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

To: Kerm Yerman who wrote (5269)	7/24/1998 10:33:00 AM
From: johnlag	Read Replies (2) \| Respond to of 24905

Kerm, here's some research on the participants and a little background info on the play. We combed back the discovery size to 800 million BOE. Let me know what you think. Thanks! PARTICIPANT OVERVIEW - EAST LOST HILLS PROSPECT JULY 23, 1998 The Play: Located in the San Joaquin basin of California, this region is one of the most prolific producing onshore areas in North America. The estimated ultimate reserve recovery exceeds 15 billion barrels of oil equivalent (BOE). There are eight fields that will produce more than 300 MILLION BOE each and three larger than a BILLION BOE. The East Lost Hills prospect is a 20,000 acre property located near Bakersfield. Estimates of reservoir size are based on assessments of the structure, which is 14 miles long and two miles wide. Prospect potential is 1.2 Billion BOE recoverable. A successful exploration program would make this one of the largest onshore discoveries of the decade, and exploitation of the field would include up to 100 development wells. Following is a brief discussion of the involved companies, their corporate information and structures. The following assumptions are based on a successful drill, discovering 800 million BOE recoverable, then subtracting 25% for royalties and other expenses: BERKLEY PETROLEUM BKP - TSE Shares Issued: 65,910889 % Interest: 15% Current Reserves: 93.5 Million BOE Net Reserve Impact: 90 Million BOE % Reserve Increase: 96% Current Share Price: $13.00 CDN PARAMOUNT RESOURCES POU - TSE Shares Issued: 53,953,600 % Interest: 7.5% Current reserves: 67 Million BOE Net Reserve Impact: 45 Million BOE % Reserve Increase: 67% Current Share Price: $14.00 CDN WESTMINSTER RESOURCES WML - TSE Shares Issued: 19,764,412 % Interest: 7.5% Current Reserves: 14.6 Million BOE Net Reserve Impact: 45 Million BOE % Reserve Increase: 308% Current Share Price: $7.00 CDN ELK POINT RESOURCES INC. ELK - TSE Shares Issued: 21,682,573 % Interest: 7.5% Current Reserves: 23.4 Million BOE Net Reserve Impact: 45 Million BOE % Reserve Increase: 192% Current Share Price: $5.00 CDN STANFORD OIL AND GAS LTD. SOG - VSE Shares Issued: 12,982,959 % Interest: 4.92% Current Reserves: 5.6 Million BOE Net Reserve Impact: 29.5 Million BOE % Reserve Increase: 526% Current Share Price: $0.60 CDN HILTON PETROLEUM LTD. HTP - VSE Shares Issued: 7,393,134 % Interest: 4.92% Current Reserves: 2 Million BOE Net Reserve Impact: 29.5 Million BOE % Reserve Increase: 1,475% Current Share Price: $1.75 CDN RICHLAND PETROLEUM CORP. RLP.A - TSE Shares Issued: 12,646,028 % Interest: 3.75% Current Reserves: 8.6 Million BOE Net Reserve Impact: 22.5 Million BOE % Reserve Increase: 261% Current Share Price: $3.00 CDN