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Strategies & Market Trends : Natural Resource Stocks -- Ignore unavailable to you. Want to Upgrade?

To: isopatch who wrote (20051)	1/14/2005 10:50:02 AM
From: The Vet	Read Replies (2) \| Respond to of 108653

I have a few small oil and gas companies that I know of locally (Alberta) but they have generally been a disappointment. I did buy Admiral Bay (V.ADB) as a medium term hold a couple of weeks ago under $1 CAD, which is doing quite well. An explorer who has become a producer and they should be able to develop further on cash flow alone. They have a little conventional oil and gas and some promise with coal bed methane.

To: isopatch who wrote (20051)	1/14/2005 12:46:54 PM
From: Jim Willie CB	Respond to of 108653

a note on TransGlobe Energy (AMEX:TGA, TSE:TGL) TransGlobe continues to have remarkable success in Yemen. On Wednesday, the company announced results from the An Nagyah #14 well on Block S1 (25% working interest). An Nagyah #14 is the first well drilled by TGL and Vintage Petroleum south of the fault that defines the southern edge of the An Nagyah field. The partners have already been very successful on the An Nagyah field, north of the fault line that has already been assigned 22 million barrels (5.5 million net to TGL) of reserves. The An Nagyah #14 well was drilled to a total depth of 1,365 meters and encountered a 19 meter oil column in the Lam B (lower Lam) sandstone. The well swab tested at a rate of 80 barrels of light (40 degree API) oil per day (bopd). It appears the company has made a major discovery. While An Nagyah #14 flowed at only 80 bopd during its initial test, An Nagyah #1, located on the structure north of the fault line, flowed at only 1 liter of oil per day during its initial test. TGL plans on reprocessing its seismic data on the South An Nagyah field (which is a completely separate structure from An Nagyah) and drill a follow-up well later this year. I expect the second well at South An Nagyah to prove that TGL is onto something big. With the company’s central processing facility currently under construction, any future drilling success at An Nagyah South could be tied in quickly. TGL and its partner have moved the rig used to drill An Nagyah #14 to its Malaki #1 location nine kilometers to the southwest. Malaki holds significant reserve potential and is the first of four or five exploration leads the company plans on testing this year on Block S1. The company also reported that December 2004 production averaged 5,325 Boepd, surpassing the target 2004 exit rate of 5,000 Boepd and setting a new record production level for the company. The An Nagyah field December production was approximately 7,407 Bopd (1,852 Bopd to TransGlobe) and continues to grow. ---------------------- ME: Based on continued exploration success combined with the outstanding financial results TGL will post in 2005, the company remains a top pick. It could easily hit $20 per share by the end of the year.