will end on February 29, 2004. All purchases will be effected at market prices through the facilities of the TSX Exchange. The Corporation believes the purchase of its Common Shares represents an appropriate use of funds because the market price of its Common Shares represents a significant discount to the fair value of such shares. The purchase of and payment for the Common Shares will be made by Case in accordance with the policies and rules of the TSX. Shareholders may obtain a copy of the Notice of Intention to Make a Normal Course Issuer Bid, without charge, by contacting the Corporation. This notice may also be obtained at www.sedar.com. Case Resources Inc. is a Calgary based oil and gas company whose common shares are listed on The Toronto Stock Exchange under the symbol "CAZ".