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Tandem is currently realizing gross income per month from its existing operations of $800,000, with current realized monthly net cash flow equal to $600,000. Such monthly gross income will increase to $1,300,000 per month and net cash flow of $1,000,000 per month when the Shamrock assets are acquired by Tandem in the next sixty days. The Company will begin its 2005 drilling and workover program in April with the drilling and workover of 10 development wells on the Kingfisher, Oklahoma, and Montgomery, Kansas leases that are owned by Tandem. Tandem's objective is to drill and workover a total of 80 development wells on its existing leases throughout the remainder of 2005. Based upon projections that include an assumption of an average of $40 per barrel of oil and $5 per MCF of gas, the Company should increase its monthly gross income to $2,700,000 and net cash flow per month of $2,200,000 by the end of the 2005 drilling program. Should oil and gas prices remain at their current levels, it is reasonable to assume that the Company could realize a 20% increase in both gross income and net cash flow above current projections. Tandem has outstanding common share of 22, 250,000 common shares, which is comprised of 20,250,000 of restricted share and 2,000,000 in the free trading float. There are presently no outstanding preferred stock, warrants or stock options. Based upon the current fully diluted shares outstanding, the Company on an annualized basis by the end of this year, should recognize earnings, before interest, taxes, depreciation and amortization of $1.19 per share. Tandem presently has under lease approximately 30,000 acres with over 250 development drilling locations offsetting current producing wells and is in the enviable position of owning sufficient acreage to support a full three year drilling program without making other acquisitions. Tandem's management projects drilling an additional 100 development wells on its leases in 2006, increasing its EBITDA to a minimum of $1.70 per current outstanding share. About Tandem: Tandem Energy Holdings Inc. was formed to acquire 100% of the outstanding stock of Tandem Energy Corporation and to acquire other low-risk oil and gas properties located in Texas, New Mexico, Oklahoma, and Kansas. The Company combines principal shareholders with over 100 years of oil and gas experience, whose goal is to use their combined talents to build a major independent oil and gas company. Tandem has proven producing and proven unproducing reserves of $64,872,147. The acquisition of the Shamrock assets will increase producing and proven unproducting reserves to $252,623,452. Tandem expects to complete its financial audit and receive its independent engineering report, which will be issued according to SEC standards, within the next 75 days. At that time, the Company will file all necessary reports with the SEC to gain reporting company status, and immediately apply for a listing on the Nasdaq NMS exchange or AMEX with the goal of obtaining such a listing no later than the end of the third quarter of 2005. The members of the Board of Directors and officers of Tandem include: Todd M. Yocham: CEO and President, Director -- Mr. Yocham is a Registered Professional Engineer in Texas. He has worked in the oil and gas industry for 23 years with an extensive background in drilling, production, and reservoir engineering. Michael G. Cunningham Chief Financial Officer-- Mr. Cunningham, who has 25 years of experience in the oil and gas industry with a specialty in oil and gas accounting, will be joining the Company on May 9, 2005. Mr. Cunningham is leaving his current position as controller of Clayton Williams Energy, Inc.As the CFO, Mr. Cunningham will have primary responsibility for the completion of the financial audit of Tandem and its subsequent filing to become a reporting company, along with its listing on a senior stock exchange, which is contemplated in the third quarter of 2005. Jack A. Chambers: Director -- Mr. Chambers has a strong background in daily management and operations of an oil and gas drilling and production company. He was a founding partner of Shamrock Energy Corporation and has worked in the oil and gas industry for 26 years. Tim G. Culp: Director -- Mr. Culp is a Certified Public Accountant in Texas. He was a founding partner of Tandem Energy Corporation and has worked in the oil and gas industry for 24 years. Rex Chambers: Director -- Mr. Chambers received his petroleum engineering education from Texas Tech University. He is a veteran of the oil field for over 60 years and has always focused primarily in field operations to include drilling, production, and processing. Share structure Authorized 100,000,000 Issued 22,250,000 of those Restricted shares 20,250,000 Public float 2,000,000 tandemenergyholdings.com INVESTOR RELATIONS 415-884-0348 this board has been set up for discussion of Tandem Energy, off topic messages will be deleted | ||||||||||||||
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