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A GLOBAL RESOURCE COMPANY PROFILE CAYC IS A PUBLICLY TRADED COMPANY. Caye Chapel, Inc. (OTC-BB-CAYC) recently acquired privately owned Churchill Resources, Inc. (Churchill). Included in the Churchill acquisition, were 800,000 shares of publicly traded Titan Energy Corp, Inc. (OTC-BB-TANC) and a minority interest in Oilex, Inc. (OTC- BB- OLEX). TANC currently has 650 wells on a 4,500 acre lease with estimated proven reserves of 22 million barrels of recoverable oil in the Corsicana field, which is located approximately 50 miles south of Dallas, Texas. Additionally, TANC manufactures and sells Portable Swabbing Units at a price of $125,000 each. These units are designed to recover oil at a fraction of the cost of all previously known production methods. By far, TANC's greatest asset lies in the Eromanga Basin in Queens Land, Australia on ATP 615, where TANC owns 100% of the working interest on approximately 12.9 million acre oil and gas concession. The significance of this asset can be realized through the fact that on ATP 615 lies one of the largest known geological grabens in the world. One of the structures stretches out 60 miles, making it twice the size of the Persian Gulf graben which currently holds the largest known oil reserves. Third party estimates of ATP 615 have identified approximately 26 geological anomalies. Based on only 2 discoveries out of a potential of 26 anomalies , 500 BCF gas equivalent per new field could generate revenues in excess of $1.4 billion after field development; with an approximate 80% net revenue lease and an average gas price of $2.00 per mcf. On February 3, 1998, CAYC acquired all of the assets of Great Plains, Inc. . Great Plains owns over 1,800 shallow oil wells located on approximately 40,000 gross acres of oil, gas and mineral leases in 15 separate oil fields in South Central Texas. An independent third party engineering study estimates that the recoverable Proved- Producing reserves from the field to be 19,441,932 gross barrels of oil. The Proved Non-Producing reserves (behind pipe) are estimated to be 1,838,000 gross barrels of oil. Total third party independent reserve estimates for Proved-Producing, Proved-Non Producing and Probable Oil Production attributable to CAYC interest (from the Great Plains asset acquisition) from the 15 fields is 35,123,932 gross barrels, with cumulative estimated future revenue potential of $526.5 million at a $15 barrel benchmark basis. On February 25, 1998 CAYC entered into an agreement with publicly held Oilex, Inc. (OTC-BB- OLEX) for the issuance of a $2 million convertible debenture, convertible into OLEX shares at $2 per share. OLEX has already received $250,000 of the funding with the balance being provided as OLEX's cash flow needs are presented to CAYC. CAYC already owns a minority interest in OLEX and announced that it is accumulating additional shares in the open market place. OLEX owns 600 ñ wells, approximately $13.5 million in gross assets, no long term debt, 48 million ñ acre giant overriding royalty in Australia and owns all of its field and office equipment outright, keeping OLEX debt free with cash flow. Complementing all previous acquisitions, CAYC signed a letter of intent on March 3, 1998 to acquire privately owned McCormick Drilling Co., Inc.(MDI) based in Oil City, LA and it's wholly owned subsidiaries for $4.5 million. MDI owns 100% of the working interest in 43 leases, with over 400 oil and gas wells with reserve estimates in excess of 25 million barrels of recoverable oil. In addition to the oil and gas leases MDI also owns 3 fully equipped drilling rigs and transport equipment which are locked in on long term drilling contracts. MDI in 1997 had gross revenues in excess of $3 million, generating approximately $1.2 million in profit. On March 19, 1998 CAYC announced that it had entered into discussions with the Board of Oilex for a possible consolidation of the two entities. OLEX has approximately $14 million in net assets, owns 600 ñ wells, no long term debt and owns all of its field and office equipment outright. OLEX also has an overriding royalty interest in a 48 million ñ acre Australian oil and gas concession and 12,600,000 barrels of estimated recoverable oil. CAYC 1998 PRIORITIES ====================== GREAT PLAINS--APPLY PRODUCTION TECHNOLOGIES TO ASSETS ACQUIRED. McCORMICK DRILLING--SECURE ADDITIONAL DRILLING CONTRACTS, WHILE ENHANCING PRODUCTION. OILEX--INCREASE PORTABLE SWABBING PRODUCTION, DRILL NEW INFIELD WELLS AND INITIATE THE WESTVIRGINIA GAS PROJECT. STRENGTHEN BOARD,MANAGEMENT TEAM AND OFFICERS. ARRANGE TO PURSUE OUR FIVE YEAR REVENUE PLAN THROUGH AN INTEGRATED INVESTMENT BANKER AS A FUNDING AND FINANCIAL MARKET PARTNER. BROADEN SHAREHOLDER BASE. COMMENCE INSTITUTIONAL RESEARCH REPORTS. SECURE-CAYC'S LISTING TO NASDAQ OR AMEX. GROWTH-ACQUIRE CASH FLOW, RESERVES AND ASSETS THROUGH STRATEGIC ACQUISITION(S) COMBINED CAYC ASSETS PROFORMA PROJECTIONS Calculated in Millions of Dollars 1998 1999 2000 2001 2002 2003 ================================================================= CAPITAL SPENDING $4 mil $5 mil $6 mil $5 mil $5 mil ----- REVENUES $8 mil $15 mil $25 mil $50 mil $70 mil $80 mil CASH FLOW $3 mil $5 mil $9 mil $25 mil $30 mil $40 mil ================================================================= SHARES OUTSTANDING INCLUDES ACQUISITIONS 20 mil 22 mil 25 mil 27 mil 30 mil 30 mil RESERVE PROFILE ESTIMATES CURRENT AND PENDING ACQUISITION (S) CORPORATION OIL GAS ACREAGE WELLS PROVEN RESERVES ================================================================ GREAT PLAINS, INC. 21,200,000 40,000 1800 McCORMICK DRILLING 16,185,000 2,191 421 OILEX, INC. 12,632,000 5.3 BCF 48,943,051 602 ================================================================ TOTAL 50,017,000 5.3 BCF 48,985,242 2823 CORPORATE INFORMATION: Incorporated in the State of Nevada, November 8, 1994 CAYC is a publicly traded company. Trading Symbol CAYC COMPANY CONTACT: Jay Johnson North American Corporate Consultants, Inc 24835 Rancho Santa Teresa Dr. Suite # 102 Ramona, CA 92056 760- 788-6300 (PH) Trading Exchange: OTC- Bulliten Board Year End December 31. Authorized Shares 50,000,000 Common $.001 par value LEGAL: Shawn F. Hackman 1600 East Desert Road. Suite # 206-A Las Vegas, Nevada 89109 702- 732-2253 (PH) AUDITORS: Merdinger, Fruchter, Rosen & Corso, P.C. 888 Seventh Avenue New York, NY 10126 212- 757-8400 (PH) TRANSFER AGENT: Alpha Tech Stock Transfer 4505 South Wasatch Blvd. Suite # 205 Salt Lake City, Utah 84121 801- 278-1777 ( PH) INVESTMENT BANKERS: Baron-Marney Capital, Ltd. Kevin Murphy 3714 East Bay Drive, NW Gig Harbor, WA 98335 253- 851-4744 (PH) Fortress Financial Group Mark Kieft 600 West Broadway Suite # 1400 San Diego, CA 92101 800-545-3345 ( PH) PUBLIC/ INVESTOR RELATIONS C. Jones & Co. 6977 E. Chestnut Hill Street Highlands Ranch, CO 80126 303- 470-8783 ( PH) | ||||||||||||||
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