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Strategies & Market Trends : TATRADER GIZZARD STUDY--Stocks 12.00 or Less..... -- Ignore unavailable to you. Want to Upgrade?

To: gulleyjimson who wrote (52282)	12/16/2005 11:44:23 AM
From: hotlinktuna	Respond to of 59879

Hope so gulley! Watch BFO.V too 1.95 +.12 ask 1.99 may see 2's very soon on it's recent positive news: Buffalo Oil Flow Through Financing, Drilling Update and Guidance Thursday December 15, 8:00 am ET CALGARY, ALBERTA--(CCNMatthews - Dec. 15, 2005) - The Buffalo Oil Corporation (TSX VENTURE:BFO - News; "Buffalo") is pleased to announce the completion of its previously-announced brokered private placement of flow-through common shares. Buffalo issued 1,052,632 common shares at a price of $1.90 per share for gross proceeds of $2,000,000. Net proceeds from the financing will be used to fund Buffalo's 2006 drilling program. Northern Securities Inc. acted as underwriter in connection with the financing. ADVERTISEMENT Buffalo announces the completion of its 2005 capital program in which the Company drilled 18 wells (6.9 net) at a 94% success rate. In the fourth quarter 2005, Buffalo drilled 13 wells (5.7 net) at Frog Lake, Alberta. Of these five are currently on production and the remainder are expected to be producing by year end. Included are the first nine development wells drilled by a senior producer in a McLaren oil pool discovered in 2004. Buffalo has a 15% working interest and expects up to 20 additional wells to be drilled. During the quarter, Buffalo also drilled its first successful horizontal oil well at Heward in southeast Saskatchewan. Better than expected Q-4 drilling results will allow Buffalo to exit 2005 at a production rate of approximately 1,300 boepd. Based on this exit rate Buffalo expects Q-1 2006 cash flow of $1.7 million ($0.12 per share). Buffalo remains debt free with $2.0 million of cash on hand and a $4.7 million credit facility. The Company currently has 14,263,438 shares issued and outstanding. Buffalo is a new Canadian junior oil and gas company engaged in the exploration, development and production of oil and gas reserves in the provinces of Alberta and Saskatchewan. This press release contains forward-looking statements. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, reliance should not be placed on forward-looking statements. Buffalo's actual results, performance or achievement could differ materially from those expressed in, or implied by these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits that Buffalo will derive therefrom. Buffalo disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release. Contact: Trevor Penford The Buffalo Oil Corporation President and C.F.O. (403) 252-2462 Email: tpenford@buffalo-oil.com William (Bill) Trickett The Buffalo Oil Corporation Chairman and C.E.O. (403) 252-2462 (403) 252-1399 (FAX) Email: btrickett@buffalo-oil.com Suite 211, 7710 - 5th Street S.E. The Buffalo Oil Corporation Calgary, Alberta T2H 2L9 -------------------------------------------------------------------------------- Source: The Buffalo Oil Corporation