Diaz Resources Ltd (fka DZRFF)

[Renee]

DZRFF: Plan of Arrangement. Pursuant to a plan of arrangement under the Business Corporations Act (Alberta), Tuscany Energy Ltd. (?Tuscany?) acquired all of the issued and outstanding common shares of Diaz Resources Ltd. (?Diaz?) on the basis of 0.31 of a common share of Tuscany for each common share of Diaz.

http://www.otcbb.com/asp/dailylist_detail.asp?d=07/17/2013&mkt_ctg=NON-OTCBB

[Renee]

DZRFF: one for 25 reverse split:

http://www.otcbb.com/asp/dailylist_detail.asp?d=12/17/2012&mkt_ctg=NON-OTCBB

[mhlld]

This Oil and Nat Gas play is starting to wake up again, in here for a swing trade. GLTA

[MWM]

Message to Shareholders
Diaz’s first quarter 2008 revenue and cashflow results improved over the prior quarter and reversed the downward trend in production rates with the addition of several new producing wells.During the quarter, Diaz drilled the N.W. Speaks Robertson #1 Well in Lavaca County, Texas, which encountered multiple Wilcox sands. The well was fracture stimulated in early May 2008 in the lowest Wilcox gas zone and is currently producing 2.45 Mmcfd of natural gas and 32 barrels of oil, at 2,700 psi flowing pressure. In Canada, a discovery well from the 2007 winter program was brought on production at 500 Mcfd (Diaz has an 80% WI) and the workover of a horizontal oil well at Parkman, Saskatchewan added 50 Bbls per day of production net to the Company.

Financial
Revenue for the three month period ended March 31, 2008, totalled $3.17 million compared with $2.97 million in Q4 2007 and with $3.25 million in Q1 2007. Cash flow from operations increased to $1.64 million, or $0.02 per share compared with $1.20 million or $0.02 per share for Q4 2007 and with $1.56 million or $0.02 per share in Q1 2007. Diaz reported a loss for the three month period of $381,000 or $(0.01) per share versus a loss of $168,000 or nil per share in Q4 2007 and a loss of $278,000 or nil per share in Q1 2007.

Capital expenditures for the first quarter of 2008 totalled $2.48 million compared with $2.66 million in Q4 2007 and with $1.87 million in Q1 2007 and were financed from cash flow and an increase in bank debt.

Diaz completed the first quarter with a net current debt of $9.4 million versus $8.5 million at the beginning of the period. Diaz also had outstanding convertible debentures of $7.1 million that mature on March 26, 2012.

Production
Natural gas production for the first quarter remained steady averaging 4.0 MMcfd for Q1 2008 compared with 4.0 MMcfd for the prior quarter Q4 2007. Oil production increased to average 155 Bopd for Q1 2008 compared with 98 Bopd for Q4 2007. Overall, production has increased 6% to 816 BOEd for Q1 2008 compared with 773 BOEd for the prior quarter Q4 2007.

Business Outlook
In the second quarter, natural gas prices have increased to the range of $9.00 to $10.00 per Mcf resulting from low year-on-year gas storage inventories in Canada and in the United States. Diaz expects this strong natural gas price trend to continue at least in the near term and plans to increase its infill development program accordingly if operating cashflow exceeds the Company’s current cashflow forecast. The Company’s number one priority for the remainder of 2008 is to optimize existing natural gas properties while matching capital investment with operating cashflow.


On behalf of the Board,

D.K. Clark, Chief Operating Officer
R.W. Lamond, Chairman
May 12, 2008

[MWM]

Diaz is primarily a natural gas producer with 81% of its production for the three month period ended March 31, 2008, coming from natural gas wells. Diaz owns interests in producing properties in Alberta and Saskatchewan in Canada, and in Texas in the United States.

The Company’s overall production for the three months ended March 31, 2008, increased 6% over Q4 2007, however, the current quarter production decreased by 20% to average 816 BOEd compared to the first quarter 2007 average rate of 1,017 BOEd.

United States Exploration
In the first three months of 2008, Diaz participated in the drilling of a new gas well and two unsuccessful completions.

N.W. Speaks Robertson #1 Well, Lavaca County, Texas – Working Interest 21.6%
During Q1 2008, the Robertson #1 well was drilled to a total depth of 13,575 feet and production casing has been installed.

Based on the Company’s log analysis, the well has encountered several Wilcox gas zones, two of which were the primary objectives for the well and these two sands have been proven productive within the same structure.

The well was fracture stimulated in the lowest Wilcox gas zone in early May 2008 and is currently producing 2.45 Mmcfd of natural gas and 32 barrels of oil, at 2,700 psi flowing pressure. Based on the Company’s interpretation of the seismic and geology there are two more development locations which could be drilled on this structure.

Black Owl, Wharton County, Texas – Working Interest 24.4%
The Black Owl #1 well continues to be a steady producer averaging 1.5 Mcfd and 23 Bopd since production began in November 2007. Diaz is actively pursuing additional prospects in the area.

Cheney, Colorado County, Texas – Working Interest 20%
During Q1 2008, the Cheney #1 well was fracture stimulated in the Wilcox 18 sand. The well was flow tested for sufficient time to recover the frac fluid but ultimately did not yield an economic production rate. The well will be abandoned during the third quarter.

Wharco-Schilling, Wharton County, Texas – Working Interest 10.0%
During Q4 2007, the Duson #1 well on the West Wharco-Schilling prospect was drilled to a total depth of 11,500 feet but did not encounter economic quantities of natural gas in the primary target zone. During Q1 2008, completion attempts in two secondary zones were also non-economic. The well is being abandoned during the second quarter.

Canadian Exploration and Development
During the first three months of 2008, Diaz participated in one significant workover, one new gas well and completed and brought on production one of its discovery wells from Q4 2007.

SOUTHEAST SASKATCHEWAN
Parkman Area – Diaz Working Interest 75%
During Q1 2008, Diaz conducted workover activities on the 9-9-8-33 W1 horizontal well with the objective of isolating oil production from a different section of the horizontal leg. Prior to the operation the well was averaging approximately 6-8 Bopd of light oil. After the successful workover the well has been producing 70 Bopd since early March 2008.

Diaz’s 75% working interest resulted from certain partners not participating in the latest completion operation. Diaz expects the penalty provisions of the joint venture will be satisfied by mid summer and at that time it’s working interest will revert to 37.5%.

Retlaw, Alberta
In Retlaw, Alberta, a new gas well was drilled and completed during the quarter. The well came on production in March 2008 and is currently producing at a flow rate of 1,000 Mcfd. Diaz has a 17% working interest in the well.

Diaz currently plans to drill three to five wells in the fall of 2008 as part of an infill program on the property. Diaz’s working interests in the infill wells range from 25% to 50%.

Winter 2007 Natural Gas Discovery’s
In October and December 2007, two of Diaz’s exploration wells encountered economic quantities of natural gas. The first well was completed in March 2008 and is currently producing 500 Mcfd. The second well will be completed and tied-in to a sales line during Q2 2008. Both of the wells have follow-up opportunities requiring additional land rights which Diaz is attempting to secure. Diaz has an 80% working interest in both projects.

[MWM]

http://www.diazresources.com/

[MWM]

Charts

[mhlld]

Diaz Announces Jaslan, Alberta Natural Gas Project Completed
Tuesday November 7, 6:06 pm ET

CALGARY, ALBERTA--(MARKET WIRE)--Nov 7, 2006 -- Diaz Resources Ltd. (TSX:DZR.TO - News) is pleased to report the Jaslan, Alberta natural gas project, which included installation of a compressor station and 10 kilometers of pipeline connecting five gas wells, has been completed and production commenced November 3, 2006.

The project, in which Diaz is the operator, will add an incremental 1 MMcfd (167 BOEd) net production to the Company.

Diaz has additional lands in the area and has plans for further drilling in 2007.

Diaz is an oil and gas exploration and development company based in Calgary, Alberta, with land holdings and production in Canada and the United States. The Company's current focus is on deep gas exploration in Texas and on shallow gas developments in southern Alberta and natural gas and oil exploration in central and southern Alberta.

Forward-looking statements - the press release today contains "forward-looking" information. Actual results could differ materially from the conclusions, forecasts or projections in the forward-looking information. Certain material factors and assumptions were applied in drawing the conclusions or making the forecasts or projections as reflected in the forward-looking information. Additional information about the material factors that could cause actual results to differ materially from the conclusion, forecast or projection in the forward-looking information and the material factors or assumptions that were applied in drawing the conclusion or making the forecast or projection as reflected in the forward-looking information is contained in the press release.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact:
Contacts:
Diaz Resources Ltd.
Donald K. Clark
Chief Operating Officer
[phone]
[phone] (FAX)

Diaz Resources Ltd.
Robert W. Lamond
Chairman
[phone]
[phone] (FAX)
Email: [e-mail]
Website: http://www.diazresources.com



--------------------------------------------------------------------------------
Source: Diaz Resources Ltd.

http://biz.yahoo.com/iw/061107/0181619.html

[mhlld]

New all time high today, nice. eom

[mhlld]

Diaz Announces Casing of the Hound Dog R. Dickson #2 Well, Lavaca County, Texas
Monday March 20, 11:38 am ET

CALGARY, Alberta--(BUSINESS WIRE)--March 20, 2006--Diaz Resources Ltd. (TSX:DZR - News) announces that the Hound Dog R. Dickson #2 well has reached total depth of 17,220 feet and is currently being cased. Diaz has a 25% working interest in the well.

Based on the Company's log analysis, the well has encountered multiple potential Wilcox gas zones and completion operations are anticipated to commence within 45 days. Diaz plans to construct production facilities prior to the commencement of the completion operations.

The Company has identified several additional future drilling locations within the Hound Dog field based on the positive results of the Hound Dog R. Dickson #2 well.

Diaz is an oil and gas exploration and production company based in Calgary, Alberta. Diaz's current focus is on shallow gas developments in southern Alberta, natural gas exploration in central and southern Alberta and deep gas exploration in Texas.

Forward-looking statements - the press release today contains "forward-looking" information. Actual results could differ materially from the conclusions, forecasts or projections in the forward-looking information. Certain material factors and assumptions were applied in drawing the conclusions or making the forecasts or projections as reflected in the forward-looking information. Additional information about the material factors that could cause actual results to differ materially from the conclusion, forecast or projection in the forward-looking information and the material factors or assumptions that were applied in drawing the conclusion or making the forecast or projection as reflected in the forward-looking information is contained in the press release.

The Toronto Stock Exchange has not reviewed and does not accept re sponsibility for the adequacy or accuracy of this release.

Diaz Resources Ltd. (TSX:DZR - News)



Contact:
DIAZ RESOURCES LTD.
Robert W. Lamond
Chairman
[phone]
Fax: [phone]
Website: www.diazresources.com
Email: [e-mail]
OR
DIAZ RESOURCES LTD.
Charles A. (Tony) Teare
Executive Vice President
[phone]
Fax: [phone]
Website: www.diazresources.com
Email: [e-mail]

--------------------------------------------------------------------------------
Source: Diaz Resources Ltd.

http://biz.yahoo.com/bw/060320/20060320005750.html?.v=1

[bigpike]

Bob and all, I don't think we have an Expedition board, but QIS did an update for EXDNF:

Expedition Energy Inc. (XPD:TSX-V)
Website: www.xpdenergy.com
Current Price: $0.65

Expedition Energy’s Board of Directors has approved a $10 million capital expenditure program for 2006, including the drilling of 15 wells. Approximately 25% of the 2006 capital expenditure program is currently expected to be expended on land and seismic with a view to securing opportunities for late 2006 and into 2007. Expedition's focus will continue to be the expansion of its land base in existing areas as well as the opening up of new prospect areas in north western Alberta. The 2006 capital expenditure program is expected to be funded from cash flow and debt, with debt not anticipated to exceed one year's cash flow.

The company has been successful at recent land sales in Alberta at Ferrier and Cessford and has purchased seismic to be used to evaluate its participation in upcoming land sales. Expedition is currently planning to drill three wells in the first quarter of 2006, subject to rig availability.

Expedition's recently completed gas wells at Ferrier and Cessford, Alberta await tie-in, which has been delayed somewhat due to availability of services. Completion operations are underway at two other wells in Erskine and Huxley, Alberta with tie-ins expected early in the second quarter of 2006.

QIS CAPITAL Comments:

Expedition continues to move forward while meeting announced expectations. Current production rates are anticipated to be announced in the next few weeks following the tie-in of wells at Ferrier and Cessford and once production stabilizes following some maintenance operations at Nevis. The company appears to be on-track to reach its production target of 700 boepd early in Q2 as there is presently about 200 boepd either behind pipe or awaiting completion. The only thing Expedition hasn’t been able to deliver on is commodity prices, which of course it has no control over. The company is currently trading around its last reported net asset value and is trading at just over 3 times cash flow - one of the lowest multiples in the industry. Current cash flow and proceeds from the latest financing should cover the CAPEX program without increasing debt significantly. Expedition plans to stay below one times debt to cash flow which is quite conservative in the current industry environment.

[mhlld]

Diaz Announces Significant Texas Gas Discovery and Updates U.S. Drilling Operations
Monday February 13, 1:17 pm ET


CALGARY, ALBERTA--(CCNMatthews - Feb. 13, 2006) - Diaz Resources Ltd. (TSX:DZR - News) is pleased to report the successful completion of two Allen Ranch wells, which were fracture stimulated late last week and tested over the weekend. Diaz has a 20% working interest in the two wells.
The Allen Ranch Hancock #2 well has been completed in one of eight potential Wilcox gas zones and is currently flowing to sales at a restricted rate of 5.0 MMcfd with a flowing pressure of 10,150 psi. These results greatly increase the development potential of the Allen Ranch field.

The Allen Ranch Hancock #1 well was completed in the fourth Wilcox gas zone and is currently flowing to sales at a restricted rate of 5.6 MMcfd with a flowing pressure of 7,825 psi. Following testing of this gas zone, production from all four Wilcox gas zones in this well will be commingled.

Production from the Allen Ranch field is being restricted to 10.6 MMcfd sales due to production facility constraints. The production facilities are currently being expanded to handle up to 15 MMcfd and the expansion should be completed within 4 to 6 weeks. Diaz will be increasing its 2006 development program for the Allen Ranch field to include the drilling of additional development wells and a further expansion of production facilities.

The Hound Dog R. Dickson #2 well, in which Diaz has a 25% working interest, is currently drilling at a depth of 14,800 feet. The well is targeting multiple Wilcox gas zones and is expected to reach the total depth of 17,000 feet by March 1, 2006. The well has encountered multiple gas shows based on samples and mud log results. Drilling results to date are consistent with the geological prognosis for the well.

Diaz is an oil and gas exploration and production company based in Calgary, Alberta. Diaz's current focus is on shallow gas developments in southern Alberta, natural gas exploration in central and southern Alberta and deep gas exploration in Texas.

Forward-looking statements - statements included in this press release that are not historical facts may be considered "forward-looking statements." All estimates and statements that describe the Company's objectives, goals or future plans are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties where actual results could differ materially from those currently anticipated.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.



Contact:
Robert W. Lamond
Diaz Resources Ltd.
Chairman
[phone]
[phone] (FAX)

Charles A. (Tony) Teare
Diaz Resources Ltd.
Executive Vice President
[phone]
[phone] (FAX)
Email: [e-mail]
Website: www.diazresources.com


--------------------------------------------------------------------------------
Source: Diaz Resources Ltd.

http://biz.yahoo.com/ccn/060213/200602130310549001.html?.v=1

[Bobwins]

nuts ... most of my money is on Sharon but also holding some Diaz. Will wait for results in Jan/Feb. Could be a nice pop for both if this is the big one they have been anticipating. Deeper zones are the key. If they hit the deeper zones, they could have a much larger well than the 7000mcfpd currently being produced from Hancock#1.

Bobwins

[nutsaboutgolf2001]

Bobwins, sold out my position today after the nice runup of the last few days. Am obviously a little nervous on the natural gas front (warm weather) but am holding all other Canadian positions (RGY,SAW,XPD,CZE).

[mhlld]

Diaz Announces the Successful Drilling of the Allen Ranch Hancock #2 Well Colorado County, Texas
Wednesday December 28, 9:00 am ET

CALGARY, ALBERTA--(CCNMatthews - Dec. 28, 2005) - Diaz Resources Ltd. (TSX:DZR - News) is pleased to announce that the Hancock #2 well, on the Allen Ranch Prospect, has been drilled to 17,072 feet and is presently being prepared to run production casing. Diaz holds a 20% interest in this well.

The well encountered the same Wilcox gas zones currently being produced in the Allen Ranch Hancock #1 well. In addition, the well logged a number of potentially productive gas zones both shallower and deeper than the current field development zones. All of these zones have been evaluated using a full suite of electric logs. Further details on this well are being held confidential at this time.

Diaz anticipates that completion operations on this well will commence during the first quarter of 2006.

Diaz is an oil and gas exploration and production company based in Calgary, Alberta. Diaz's current focus is on shallow gas developments in southern Alberta, natural gas exploration in central and southern Alberta and deep gas exploration in Texas.

Forward-looking statements - statements included in this press release that are not historical facts may be considered "forward-looking statements." All estimates and statements that describe the Company's objectives, goals or future plans are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties where actual results could differ materially from those currently anticipated.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.



Contact:
Robert W. Lamond
Diaz Resources Ltd.
Chairman
[phone]
[phone] (FAX)

Charles A. (Tony) Teare
Diaz Resources Ltd.
Executive Vice President
[phone]
[phone] (FAX)
Email: [e-mail]
Website: www.diazresources.com


--------------------------------------------------------------------------------
Source: Diaz Resources Ltd.


http://biz.yahoo.com/ccn/051228/200512280303820001.html?.v=1

[nutsaboutgolf2001]

I redid my numbers today - given a 1st quarter 06 rate of 2000 BOE/day (company's forecast) and keeping in mind that their Canadian natural gas sales fetched $7.74 per mmmcfd in the third quarter and that they have already locked in a price of $10.71 for 5 months through March for about 20 % of their production. Basically I extrapolated 3rd quarter cash flow per share to first quarter 06 based on the higher production and then added about a dollar (an after tax after royalty amount) per BOE for the 2000 BOE to give me the 1st quarter cash flow per share estimate. It's very crude and my numbers are bound to be wrong but often one error offsets another. Anyway I came up with 13 cents per share. At $1.00, Diaz is selling for less than 2 times it's annualized cash flow. As I might add are RGY.V and XPD.V. Too hard to do same calculation for CZE.V

[Bobwins]

Big spike in price and volume today. Almost a million shares traded and stock is +.09 to US$.80. No trading or reaction in SHY so maybe Diaz has just come up on somebody's radar screen as undervalued. If it was good news on Hancock #2 in texas, Shy should be spiking also. Diaz is still undervalued so holding for improved results in q4 and beyond. Bobwins

[Bobwins]

I hate these reports that don't list qtrly results. Looks like cashflow for q3 was .05 and eps was .02, both improvements. Also looks like they are reducing guidance. Originally were talking about exiting 2005 at 2000boepd, now saying 1600 with 2000 by q1. This may be related to the delays in pipeline hookups and also could be delays in ability to get equipment due to the drilling boom.

I also think that Harmattan hasn't worked out quite as well as the company anticipated. Maybe the Harmattan wells are part of the 500bpd behind the pipe. I don't know but they aren't crowing about it like they were when the well first came online.

Texas appears to be the growth vehicle. The current well at Hancock and Hound Dog #2 could have a big impact on 2006 results. Diaz still is cheap at 4 times forward cashflow but things are moving a tad slower than I expected. Bobwins

[CrocHntr]

Diaz Reports Improved Financial Results for First Nine Months of 2005 and Updates Strategic Review Process and Texas Exploration
Monday November 14, 9:00 am ET

CALGARY, ALBERTA--(CCNMatthews - Nov. 14, 2005) - Diaz Resources Ltd. (TSX:DZR - News) today reported that financial and operating results for the nine months ended September 30, 2005 were improved over the same period in 2004, primarily due to higher commodity prices. However, exploration and development successes throughout the year, primarily in the Company's natural gas properties in Texas, have set the stage for significant production and cash flow growth in the fourth quarter of 2005.

ADVERTISEMENT
Strategic Review Process

Diaz advises that due to the Company's recent successes in its U.S. exploration program, together with high commodity prices, the Board of Directors has terminated the formal strategic review process relating to the sale of assets, or the Company, at this time. Although Diaz continues to explore all avenues relative to increasing shareholder value, the focus for the near future will be to increase its U.S. exploration and drilling activities.

Texas Exploration

During the third quarter, Diaz increased its interest in the Hound Dog property from 5.6% to 28.1%. The initial well in the property is currently producing at a rate of 4.0 MMcfd.

The initial well on the Allen Ranch property was completed in the third sand during the third quarter and is currently producing at a rate of 5.8 MMcfd.

A second well on the Allen Ranch property commenced drilling in October and is currently drilling at 13,300 feet. The well is planned to be drilled to a target depth of 16,800 feet and will test a deeper Wilcox sand identified on stream and is the fourth shallow sand encountered in the initial well. The well should reach total depth in December 2005.

Financial

Revenue for the nine months ended September 30, 2005 totaled $12.3 million compared with $10.6 million one year earlier.

Cash flow for the period increased by 17% to $7.9 million, or $0.13 per share compared with $6.7 million, or $0.12 per share in 2004. The rapid growth in U.S. production revenue resulted in Diaz's cash flow being reduced by $575,000 of current taxes payable. The Company plans to rapidly increase its U.S. capital budget, which will defer some of the current taxes payable.

Diaz reported earnings for the nine months ended September 30, 2005 of $2.3 million, or $0.04 per share compared with $1.0 million, or $0.02 per share reported in 2004.

Capital expenditures for the nine months ended September 30, 2005 totaled $7.0 million compared with $7.6 million in 2004 and were wholly financed from cash flow. Diaz completed the third quarter of 2005 with net debt of $7.6 million and debt repayability, annualized, from cash flow from operations was approximately 0.7 times.

Operating

Natural gas production for the nine months ended September 30, 2005 averaged 6.0 MMcfd compared with 6.3 MMcfd for the same period in 2004. Oil production averaged 165 Bopd for the period compared with 105 Bopd in 2004 and total production averaged 1,161 BOEd in 2005 compared with 1,062 BOEd for the same period in 2004.

Production growth in Canada was impacted by the premature decline of one of the Company's wells in the Enchant area. The Company's plans to increase production were further impacted by wet conditions, which delayed drilling, pipelining and completion operations.

At September 30, 2005, Diaz had over 500 BOEd, temporarily restricted or behind pipe, 270 BOEd of which was placed on stream in October 2005. However, based on identified reserves currently behind pipe, which the Company plans to connect in Q4 2005 and Q1 2006, Diaz believes that it will exit the year at 1,600 BOEd and be producing at over 2,000 BOEd in Q1 2006.

[DigiTech]

Here is a repost from VMC

I just realized that DIAZ had its own Board on IHUB. Readers may find my post interesting.


DZG estimates for 2006.

Bobwins, Do you have any comments about the numbers I got from DZG (post 24735). Does it match your estimates?

I tried to use my calculator to estimate 2006 and the numbers scare me (in a good way)
Could you check if I am wrong before I spend a lot of money in the morning.

Also could you please give me your comments about the idea of spliting the company. By the way I forgot to mention that they intend to do that in the next 3 month.


Run rate Jan 1st 2006 2000 EBOD (per DIAZ estimate)

Gas is 87% of production (extrapolate from 1st half of 2005)

Gas price $C 12.00 (average US and hedged Canadian production)

Gas revenue Q1 2006 10440*12$*92days= $11.5M
Oil revenue Q1 2006 260*60$*92days= $1.4M

Total Q1 $12.9M



Assuming per my discussion with them today an increase 4MMcfd average per quarter and a flat gas pricing of $c12 (could be better with Texas unhedged)
Assume no increase in oil production and $c60 per B



Gas revenue Q2 2006 14440*12$*92days= $15.9M
Oil revenue Q2 2006 260*60$*92days= $1.4M

Total Q2 $17.3M

Gas revenue Q3 2006 18440*12$*92days= $20.3M
Oil revenue Q3 2006 260*60$*92days= $1.4M

Total Q3 $21.7

Gas revenue Q4 2006 22440*12$*92days= $24.8M
Oil revenue Q4 2006 260*60$*92days= $1.4M

Total Q4 $26.2

Total 2006 $c78.1M !!!!!!

If I take 2004 as business model. The revenue is 4.4 times so earning would be $c6.8M. I added 3.45M because their SG&A would only double on 4.4 X the revenue (IMO)

Total earning $c 10.25M

Shares after the buyback 59m
EPS 17c for 2006

PE of 10 $1.77 per share
PE of 20 $3.54 per share

If you run rate Q4 for 2007 it gets really good


BG

[CrocHntr]

Diaz News - Additional working interest in producing gas well...

Diaz Increases Interest in Hound Dog Prospect, Lavaca County, Texas and Updates U.S. Production
Wednesday October 5, 9:34 am ET

CALGARY, ALBERTA--(CCNMatthews - Oct. 5, 2005) - Diaz Resources Ltd. (TSX:DZR - News) announces that it has completed the purchase of an additional 5.625% working interest in the Hound Dog Dickson #1 well and adjacent lands, increasing Diaz's working interest to 28.125%.

ADVERTISEMENT
The Dickson Hound Dog #1 well is currently producing 3.8 MMcfd from the Wilcox #8 gas zone. Three other Wilcox gas zones, up hole in the well, have yet to be completed.

In addition, plans are underway to drill a second well on the Hound Dog prospect in the first quarter of 2006. The well will be drilled to a depth of 16,700 feet targeting multiple Wilcox gas zones.

With this purchase Diaz's working interest in current gas production in the U.S. increased to approximately 3.7 MMcfd or 617 BOEd.

Diaz is an oil and gas exploration and production company based in Calgary, Alberta. Diaz's current focus is on shallow gas developments in southern Alberta, natural gas exploration in central and southern Alberta and deep gas exploration in Texas.

Forward-looking statements - statements included in this press release that are not historical facts may be considered "forward-looking statements." All estimates and statements that describe the Company's objectives, goals or future plans are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties where actual results could differ materially from those currently anticipated.

[Bobwins]

divide thousand cubic feet per day(mcfpd) by 6. So 1000mcfpd = 167boepd

2millioncfpd well = 2,000mcfpd/6= 333boepd.

Bobwins

[mhlld]

Thanks Bob, looks like we could have a strong year end finish if the the other well comes in. By the way, what is the exact conversion of gas mcf to boed? TIA

[Bobwins]

mhlld...can't remember what they guided for but this well will probably produce at 2500-3700mcfpd. Their share on this well will be 500boepd-740boepd. And they're drilling another on 10/15/05. Bobwins

[mhlld]

Great news today, maybe Diaz will meet it's projected production exit rate for 2005 after all...

[Bobwins]

Diaz Announces Completion Results from Allen Ranch Hancock #1 Well, and New Well Location, Colorado County, Texas

CALGARY, ALBERTA, Oct 3, 2005 (CCNMatthews via COMTEX) --
Diaz Resources Ltd. (TSX:DZR) announces that it has recently completed the third Wilcox gas zone in its Allen Ranch Hancock #1 well and that the zone is producing 5.6 MMCFD at 7,680 psi, to sales. Diaz has a 20% working interest in this well.

Following an extended production test of this zone, a fourth Wilcox gas zone will be completed and tested. The plan is then to commingle all four zones.

Additionally, the construction of the location for the Allen Ranch Hancock #2 well is almost complete with the drilling rig scheduled to arrive by October 15, 2005.

Mr. Robert Lamond, President of Diaz said, "We are very pleased with the results from the Allen Ranch prospect which represents the fourth productive structure in its deep Wilcox drilling program. In addition, the Allen Ranch Hancock #2 well is very exciting as it is a combination of development and exploration. The well is being drilled to 16,800 feet which will target the upper four Wilcox gas zones, currently productive in the #1 well, and will also be drilled to penetrate a deeper Wilcox gas structure identified from 3D seismic."

Diaz is an oil and gas exploration and production company based in Calgary, Alberta. Diaz's current focus is on shallow gas developments in southern Alberta, natural gas exploration in central and southern Alberta and deep gas exploration in Texas.

Forward-looking statements - statements included in this press release that are not historical facts may be considered "forward-looking statements." All estimates and statements that describe the Company's objectives, goals or future plans are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties where actual results could differ materially from those currently anticipated.

SOURCE: Diaz Resources Ltd.

Diaz Resources Ltd. Robert W. Lamond Chairman [phone] [phone] (FAX) Diaz Resources Ltd. Charles A. (Tony) Teare Executive Vice President [phone] [phone] (FAX) Email: [e-mail] Website: www.diazresources.com

[Bobwins]

Hopefully it means they are drilling and increasing production and revenues. Was disappointed in last qtr. Bobwins

[mhlld]

Volume increasing the last 10 days or so, hopefully it's the volume that precedes a price move.

[Bobwins]

news... Diaz averaged 1121boepd for q1. q2 probably won't average 1450 but if it did, that would be a 29% increase from q1. We'll have to wait and see how long each of the new wells flowed to get the new average for q2. Should be a nice pop for topline revs and put Diaz on a good path to hit their target exit rate of 2000boepd for 2005. Bobwins




Diaz Resources raises output to 1,450 BOE a day, holds 22.5% of new Texas gas discovery

6/21/05 10:00:00 AM
CALGARY (CP) - Junior energy company Diaz Resources Ltd. has raised its daily output to 1,450 barrels of oil equivalent production as the company benefits from recent natural gas expansions in Texas.

Diaz said Tuesday its 22.5-per-cent owned Dickson 1 well in Lavaca County Texas was flowing to market at 4.2 million cubic feet a day. In addition, Diaz's Hancock 1 well in Colorado County, Texas is steadily producing at 3.4 million cubic feet.

Diaz holds a 20 per cent working interest in this well.

With the addition of the two wells, Diaz said its daily production has hit 7.2 million cubic feet of gas and 250 barrels of oil, a combined 1,450 barrels of oil equivalent output.

Diaz (TSX:DZR) is an oil and gas company focused on shallow gas in southern Alberta, natural gas exploration in central and southern Alberta and deep gas exploration in Texas.

[mhlld]

Diaz Confirms Interest in New Texas Gas Discovery, Increases Production to 1,450 BOEd
Tuesday June 21, 9:02 am ET


CALGARY, ALBERTA--(CCNMatthews - June 21, 2005) - Diaz Resources Ltd. (TSX:DZR - News) today announced that its Dickson #1 well on the Hound Dog prospect, Lavaca County, Texas was flowing to market at 4.2 MMcfd with a flowing tubing pressure of 2,075 psi. The well, in which Diaz holds a 22.5% working interest, is still flowing to clean-up following a fracture treatment.



Diaz also reported that its Hancock #1 well on the Allen Ranch prospect, Colorado County, Texas is steadily producing at 3.4 MMcfd. Diaz holds a 20% working interest in this well.

With the addition of the above captioned wells, Diaz production has now reached 7.2 MMcfd and 250 Bopd, to total a combined 1,450 BOEd.

Diaz is an oil and gas exploration and production company based in Calgary, Alberta. Diaz's current focus is on shallow gas developments in southern Alberta, natural gas exploration in central and southern Alberta and deep gas exploration in Texas.

Forward-looking statements - statements included in this press release that are not historical facts may be considered "forward-looking statements." All estimates and statements that describe the Company's objectives, goals or future plans are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties where actual results could differ materially from those currently anticipated.


--------------------------------------------------------------------------------
Contact:

Diaz Resources Ltd.
Robert W. Lamond
Chairman
[phone]
Fax: [phone]
OR
Diaz Resources Ltd.
Charles A. (Tony) Teare
Executive Vice President
[phone]
Fax: [phone]
Email: [e-mail]
Website: www.diazresources.com

http://biz.yahoo.com/ccn/050621/306317f32ca1889a85fd0ffad1a4f7f9.html?.v=1

[mhlld]

Symbol change, DZR.TO (Canadian)and DZRFF.PK (USA).

[mhlld]

The third Harmattan well is completed and awaiting flow testing.
Read the Rally Energy news release that follows. I believe this third well is also 40% Diaz's, 10% Sharon Energy, and 50% Rally Energy.



CALGARY, ALBERTA--(CCNMatthews - June 13, 2005) - Rally Energy Corp. (TSX VENTURE:RAL - News; FWB:RLE) is pleased to confirm that, effective immediately, Good Production Practice status has been granted for the Harmattan discovery well. This well, drilled late in 2004, encountered 21 feet of oil pay in the Glauconite formation and production tested at an average gross flow rate of over 600 bbls/d of oil and 980 mcf/d of gas. With the granting of GPP status, this well is being placed on production at an initial rate of approximately 400 bbls/d of oil and 900 mcf/d of gas. Rally Energy holds a 50% non-operated interest in this well.

Rally Energy's third Harmattan well, located approximately 1.6 kilometres east of the first discovery well, has been drilled to target depth and has been cased. Completion and testing activities will commence once wet field conditions improve.


--------------------------------------------------------------------------------
Contact:

Rally Energy Corp.
Lamont Tolley
http://biz.yahoo.com/ccn/050613/a4f02ed07e53cfe737f14c87a6ea6ef0.html?.v=1

[mhlld]

Diaz Confirms Harmattan Oil Discovery and Announces Change in Capital Structure
Friday June 10, 1:05 pm ET


CALGARY, ALBERTA--(CCNMatthews - June 10, 2005) - Diaz Resources Ltd. (TSX:DZR.SV.A - News; TSX:DZR.MV.B - News) confirmed today that it had encountered 21 feet of oil pay in the Glauconite formation at its previously announced Harmattan discovery. The well tested at over 650 Bopd and 980 Mcfd and has since been granted Good Production Practice. This will allow Diaz to increase the production rate to approximately 400 Bopd and 900 Mcfd, effective immediately.



Diaz, operator of the well, holds a 40% working interest in the Harmattan well with partners Rally Energy Corporation - 50% and Sharon Energy Ltd. - 10%.

Diaz confirms that at its Annual and Special Meeting on June 9, 2005, the Shareholders approved a resolution to amend the articles of the Corporation to change the issued and outstanding Subordinate Voting Shares and Multiple Voting Shares into Common Shares on a one-for-one basis. The amended articles to reflect the change have been filed and the Common Shares have been conditionally approved for listing on the Toronto Stock Exchange. Upon receipt of final approval, Diaz anticipates the shares will trade as Common Shares under the symbol: DZR at mid-next week, at which time the Subordinate Voting Shares and Multiple Voting Shares will no longer trade.

Diaz also announces that Robert L. McPherson, President of KVR Resources Ltd. and John G.F. McLeod, President of Onco Petroleum Inc. have been appointed to the Company's Board of Directors.

Finally, the Corporation's Board of Directors approved a capital budget of $12.6 million for 2005.

A copy of the Corporation's Annual and Special Meeting presentation may be viewed at www.diazresources.com.

Diaz is an oil and gas exploration and production company based in Calgary, Alberta. Diaz's current focus is on shallow gas developments in southern Alberta, natural gas exploration in central and southern Alberta and deep gas exploration in Texas.

Forward-looking statements - statements included in this press release that are not historical facts may be considered "forward-looking statements." All estimates and statements that describe the Company's objectives, goals or future plans are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties where actual results could differ materially from those currently anticipated.


--------------------------------------------------------------------------------
Contact:

Diaz Resources Ltd.
Robert W. Lamond
Chairman
[phone]
Fax: [phone]
OR
Diaz Resources Ltd.
Charles A. (Tony) Teare
Executive Vice President
[phone]
Fax: [phone]
Email: [e-mail]
Website: www.diazresources.com

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.



--------------------------------------------------------------------------------
Source: Diaz Resources Ltd.


http://biz.yahoo.com/ccn/050610/662f609daf546353ae5d671b59f9da6a.html?.v=1

[mhlld]

Good 1st qtr., 2nd qtr. going to be much better.

http://www.stockwatch.com/nocomp/newsit/newsit_sedardoc.aspx?docid=847105

"be patient while it loads"

[Bobwins]

CrocHntr re mgmt. Well the good thing about Diaz that is a good sign is that they are already cashflow and profit positive. So compared to Egsr.ob, they have already progressed a long ways. Also they have substantial production at 1400-1500bpd that is going to generate good numbers. I also like the split US/Canadian production. Doesn't make them as attractive for Trust Fund acquisition down the road but still like the geographic diversity.

I haven't called mgmt yet. I need to contact several of my little Canadian juniors so it's on the list. The thing about Diaz is that they are going to be moving up the food chain pretty quick. If those three Harmattan wells during the next 90 days hit, we could have a tiger by the tail. Let's hope. Bobwins

[CrocHntr]

Thanks for setting up the board, Bobwins. I'm still trying to nibble a bit at .70 (Canadian), but haven't had much success yet today. I'm hoping that this new Harmattan well (once it starts flowing at full capacity) will be a large revenue generator for Diaz. It sounds like a solid hit.

I'm not sure what it will take to get the stock noticed, but a couple of quarters of increased eps, cash flow, and production should trigger some interest. Diaz seems lined up to have a banner year.

Have you formed any opinions of management yet? I've read some posts at Stockhouse and they seem to be a bit mixed on the operations side, but it's hard to question an increased cash flow and production. I'm not so great at calling and extracting info. out of management or IR, so I haven't dealt with Diaz at all on the personal front. Have you tried at all? I just don't want to see Diaz turn into another Energas simply because of inept management. This doesn't seem likely, but you never know what you're going to get sometimes.

-Croc

[Bobwins]

Diaz Resources Ltd is a Canadian Junior with bright prospects for 2005. Appears very undervalued from several viewpoints. Recent discoveries in Canada and Texas should boost 2005 avg production above company estimates of 1500boepd. Bobwins