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Strategies & Market Trends : Bosco & Crossy's stock picks,talk area -- Ignore unavailable to you. Want to Upgrade?

To: RRainman9999 who wrote (9188)	4/22/2005 8:03:06 AM
From: Crossy	Respond to of 37387

RR, thanx for the kudos and also for posting the material shareholders table wrt. DNO.. Interesting trading activity the brokerage bellwethers (JPM, GS etc..) displayed on DNO recently, that's for sure.. Agree 100% with your description of DNO as a possible gorilla. In fact, for DNO.OL I'm willing to take the "Buffet Mantra" - BUY, NEVER SELL - very rarely do stocks fit this description.. I did a quick "unrisked P3" calculation on them to get a quick maximum upside potential of the company, figuring in 100% exploration success.. It came out as a possible 20-bagger on this calculation, depicting the maximum upside the company has on the current acreage portfolio, in the most rosy scenario.. Now this is a reserve driven "frontier calculation". To get there a company needs access to financings or cashflow. The nice thing about DNO.OL is that they got exactly that.. Similar in my own folio. Biggest position is now DNO.OL, closely followed by PAR.OL and Petrobank (PBG.TO). Skandinavian oils outperformed all others.. who would have thought that ! best rgrds CROSSY

To: RRainman9999 who wrote (9188)	4/25/2005 5:49:17 AM
From: Crossy	Respond to of 37387

re: DNO 66NOK (+10%) (Det NORSKE Oljeselskap) News update - production test from the second major formation (Kohlan) in the Nabrajah #5 well reveils 3,800 BARRELS OF OIL PER DAY FROM KOHLAN TEST IN ESP CONFIGURATION newsweb.no Nabrajah # 5 - Kohlan formation test results: Following the successful test of the Basement interval in Nabrajah # 5, which produced 5,800 BOPD, a production test in the interval 2,619 - 2,636 meters in the Kohlan dolomite reservoir was conducted. Preliminary results of the production test in the Kohlan Formation are: 3,862 bbls/day of oil (40.9 API), 1,630 bbls/day of water and 2,940 Mscf/day of gas. The well was flowed using an ESP (Electrical Submersible Pump) for artificial lifting. As previously reported strong hydrocarbon indications were observed while drilling the dolomite section of the Kohlan formation, and evaluation of electrical logs indicated the presence of hydrocarbons in a 42 meter gross interval. The test reported above was conducted in the lower part of this hydrocarbon-bearing interval. The initial plan was to perforate also the upper part (2,603 - 2,614 meters) of the Kohlan formation and test the full section. However, based on the positive results from the test in the lower section the testing will now be abandoned. Nabrajah # 5 will be suspended and preserved as a future Basement & Kohlan oil producer. The Basement / Kohlan oil discoveries in Nabrajah # 5 are different hydrocarbon systems than the shallower Qishn reservoir, which until now has made the reserve basis for the Nabrajah Field Development. Further appraisal of the Basement / Kohlan oil discoveries is necessary in order to confirm the size of the reserves. As a consequence of the Basement / Kohlan oil discoveries, the Block 43 partners will revise the drilling schedule. The next well to be drilled is Nabrajah # 6, which will be a dedicated Qishn water injector. Thereafter a Basement appraisal program will be undertaken which could include drilling of up to 4 additional Basement targets in 2005. Basement is producing oil in both Block 10 (operated by Total) and Block 14 (operated by CanNexen), and has become a main target for exploration drilling in the area. The recent Basement oil discovery in Nabrajah # 5 supports the probability of significant oil potential in Block 43, which could be developed cost efficiently through the Nabrajah Field production facilities. Following the Basement oil discovery in Block 43, DNO will increase its focus on Basement prospects within the other licenses in Yemen, and the Company has already launched a study to identify Basement drilling targets in Block 32. Status of Nabrajah Field Development: The first stage of the Nabrajah Field Development is nearing completion and first oil is expected end of June. The initial production capacity of Nabrajah will be 5,000 BOPD (gross), increasing to 15,000 BOPD (gross) during August. As previously reported some of the initial production facilities have been arranged through lease contracts in order to accelerate production start-up and to ensure an optimized design of the permanent facilities. The current plan is to have permanent production facilities with higher capacity installed by April 2006. The production capacity of the permanent production facilities on Nabrajah will be based on the outcome of the ongoing reserve estimates following the Nabrajah # 5 Basement and Kohlan oil discoveries. The Block 43 partners are: DNO ASA: 56.67 % (Operator) Oilsearch (Yemen) Limited: 28.33 % The Yemen Company: 15.00 % (carried) DNO ASA 25 April 2005 Contact: Helge Eide, Managing Director Telephone: (47) 55 22 47 00 / (47) 23 23 84 80

To: RRainman9999 who wrote (9188)	5/10/2005 2:25:22 PM
From: Crossy	Respond to of 37387

re: PA Resources - PAR.OL - 67 NOK Quarterly Update out today.. as expected.. trying to get hold of "soft data" and will also try to talk to CEO Ulrik Jansson newsweb.no newsweb.no one surprise .. they are hinting a "Norwegian property acquisition" .. whatever that may be (I guess offshore) rgrds CROSSY

To: RRainman9999 who wrote (9188)	5/11/2005 1:12:37 PM
From: Crossy	Read Replies (1) \| Respond to of 37387

re: DNO.OL (DNO ASA) - 66.50 NOK dno.no great results, cashflow expanded nicely, and the best is that the Presentation hints at almost doubling production later in the year with their Nabrajah discovery that should get onstream in June DNO ASA - Interim Results - First Quarter 2005 11.05.2005 DNO shall create values from smart exploration, cost effective field developments and high margin production. During the first quarter of 2005 DNO achieved an operating profit of NOK 212.8 million and a net profit of NOK 143.8. The 2 P reserves increased by 54 % at cost less than one USD per barrel, and DNO delivered a reserve replacement ratio of 1 200 % during the first quarter. These achievements clearly demonstrate that the revised strategy is already adding new values to our shareholders. Highlights for the First Quarter 2005 Continued success from drilling in Yemen Further expansion of portfolio with substantial un-risked resource potential in Norway. Increase in proven plus probable reserves by 15.6 mboe to 42.8 mboe. Excellent reserve economics Signed Memorandum of Understanding (MoU) with the Ministry of Oil in Baghdad - We are pleased with our achievements during the first quarter of 2005. Good progress has been made both in Yemen and Norway, which is clearly seen from our strong reserve economics. The signing of the MOU with the oil ministry in Baghdad is an important step towards a long-term presence for DNO in Iraq. Seismic acquisition within the PSA area in Northern Iraq is expected to commence in the near future. - Going forward, we will continue our efforts to add reserves at low cost. Following the recent basement oil discovery within the Nabrajah area, a further upgrade of the reserves will be made during the second quarter of 2005, says Managing Director of DNO ASA, Helge Eide. DNO had operating revenues of NOK 299.8 million (NOK 255.8 million) in the first quarter 2005, while the operating revenues in the fourth quarter 2004 was NOK 338.0 million. As expected lower production is the main reason for the reduction in revenues compared with Q4 2004, but the effect has been partially offset by higher oil prices and favorable USD/NOK. DNO achieved an operating profit (EBIT) of NOK 212.8 million (NOK 118.6 million) in the first quarter 2005. Net profit amounted to NOK 143.8 million (NOK 20.1 million). A full interim report and investor presentation is accessible at DNO's website: www.dno.no The full report including tables can be downloaded from the following link: hugin.info The presentation can be downloaded from the following link: hugin.info For further information, please contact: Helge Eide, Managing Director 23 23 84 80 or 55 22 47 00 Haakon Sandborg, Chief Financial Officer 23 23 84 80

To: RRainman9999 who wrote (9188)	5/12/2005 2:51:40 PM
From: Crossy	Read Replies (1) \| Respond to of 37387

re: PA Resources (PAR.OL) - Yemen news ? this unconfirmed newspaper report (no company PR so far) mentions PA Resources as a winner to Yemen exploration acreage.. would be great news and put the company in a new type of class.. (just look at the other firms being mentioned having obtained blocks) rgrds CROSSY yementimes.com companies gain excavation contracts, Budgets Higher Committee forms team to check oil revenues accounts -------------------------------------------------------------------------------- Mahyoub Al-Kamaly The Higher Committee of Budgets has set up a team for checking accounts of oil revenues. The higher committee presided by Prime minister, the chairman of the committee, Abdulqader Bajammal discussed the general framework and indicative ceilings of the state budget draft for the fiscal year 2006 presented by the ministry of finance. The meeting also discussed the proposed alternatives for the preparation of the draft, taking into consideration economic and financial variables at both local and external levels and orientations of comprehensive reform processes. Setting up a team for auditing oil accounts has come after the announcement that 20 world oil companies have qualified in winning rights to concession and excavation of oil and gas in seven open sectors, namely (7,34, 37, 39, 55, 74, 75). Seven other companies have been excluded from competition for failing to meet conditions necessary for qualifications to operate oil sectors in Yemen. Official oil sources said contracts went to those companies following a process of analysis and technical financial evaluation of the 27 competing companies. Evaluation and analysis of the companies’ tenders were conducted by the tenders committee. According to the official oil sources. The companies that won the contracts were: the Korean KNOC, Russian consortium ZAAB, Kazakh MND, the U.S. OCCIDENTAL, the Malaysian PETRONAS, the Indian ONGC, Indian Oil Company Ltd., The Austrian OMV, The Chinese CNOOC, The Swedish PA RESOURCES AB, The Australian OILSEARCH, The Indian RELIANCE, The Indian ESSAR, The Pakistani ZAVER PETROLEUM GULR Ltd. , The Moldovan GROUP OCACOM, The Omani PETROGAS, The Indian NIIPL The French TOTAL, The Canadian NEXEN and the Emirates Al-Thani Company for Investment. Chairman of the Oil Exploration and Production Establishment Eng. Nabeel Saleh al-Qawsi mentioned that tenders committee was finalizing procedures of that international tender according to the current stage and within the program approved by the ministry of oil and minerals. The committee would present information on sectors included in the tender, provided that final offers of qualified companies are to be received on the 2nd of July to be studied and analyzed by the specialized committee and then to be endorsed by the minister of oil and minerals. After that, there would be an announcement on final results of evaluation and naming the winner companies on 23 July 2005. The Yemeni government aspires for increasing its oil production to encounter the deficit in the state general budget. In this regard, the Higher Committee for Budgets has confirmed the necessity of containing the deficit and stopping it at an allowed limit at the final preparation of the general draft budget for the year 2006. All this takes into account the economic and financial reform program, in affirmation of the process of full and comprehensive reform in all fields and with concentration on rural development projects and program that would contribute to absorption of unemployment and provision of more job opportunities especially for poor segments of the society. The meeting has also approved the formation of a working team to examine and audit accounts of the oil revenues, whether those yielded by crude oil or refineries production and dependence of correct figures based on testimonies of experts and operators regarding estimation of reserves in the new oil fields. The meeting stressed the necessity of activating the results reached within the framework of agreement on fighting of corruption in the draft state budget. The meeting considers that as important in the endeavour for alleviation of poverty and encountering of resources squander as corruption represents a tumbling stone before success of reforms and d3evelopment plans. Announcement on those companies’ qualification for working in oil area s coincides with the orientation of encouraging the private sector to practice investment activities in this field and other areas. Among the importance of such fields are the navigation activities. The Yemeni government has directly worked for, as part of privatization efforts, attracting specialized world companies to pursue activities of marine transport and maintenance services. So far, there are more than 40 local and foreign companies working in areas of navigation agency functions, goods delivery and ship supplies. The government continues at the same time, its efforts for the implementation of its decisions on attraction of local and external specialist parties in administration of marine transport activity, maintenance and repair of ships in participation with the state according to agreed upon formulas. Operations of rehabilitation of existing ports and pursuing openness policies in marine transport sectors have led to an increase in growth of maritime trade movement. The number of ships frequenting ports had, in 2003, amounted to 3354 against about 1100 ships in 1995. In 2004, the total amount of dry goods delivered at ports reached 7.8 million tons compared to 4 million tons in 1990. Quantities of oil delivered at the ports in 2004 amounted to 19.5 million tons against 17 million tons in 1990. In the year 2004, the number of delivered containers increased from 28 thousand containers in 1990 to 420 thousands in 2004.