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To: whenitgoesup who wrote (1618)	10/19/2006 2:32:15 PM
From: ms.smartest.person	Read Replies (2) \| Respond to of 3198

Did Pescod know something? This investment was issued 1 year before Pescod picked WR ... ENERGY 51, INC. SECURES C$17.8 MILLION EQUITY COMMITMENT 24-May-05 CALGARY, AB (May 24, 2005). Energy 51, Inc. (“Energy 51”) today announced that it received equity funding commitments of up to C$17.8 million from affiliates of Greenhill Capital Partners, LLC (“GCP”) and COSCO Capital Management LLC (“COSCO”), both of New York, NY. Energy 51 is a private oil and gas company focused on exploration and development in central Alberta, including a strategic joint venture with publicly-traded Watch Resources Ltd. (“Watch”) in the Fishing Lake area. Paul Watson, Randy Buchanan and Gary Browne, all of whom have had many years of experience in the energy business in Canada, founded Calgary-based Energy 51 in April 2004. The team’s track record includes prior roles at Barrington Petroleum, Summit Resources, Trafina Energy, Macedon Resources, Eurogas, and Lexoil. Mr. Watson is President of Energy 51 and Watch, while Mr. Buchanan will serve as Vice President of Energy 51 and Watch. GCP is an affiliate of Greenhill & Co., Inc. (NYSE: GHL), an independent global investment banking firm. GCP manages several private equity funds that have raised nearly US$1 billion of capital. Energy is one of GCP’s three focus industries and represents approximately one-third of committed capital to date. Energy 51 is GCP’s 12th energy related portfolio company, but is its first investment in Canada. GCP Managing Director Frank Pottow noted: “Energy 51 marks a return to the Canadian oil patch for me following successful experiences investing with Archer Resources and Canrise Resources in the early 1990s. We believe that the current environment creates new opportunities for small drilling-focused companies such as Energy 51 to partner with large landholders to better develop their acreage.” Paul Watson, President of Energy 51, added: “We are delighted with the strong financial and management sponsorship of GCP and pleased that they have selected us for their entrance to Canada.” Cameron Smith, founder and Sr. Managing Director of COSCO, said, “This is our second energy financing with GCP so far this year. Energy 51 is an exciting company with strong, experienced management. We are pleased to match them up with one of the foremost US energy investors, one who understands the unique characteristics of the Canadian marketplace.” Through its NASD affiliate, Private Energy Securities, Inc, COSCO’s Canadian subsidiary, COSCO Canada Ltd, acted as exclusive advisor and placement agent to Energy 51. greenhill-co.com