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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 (9638)	5/23/2005 4:11:37 AM
From: Crossy	Read Replies (1) \| Respond to of 37387

re: DNO.OL - NOK 68 - Bingo !! - 75MMBOE Everything in place now to continue the homerun. We just more than doubled our reserves with Nabrajah's basement and Kohlan updates to 75 MMBOE !! Another goodie in the NR .. Nabrjah field now expected to have 50.000bopd peak production capacity !! Kicking in at 5000bopd late June, it's expected to reach 15.000bopd in August enjoy CROSSY dno.no Updated Reserves in Nabrajah, Block 43 Yemen 23.05.2005 - Based on the first evaluation of the recent Basement and Kohlan oil discovery, the proven and probable reserves in the Nabrajah field are estimated at 68 million barrels (44 million barrels net to DNO, pre-tax). This will increase DNO's total proven plus probale reserves to 75 million barrels. A 932 sq. km development area in Block 43 has now been approved by the Yemen authorities. Revised Nabrajah Reserves: As previously reported, Nabrajah # 5 confirmed the presence of oil in both the Basement and the Kohlan formations. The Basement interval produced 5,800 BOPD and the Kohlan produced 4,180 BOPD during production testing. Nabrajah # 5 has been suspended for future use as a Basement and Kohlan oil producer. The Basement and Kohlan oil discoveries in Nabrajah # 5 are different hydrocarbon systems than the shallower Qishn reservoir, which until now has formed the reserve basis for the Nabrajah Development. Based on DNO's first evaluation the oil discoveries made in the Basement and Kohlan intervals in Nabrajah # 5 have increased the combined proven and probale reserves in Kishn, Kohlan and Basement to 68 million barrels (44 million barrels net to DNO, pre-tax). As a consequence of the Basement and Kohlan oil discoveries, the Block 43 partners have revised the drilling schedule. Nabrajah # 6, which is currently being drilled, is intended as a Qishn water injector for reservoir pressure maintenance. Thereafter a Basement appraisal program will be undertaken, which could include the drilling of up to 4 additional Basement wells in 2005. The Basement is producing oil in both Block 10 (operated by Total) and Block 14 (operated by Canadian Nexen Petroleum Yemen), and has become an important target for exploration drilling in the Masila basin. 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 production facilities. Following the Basement oil discovery in Block 43, DNO will increase its focus on Basement prospects in its other licenses in Yemen, and the company has already launched a study to identify Basement drilling targets in Block 32. Revised Production Capacity of The Nabrajah Field: The first stage of the Nabrajah Field Development is nearing completion and first oil is expected at the end of June. The initial production capacity will be 5,000 BOPD (gross), increasing to 15,000 BOPD (gross) during August 2005. 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. As a consequence of the revised oil reserves reported above, the capacity of the production facilities will be increased stepwise to 50,000 BOPD, and full production capacity is expected to be achieved in the 4th Quarter 2006. The Block 43 partners are: DNO ASA: 56.67 % (Operator) Oil Search (Yemen) Limited: 28.33 % The Yemen Company: 15.00 % (carried) DNO ASA, 23rd May 2005 Contact: Helge Eide, Managing Director Telephone: (47) 55 22 47 00 / (47) 23 23 84 80

To: RRainman9999 who wrote (9638)	7/22/2005 6:06:39 AM
From: Crossy	Read Replies (1) \| Respond to of 37387

re: Imperial Energy - IEC.L - UK/AIM - GBP 4,25 posted huge reserve numbers recently. P2 (P+P) came in around 160 MMBOE. And P3 I have on my tip sheet as approaching 2 BILLION Barrels of possible reserves.. Properties are in Russia and Kazakhstan The P2 alone is trading at big discount (50%) to implied net asset value. They already drilled a number of wells on their many properties. Mostly workovers which were then succesfully fracced. But development and exploration wells are coming too. Production will start early 2006 - guidance of > 2000 BOPD was given. The firm appears to be solidly financed with more than USD $20m cash in the bank. Appears to be materially undervalued on a NAV basis alone. Good for at least a 50% price increase on this undervaluation alone. And when oil will start flowing early next year it's BINGO ! Stock has been acting strongly over the past couple of days also when the rest of the oilpatch corrected. Independant assessment of its interests in Western Siberia conclude that • 2P (P50) expected recoverable reserves of 157 million barrels net to Imperial • The net present value ('NPV') discounted at 10%, net to Imperial is estimated at $410 million (= £234 million) on the basis of oil at $30 / bbl rising to $608 million (= £347 million) using $40 / bbl oil • Substantial technical and commercial upside within the fields • In addition, a number of other prospects are under review which could substantially increase these figures Current market capitalisation is £73 million and at 31 December IEC had £13 million in cash. I make that at least a 70% discount to NAV (or potentially 80% at $40 /bbl). Looks very good value at first glance. Evening Standard has a very bullish coverage. thisismoney.co.uk SHARES in independent oil explorer Imperial Energy were gushing today after the Aim-quoted Siberian driller said investigations found it has expected recoverable reserves of 157m barrels, giving it assets worth $410m (£235m) at conservative valuations. Imperial said independent consultants Tracs had given the 'proven and probable' thumbs-up to five fields in the Tomsk region of western Siberia. Imperial has equity holdings in the fields ranging from 51% to 80% in joint ventures with local investors. 'This has moved us into a different league,' said chairman and chief executive Peter Levine as analysts reckoned the reserves assessments put it on a par with other London-listed oil independents such as Paladin, JKX and Burren. 'We are now preparing a very aggressive schedule into 2006, including extensive drilling but also preparation for pipelines and processing facilities to handle what we now contemplate could be a very significant production increasing rapidly from 2008.' Shares in Imperial, floated 15 months ago at 25p, today leapt 37½p to 347½p giving the company a stock market capitalisation of more than £80m