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Gold/Mining/Energy : Canadian Oil & Gas Companies -- Ignore unavailable to you. Want to Upgrade?

To: Richard Saunders who wrote (5042)	5/4/1998 3:20:00 PM
From: KC Jones	Read Replies (1) \| Respond to of 24921

Kerm/All/C.CPO I'm looking for any info on Coral Sea Petroleum, trades on the Alberta Exchange. Less than 2,000,000 shares out. Any idea where they have property or where they're drilling? Appreciate any info I can get. KC

To: Richard Saunders who wrote (5042)	5/7/1998 3:38:00 PM
From: Kerm Yerman	Read Replies (3) \| Respond to of 24921

Richard / Upton Resources Here'e the most recent information I have on Upton Resources. The source of information is the company itself and is recent. Strategy for 1998 Leverage Williston Basin Success Expand Into US Portion Of The Basin Growth Thru Exploration, Development & Acquisition Investigate New Core Area Moving Forward Focus On Williston Basin In U.S. & Canada Three (3) Year Prospect Inventory Balanced Exploration & Development Strong Production Growth Strong Reserve Growth Per Share Performance Capital Budget For 1998 Region Canada U.S. Development $ 13.0 mil $ 1.0 mil Exploration $ 3.5 mil $ 6.5 mil Total $ 16.5 mil $ 1.0 mil 1998 Development Program Capex $ 14.0 mil Drilling 19 Net Wells Added Reserves 2.3 mmbbl's Exit Production 6,000 bbl's/d (includes facilities) 1998 Exploration Program Capex $ 1.0 mil Drilling 5 to 7 Net Wells Net Undev. Land 168,000 Acres Potential Added Res. 2.0 + mmbbl's Potential Production 500 bbl's/d Operational Objectives 1998* Average Production 5,500 bbl's/d Exit Production 6,000 bbl's/d Reserve Additions 4 mmbbl/s Cash Flow Forecast* Average WTI $16.00 $17.00 $18.00 Cash Flow (mil) $18.10 $20.30 $22.50 CF Per Share $ 1.08 $ 1.21 $ 1.34 Sensitivites Change Revenue CF Assumption In (000's) PS -- WTI US$1.00 $ 2,150 $ 0.13 $ 17.00 100 bbl's $ 530 $ 0.03 5,500 $0.01 Ca/US $ 230 $ 0.01 $ 0.705 Exchange Rate Corp. Share Data (millions) Current Status Outstanding 16.8 Fully Diluted 17.7 Mgmt./Insiders 3.8 Public Float 13.0 1997 Year End Debt $ 16.6 mil Cash Flow $ 22.9 mil Production Year Ending 1994 1995 1996 1997 1998(e) Average (bbl's/d) 1747 2150 3594 4852 5500 Exit Rate (bbl's/d) 1650 2600 4000 5250 6000 Cash Flow Year Ending 1994 1995 1996 1997 1998(e) $ Millions $ 6.3 $ 8.8 $18.2 $22.9 $20.3 $ Per Share $0.56 $0.74 $1.52 $1.52 $1.21 Reserves & Production Year Ending 1994 1995 1996 1997 1998(e) Production 0.6 0.8 1.3 1.8 2.0 Reserves mmbbl's 3.4 4.9 6.7 7.9 9.9 (proven + probable) Production netbacks Year Ending 1995 1996 1997 1998(e) SALES PRICE $21.42 $25.69 $24.18 $20.67 Royalties 3.88 5.83 4.64 4.34 Operating Costs 3.61 2.70 3.65 3.50 OPERATING NET BACK $13.93 $17.16 $15.89 $12.83 Gen'l & admin. 1.02 1.43 1.31 1.35 Interest 1.08 0.75 0.70 0.70 Capital Tax 0.69 1.14 0.94 0.67 CASH NET BACK $11.16 $13.84 $12.94 $10.11 RECYCLE RATIO 1995 1996 1997 1998(e) Cash Netback $11.16 $13.84 $12.94 $10.11 Finding & Devel. Costs 5.17 8.41 22.38 6.00 Recycle Ratio 2.20 1.60 0.60 1.70 Net Asset Value Year Ending 1994 1995 1996 1997 XXXX Discounted @ 12% $ 1.47 $ 2.22 $ 3.10 $ 3.65 XXXX Analyst Coverage (9) CIBC Wood Gundy....... Peter Linder Eagle & Partners...... Paul Beique First Marathon........ Andy Hogg Griffits McBurney..... Lyla Knowalchuk SBC James Capel....... Andy Gustajtis Nesbitt Burns......... Kim Page Peters & Co. ......... Wilfred Gobert Scotia Capital........ Henry Cohen Sprott Securities .... Tom Ebbern