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To: ms.smartest.person who wrote (1611)	10/18/2006 10:56:09 PM
From: ms.smartest.person	Respond to of 3198

&#8362 David Pescod's Late Edition October 17, 2006 CORRIDOR RESOURCES (T-CDH) $5.83 +0.07 PETROLIFERA PETROLEUM (T-PDP) $23.80 -0.43 VULCAN MINERALS (V-VUL) $0.50 -0.05 Andy Gustajtis of Dominick and Dominick has been one of our favorite stock pickers over the last year, because in a resource market that has suddenly turned ugly, some of his picks have still been some of the top performers for the year. More importantly, many of them have been stories you would probably have had trouble taking to immediately. For instance, who would have thought of an oil play in Argentina or for heaven sakes, looking for natural gas in New Brunswick? But Petrolifera Petroleum and Corridor Resources have worked out very well over the last year, don’t you think? Yesterday, he did an update on Corridor Resources as the company announced it has commenced construction of the first major natural gas pipeline and facility in the Province of New Brunswick. He writes, “Over the last six years the Company has drilled a total of 20 successful natural gas wells in the McCully Natural Gas Field with NO-dry holes. Natural gas in-place is estimated to exceed one trillion cubic feet and how much of it can be produced, remains to be determined.” He adds, “This discovery is analogous to the deep basin centered natural gas discoveries enjoyed at both Jonah and Pinedale in SW Wyoming.” He mentions that “both these fields rank as among the largest in North America.” He believes, “that in the fullness of time, the McCully Natural Gas Field will be developed in a similar manner with hundreds of wells.” He also points out that Corridor has an “extraordinary advantage in that its holdings are virtually 100% in the entire basin (subject to 4 section with a 50% interest with Potash Corp.)” He adds that, “With the development of the next phase, 30 mmcfpd is expected to have natural gas flowing into Boston in early 2007 and the company will have cash flow that we estimate should exceed $40 million in 2007.” He adds, “The pipeline will have a design capacity of just under 90 mmcfpd which could ultimately generate over $100 million in annual cash flow for Corridor.” Of course it gets very interesting, we believe, when they drill they Dawson Settlement, an additional target under the McCully Field that seismic suggests if the gas is there, could be many times what they have already found. Gustajtis describes it this way; “This play could prove to be considerably larger than the already confirmed One TCF in the Hiram Brook Formation. A TCF is worth a cool $2 billion even in this difficult natural gas market.” When we caught up with Gustajtis today, he is looking at charts, wondering what next for oil and suggests that if oil does goes up through $62.00, that to him would signal a reversal in the downtrend on oil prices. Meanwhile, what is he buying today? Well, you would expect something that is a little bit different, wouldn’t you, and sure enough that’s what he’s up to...Vulcan Minerals is drilling an oil play...in of all places...onshore Newfoundland! TUSK ENERGY (T-TSK) $3.31 +0.01 Just last Friday in our little bet with Allan Laird we picked Tusk Energy as one of our oily stocks, hoping it outperforms Laird’s gassy stocks. Tusk Energy is led by Earl Hickok and in case you are curious...yes, he is a very distant relative of “Wild-Bill Hickok”. Recently brought in to run Tusk, he came on board because he liked what he saw and that was mainly their oil and some gas prospects up in the Mega and Gutah areas of Alberta. It’s an area about 60 miles by 20 miles that Hickok tells us has lots of potential. Right now, Tusk only produces about 1100 barrels a day which ain’t that much considering its market cap...it’s expensive production, but Hickok predicts that come this spring, that production should be more than double that level. One thing Tusk has, is several wells that came in at 1000 barrels a day that are only producing at a fraction of that until GPP practices are approved. Meanwhile, Canaccord analyst Wendy Liu writes, “The access road to the Mega-Gutah area will extend the drilling season beyond the winter period and accelerate the development in those areas.” For a good background look on Tusk, contact Sandra at Sandra_wicks@canaccord.com for Liu’s report. Liu has a target of $5.00. Some other followers of the company such as Alex Squires of Brant Securities, has targets higher than that because of what he hopes can be found in the Mega/Gutah area down the road. Disclosure: Tusk Energy: Canaccord Capital covers this stock and has a Speculative Buy rating on it. (Speculative buy: Stocks bear significantly higher risk that typically cannot be valued by normal fundamental criteria. Investments in the stock may result in material loss.) Canaccord has recently participated in a financing for Tusk Energy. If you would like to receive the Late Edition, just e-mail Debbie at debbie_lewis@canaccord.com

To: ms.smartest.person who wrote (1611)	10/18/2006 10:56:31 PM
From: ms.smartest.person	Read Replies (1) \| Respond to of 3198

&#8362 David Pescod's Late Edition October 17, 2006 CORRIDOR RESOURCES (T-CDH) $5.83 +0.07 PETROLIFERA PETROLEUM (T-PDP) $23.80 -0.43 VULCAN MINERALS (V-VUL) $0.50 -0.05 Andy Gustajtis of Dominick and Dominick has been one of our favorite stock pickers over the last year, because in a resource market that has suddenly turned ugly, some of his picks have still been some of the top performers for the year. More importantly, many of them have been stories you would probably have had trouble taking to immediately. For instance, who would have thought of an oil play in Argentina or for heaven sakes, looking for natural gas in New Brunswick? But Petrolifera Petroleum and Corridor Resources have worked out very well over the last year, don’t you think? Yesterday, he did an update on Corridor Resources as the company announced it has commenced construction of the first major natural gas pipeline and facility in the Province of New Brunswick. He writes, “Over the last six years the Company has drilled a total of 20 successful natural gas wells in the McCully Natural Gas Field with NO-dry holes. Natural gas in-place is estimated to exceed one trillion cubic feet and how much of it can be produced, remains to be determined.” He adds, “This discovery is analogous to the deep basin centered natural gas discoveries enjoyed at both Jonah and Pinedale in SW Wyoming.” He mentions that “both these fields rank as among the largest in North America.” He believes, “that in the fullness of time, the McCully Natural Gas Field will be developed in a similar manner with hundreds of wells.” He also points out that Corridor has an “extraordinary advantage in that its holdings are virtually 100% in the entire basin (subject to 4 section with a 50% interest with Potash Corp.)” He adds that, “With the development of the next phase, 30 mmcfpd is expected to have natural gas flowing into Boston in early 2007 and the company will have cash flow that we estimate should exceed $40 million in 2007.” He adds, “The pipeline will have a design capacity of just under 90 mmcfpd which could ultimately generate over $100 million in annual cash flow for Corridor.” Of course it gets very interesting, we believe, when they drill they Dawson Settlement, an additional target under the McCully Field that seismic suggests if the gas is there, could be many times what they have already found. Gustajtis describes it this way; “This play could prove to be considerably larger than the already confirmed One TCF in the Hiram Brook Formation. A TCF is worth a cool $2 billion even in this difficult natural gas market.” When we caught up with Gustajtis today, he is looking at charts, wondering what next for oil and suggests that if oil does goes up through $62.00, that to him would signal a reversal in the downtrend on oil prices. Meanwhile, what is he buying today? Well, you would expect something that is a little bit different, wouldn’t you, and sure enough that’s what he’s up to...Vulcan Minerals is drilling an oil play...in of all places...onshore Newfoundland! TUSK ENERGY (T-TSK) $3.31 +0.01 Just last Friday in our little bet with Allan Laird we picked Tusk Energy as one of our oily stocks, hoping it outperforms Laird’s gassy stocks. Tusk Energy is led by Earl Hickok and in case you are curious...yes, he is a very distant relative of “Wild-Bill Hickok”. Recently brought in to run Tusk, he came on board because he liked what he saw and that was mainly their oil and some gas prospects up in the Mega and Gutah areas of Alberta. It’s an area about 60 miles by 20 miles that Hickok tells us has lots of potential. Right now, Tusk only produces about 1100 barrels a day which ain’t that much considering its market cap...it’s expensive production, but Hickok predicts that come this spring, that production should be more than double that level. One thing Tusk has, is several wells that came in at 1000 barrels a day that are only producing at a fraction of that until GPP practices are approved. Meanwhile, Canaccord analyst Wendy Liu writes, “The access road to the Mega-Gutah area will extend the drilling season beyond the winter period and accelerate the development in those areas.” For a good background look on Tusk, contact Sandra at Sandra_wicks@canaccord.com for Liu’s report. Liu has a target of $5.00. Some other followers of the company such as Alex Squires of Brant Securities, has targets higher than that because of what he hopes can be found in the Mega/Gutah area down the road. Disclosure: Tusk Energy: Canaccord Capital covers this stock and has a Speculative Buy rating on it. (Speculative buy: Stocks bear significantly higher risk that typically cannot be valued by normal fundamental criteria. Investments in the stock may result in material loss.) Canaccord has recently participated in a financing for Tusk Energy. If you would like to receive the Late Edition, just e-mail Debbie at debbie_lewis@canaccord.com