Sharon Energy (fka sheyf)

[tr8dervic]

Sharon Energy Ltd. Announces Q2 2008 Results
Monday November 19, 1:27 pm ET


CALGARY, ALBERTA--(MARKET WIRE)--Nov 19, 2007 -- Sharon Energy Ltd. (CDNX:SHY.V - News)
Sharon's financial and operating results for the first six months of the 2008 fiscal year ended September 30, 2007, were lower than the same reporting period of the prior year, due to reduced production volumes offset partially by higher gas prices.

Sharon, as operator, is pleased to report that it has contracted a rig and plans to begin drilling the Wharco-Schilling well during the next couple of weeks. Also, in January 2008 Sharon plans to begin drilling the N.W. Speaks well. Both of these wells had been delayed due to extremely wet conditions caused by record levels of rainfall in the south-west Texas area.

As a result of greater availability of rigs in the United States, Sharon believes it is able to operate the bulk of its future exploration projects. As operator, Sharon can control the timing and costs involved. A good example of this is the recently completed Black Owl project which was drilled, completed and placed on production in 67 days.

Financial

Sharon reported revenue for the six month period ended September 30, 2007, of $1.4 million compared with $1.7 million in the prior year period and cash flow for the six month period was $520,000 compared with $1.2 million for the same period in 2006. Sharon reported a loss for the six month period ended September 30, 2007, of $485,000 or $(0.01) per share versus earnings of $11,000 or nil per share for the same period in 2006.

Capital spending for the six month period ended September 30, 2007, totaled $3.0 million compared with $2.3 million for the same period in 2006. Capital spending was financed from cash flow, capital dispositions and a $9 million equity financing completed in June 2007.

Sharon exited the second quarter with working capital of $2.5 million versus net debt of $2.6 million at the beginning of the fiscal year.

Production

Production for the three month period ended September 30, 2007, declined to average 202 BOEd compared with 312 BOEd for the prior year. For the six month period production declined to 232 BOEd compared to 334 BOEd for the prior year period. The Hancock #2 well located on the Allen Ranch property in Texas was shut-in during the first and second quarters causing most of the production decline.

United States

In the first six months of the 2008 fiscal year Sharon's focus has been on developing the Cheney and Black Owl prospects. Black Owl came on line in November 2007, while at Cheney the well is anticipated to be fully tested in early 2008.

Cheney, Colorado County, Texas - Working Interest 14%

On July 10, 2007, drilling reached a total depth of 18,400 feet after which the well was cased. Based on the Company's log analysis, the well has encountered 40 feet of gross pay and 30 feet of potential net gas pay, in the Wilcox #18 zone, which was the primary target horizon in the well.

Completion operations, which had been hampered by weather and a change of the operator of the well, are now expected to be carried out in early 2008 with a fracture stimulation and production test of the zone.

Black Owl, Wharton County, Texas - Working Interest 24.4%

In the second quarter, Sharon as operator, drilled the Black Owl #1 well to a depth of 8,775 feet. The well encountered 18 feet of pay in the Yegua zone and was completed and flow tested at a rate of 1,300 Mcfd at 5,600 psi.

The well has been connected to a sales pipeline and production started in November 2007.

West Wharco-Schilling, Wharton County Texas - Working Interest 28.44% (at casing point)

Sharon Energy Ltd. will be the operator for the Duson #1 well. This prospect has seven potential objectives of which three have been proven productive by offset operators. Sharon's Duson #1 well, which is planned to be spud in November 2007, has a proposed depth of 11,450 feet.

N.W. Speaks, Lavaca County, Texas - Working Interest 35.8%

Sharon will be the operator of the N.W. Speaks Robertson #1 well, located in Lavaca County, Texas. Sharon plans to spud this well in early 2008.

Canada

During the first six months of the 2008 fiscal year Sharon participated in drilling and/or re-entering two wells (0.40 net) resulting in one oil well (0.25 net) and one dry hole (0.15 net). In the second half of fiscal year, Sharon plans to participate in the drilling of several wells including a Sawtooth oil test in the Hays area.

Business Outlook

Sharon anticipates that North America natural gas prices will continue to recover which should result in an improvement in the Company's financials. The weakening US dollar during the first half of the fiscal year had a negative $297,000 affect on Sharon's consolidated earnings which are denominated in U.S. currency resulting from the settling of Canadian denominated debt. However, if currency valuations maintain their current levels Sharon anticipates that this trend will reverse in the second half of the fiscal year as Canadian net assets and revenues are consolidated into Sharon's statements at increasingly favourable exchange rates.

Highlights for the second half of fiscal year 2008 will include production additions in both Canada and the U.S. and the drilling of several exploration oil and gas wells in Canada and three gas wells in the U.S.



Six Months Ended
(Thousands, except per share amounts) September 30,
-------------------------------
(U.S. Dollars, unaudited) 2007 2006
----------------------------------------------------------------------------
Financial
Total revenue $ 1,369 $ 1,720
Cash flow from operations $ 520 $ 1,154
per share, basic and diluted $ 0.01 $ 0.02
Earnings (loss) for the period $ (485) $ 11
per share, basic and diluted $ (0.01) $ -
Property, plant and equipment
Capital additions $ 3,030 $ 2,308
Dispositions $ (119) $ (23)
Working capital/(net debt) $ 2,541 $ (2,806)
Total assets $ 18,277 $ 13,216
Total shares outstanding, at period end 75,419 51,419

Operations
Production
Gas (MMcfd) 1.3 1.8
Oil (Bopd) 23 34
BOEd (6Mcf = 1Bbl) 232 334
Product Prices
Gas ($/Mcf) $ 6.66 $ 6.01
Oil ($/Bbl) $ 62.05 $ 63.31
----------------------------------------------------------------------------
BOE Presentation - the term barrels of oil equivalent (BOE) may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 Mcf: 1Bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. All BOE conversions in this report are derived by converting gas to oil in the ratio of six Mcf of gas to one Bbl of oil.

Financial Reporting - all numbers are reported in U.S. dollars.

Sharon is an oil and gas exploration and production company based in Calgary, Alberta. Sharon'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.

ADVISORY: Certain information regarding the Company in this News Release including management's assessment of future plans and operations, the use of proceeds from the offering and the anticipated closing date of the offering, may constitute forward-looking statements under applicable securities laws and necessarily involve risks including, without limitation, risks associated with oil and gas exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other producers, inability to retain drilling rigs and other services, capital expenditure costs, including drilling, completion and facilities costs, unexpected decline rates in wells, wells not performing as expected, incorrect assessment of the value of acquisitions, failure to realize the anticipated benefits of acquisitions, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements. Readers are cautioned that the foregoing list of factors is not exhausted. Additional information on these and other factors that could effect the Company's operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com) and at the Company's website (www.sharonenergy.com). Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.



The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.



Contact:
Contacts:
Sharon Energy Ltd.
H.C. (Kip) Ferguson, III
President
[phone]
[phone] (FAX)

Sharon Energy Ltd.
Robert W. Lamond
Chairman
[phone]
[phone] (FAX)
Website: http://www.sharonenergy.com



--------------------------------------------------------------------------------
Source: Sharon Energy Ltd.

[tr8dervic]

Sharon Reports Initial Gas Production at Black Owl in Wharton County, Texas
Tuesday November 13, 1:44 pm ET


CALGARY, ALBERTA--(MARKET WIRE)--Nov 13, 2007 -- Sharon (CDNX:SHY.V - News) today reported that the Black Owl #1 well located in Wharton County, Texas, has been connected to a nearby natural gas pipeline and began initial production on November 6, 2007. The well is currently flowing at a rate of 1.0 MMcf/d of natural gas and 12 bbls/d of condensate, at 5600 psi. Sharon plans to gradually increase the flow rate of the well to 1.3 MMcf/d over the next few weeks. Sharon is the operator and has a 24.4% working interest in the well.Sharon as the operator, plans to commence the drilling of the initial well on the West Wharco-Schilling prospect before the end of November 2007. Sharon will pay 21.25% of the cost to drill the well and will own a 28.44% working interest at casing point. As additional consideration, for farming-out its interest in the prospect, Sharon will also receive $105,000 USD from the other participating partners.

Sharon is an oil and gas exploration and production company with offices in Houston, Texas and in Calgary, Alberta. Sharon's focus is on its operations on the development of its Wilcox properties and the expansion of the Company into new opportunities within Texas.

ADVISORY: Certain information regarding the Company in this News Release including management's assessment of future plans and operations, the use of proceeds from the offering and the anticipated closing date of the offering, may constitute forward-looking statements under applicable securities laws and necessarily involve risks including, without limitation, risks associated with oil and gas exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other producers, inability to retain drilling rigs and other services, capital expenditure costs, including drilling, completion and facilities costs, unexpected decline rates in wells, wells not performing as expected, incorrect assessment of the value of acquisitions, failure to realize the anticipated benefits of acquisitions, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements. Readers are cautioned that the foregoing list of factors is not exhausted. Additional information on these and other factors that could effect the Company's operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com) and at the Company's website (www.sharonenergy.com). Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.



The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.



Contact:
Contacts:
Sharon Energy Ltd. - Houston, Texas
H. C. Kip Ferguson, III
President
[phone]
[phone] (FAX)

Sharon Energy Ltd. - Calgary, Alberta
Robert W. Lamond
Chairman
[phone]
[phone] (FAX)
Website: http://www.sharonenergy.com



--------------------------------------------------------------------------------
Source: Sharon Energy Ltd.

[amarksp]

Looks like SHY trying to pick up shares below $.30, thus SHY taking advantage of the tax loss selling

BID Orders Volume Price Range
......5.... 535,000... 0.030-0.295
ASK Price Range Volume Orders
......0.320-0.400... 239,000... 11

From yesterday and today, Research Capital appears to be doing most of the large buys...

Time Price Shares $ Change Buyer Seller
10:17 0.295 10,000 -0.005 Research Cap. Canaccord
10:05 0.295 92,000 -0.005 Research Cap. E*TRADE Sec.
10:05 0.295 5,000 -0.005 TD Securities E*TRADE Sec.
10:05 0.300 3,000 +0.000 RBC E*TRADE Sec.
09:59 0.300 24,000 +0.000 Research Cap. E*TRADE Sec.
09:59 0.300 26,000 +0.000 Research Cap. E*TRADE Sec.
09:59 0.300 2,000 +0.000 TD Securities E*TRADE Sec.
09:59 0.300 48,000 +0.000 Research Cap. E*TRADE Sec.
09:55 0.300 20,000 +0.000 Research Cap. E*TRADE Sec.

[Bobwins]

probably a catch 22. They can probably see into 2008 that they need a financing to fund their drill program. If they have to issue at .25, there will be a lot of dilution.

Diaz is well funded so they can afford to help Sharon out here and are probably hoping they don't have to spend that much to get the stock back to life. Maybe the funding is coming before the new wells will help the share price so they need this mechanism to prop up the price before the cashflow comes in.

It's a plus for holders. We'll see if they are successful in boosting the price. Sharon has potential but isn't a bargain based on cashflow or profits. Anyone paying up is going after the well inventory. Bobwins

[IDRILL4GASOIL]

I guess the they see it as a good place to put money? they see the stock as better place then in the ground? Seems strange with their production problems.

[amarksp]

Recent production drop has been caused by Allen Ranch well being shut in. I estimate "normal" Allen Ranch production should be over 500 MCF/d each quarter (i.e. substantially more than 257 MCF/d reported last quarter) for the next several years.

[Bobwins]

Very graphic explanation of what's gone wrong with Sharon. Production in Texas peaked in 12/05. Company didn't drill in 2006 due to poor prices for gas and high prices for drilling costs. Their desire to step up drilling activity have been delayed by the unusually wet Texas weather.

Looking forward to the next several months. West Wharco and NW Speaks are crucial to a Sharon comeback. Bobwins

[amarksp]

SHY production
http://www.drivehq.com/file/df.aspx/publish/amarksp/PublicFolder/shyproduction.jpg

SHY reserves
http://www.drivehq.com/file/df.aspx/publish/amarksp/PublicFolder/SHYreserves.jpg

[IDRILL4GASOIL]

Sorry should be wouldn't

[Bobwins]

They couldn't get into NW Speaks because of the wet weather. So they went to a well in their inventory where the drill site was dry enough to build a platform and get the equipment in and out. NW Speaks is still there but got pushed down the list. The wet weather has really slowed down Sharon's ambitious 2007 plans. Lousy gas prices probably means that it's just as well that they save the big wells for better pricing environments.

The next well is another relatively shallow 11-13,000 ft well. Sharon is trying to minimize drilling time and costs while maximizing opportunities. They will drill these shallower wells in locations where there may be deeper zones. They can always come back and drill one deep well to tap the lower zones instead of drilling every well to full depth. This will save millions in drilling costs while still providing for eventual drainage of the zone.

Let's see if the shorter drilling time gets us quicker results on West Warco-Shilling. Bobwins

[IDRILL4GASOIL]

Also don't think they would try to Frac the Cheney well if they don't see the sand and the log points to the pay.

[IDRILL4GASOIL]

So this well was a replacement for Specks?

[Bobwins]

NW Speaks got delayed due to the wet weather. Hopefully NW Speaks will get on the drilling schedule late 07 or early 08. West Warco is a shallower well so maybe the results will come quicker. Bobwins

[IDRILL4GASOIL]

Very good news, still moving in the right direction. Winter may help.

[Bobwins]

Still hitting 100% in Texas. Smaller well but should help offset production declines. Probably 30boepd net to Shy.v.

News on Cheney is way overdue. Let's hope it was worth the wait. Warco Shilling will be good because Sharon will be the operator and calling the shots. Hopefully the initial well hits and Sharon can drill development wells nearby.

Bobwins

Tuesday October 2, 1:02 pm ET


CALGARY, ALBERTA--(MARKET WIRE)--Oct 2, 2007 -- Sharon (CDNX:SHY.V - News) today reported that the Black Owl, Halamicek #1 well located in Wharton County, Texas has been successfully completed in the Yegua formation. The well flowed at a rate of 1.3 MMcf/d of natural gas and 10 bbls/d of condensate, at 5600 psi, through a 7/64 choke.
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Sharon is the operator of the well, in which it has a 24.4% working interest. Sharon anticipates the well will be producing to sales by the end of the month.

Sharon also confirmed that the operator of the Cheney/Hancock #1 well, Colorado County, Texas, plans to fracture stimulated the well within a week. Sharon has a 14% working interest in the well.

Sharon also plans to commence the drilling of the initial well on the West Wharco-Schilling prospect, by the end of November, 2007. Sharon owns a 30.3% working interest in the prospect and is the operator.

Sharon is an oil and gas exploration and production company with offices in Houston, Texas and in Calgary, Alberta. Sharon's focus is on its operations on the development of its Wilcox properties and the expansion of the Company into new opportunities within Texas.

[IDRILL4GASOIL]

Showing some strength here. Need a 200 bcf and we are off to the races.

[Bobwins]

The difference is typically small. AND Sharon has smaller production and almost exclusively Texas ngas based. Diaz is at least double the production, therefore each new well will create a larger percentage increase in Sharon's production compared to Diaz.

On the NW Speaks wells and maybe into the future, the WI are the same for Sharon and Diaz. Diaz is the older company and the one that Bob Lamond runs. He is also Chairman of Sharon. However even Diaz is now highlighting the Texas ngas wells in their commentary about their future.

I used to own both but now own only Sharon. Bobwins

[IDRILL4GASOIL]

Seems like Sharon may be a little under valued verses DZR? I know DZR has greater WI in the wells.

[Bobwins]

I have a call into Kipp but didn't get a callback yet. Will try again later. Bobwins

[IDRILL4GASOIL]

Yes this looks like it could be a winner. Wonder why Forest never re-completed their well? SHY starting to come out of its trading range. Some good news this summer could give it the boost needed. I am still long and sitting on mine.

[Bobwins]

This is good news. NW Speaks is a big prospect for Sharon where Sharon is the operator and has a higher WI% than on other projects. Nearby existing producers are big as the 200feet of pay indicates. Shallower than Hound Dog and Hancock wells so should take less than 3 months to drill. Bobwins


Sharon Announces Signing Drilling Rig Contract for N.W. Speaks Robertson #1 Well, Lavaca County, Texas
Wednesday July 18, 9:00 am ET


CALGARY, ALBERTA--(CCNMatthews - July 18, 2007) - Sharon Energy Ltd. (TSX VENTURE:SHY - News) announces that it has signed a contract with Pioneer Drilling Company to drill the N. W. Speaks Robertson #1 well, located in Lavaca County, Texas, starting on or about August 18, 2007.
ADVERTISEMENT
[Blocked Ads]

The projected total depth for the Roberson #1 well is 13,600 feet and is located 250 feet from a well which has over 200 feet of potential Wilcox gas pay, based on the Company's log interpretation.

Sharon developed the N. W. Speaks project and will be the operator. Sharon will pay 31.125 % of the drilling costs and have a 35.844 % working interest at casing point.

Sharon is an oil and gas exploration and production company based in Calgary, Alberta. Sharon's current focus is on deep gas exploration in Texas.

[IDRILL4GASOIL]

New preso on web site. This and next year will be telling years.

[Bobwins]

too soon for drilling results but at least we know that they are grinding away and will have results this summer. Late 2007 should be exciting as they catch up from their drilling hiatus last year. Bobwins

[IDRILL4GASOIL]

Nice move on volume today.

[Bobwins]

Yes, could be late in the year before the results show up in the financials and Shy.v has never been a high volume trader anyway, even when ngas stocks were hot.

Higher percentages and operator on the two new fields should help. One of these days, they will miss one and that will hurt. Still like the potential and ngas is going to make a comeback. Bobwins

[IDRILL4GASOIL]

Thanks for the info. I am still holding awaiting some action, looks like end of year at best.

[amarksp]

Nice post. Am glad that SHY will be the operator on 2 of these 3 wells. If SHY can hit on these 2, then several new prospects in their land area become more attractive. Best thing about SHY is these are very long life wells in politically safe USA (over 10 years life). Worst thing, very expensive drilling these deep plays. A dry hole would not be good right now...

[Bobwins]

Called Kip today. Things should start moving in Q2.

First well to be drilled is called Cheney/East Allen Ranch. Working interest is 14% like the other Allen Ranch wells. It is a deep 18,000 foot well that will take 90 days to drill.

Following that well will be two wells of lesser depth and shorter drilling times. More like 38-40 days to get down to 13,000 feet for NW Speaks, a new area that Shy.v has been waiting to drill. Sharon and Diaz originally had 50% each of NW Speaks but will be down to 30% each after selling interests to private investors. Still a significant stake for each and Sharon will be the operator of the project.

As soon as the rig is done with NW Speaks, it will proceed to Warco Shilling? where it will drill to 11,400 feet. Again Sharon is the operator and retained a 30% WI.

Kip noted they are recompleting zones of Dickson #2 and should have results in the next few weeks.

We discussed the price of natural gas and Kip is optimistic that 2007 will be a good year, especially later. He and Chairman Bob Lamond feel the high depletion rates, decreased drilling in Canada and reduced natural gas in storage now point towards firmer prices later in 2007.

The Cheney project will be like previous drillings. Sharon will not be the operator. That has frustrated Kip and so that is part of the reason they are planning on drilling NW Speaks and Warco Shilling. Sharon will be the operator on both wells and any development wells that follow. This control should help Sharon stay closer to her internal schedules and production estimates.

There is no doubt that the fall in gas prices in 2006 affected Sharon last year and caused a cessation of drilling. These deep 18,000 foot wells are very expensive and so Sharon decided to wait until ngas prices firmed. In the interim, drillers are possibly anticipating a slowdown and are charging less for rigs. This will reduce the financial risk somewhat for Sharon. The dry hole cost of an 18,000 foot well is over 2.8 million dollars.

Looking forward to Sharon starting their 2007 drilling program and becoming an operator on their later projects.

Bobwins

[Bobwins]

A year behind schedule on production. Let's see if my 2006 projections can come true in 2007. They need to hit at least a couple of wells to get them in the 1000bpd range and some serious revenues. The land is still there so it's definitely possible, it's a matter of gambling on the likelihood of success and the price of ngas. Bobwins

[amarksp]

Gave Kip a call last week and added to my position. Drilling should start about March 15, SHY should have 3 rigs drilling on all their US properties later this year.

[mhlld]

Sharon Announces Arcs Oil Discovery, Southern Alberta
Thursday November 30, 9:00 am ET

CALGARY, ALBERTA--(MARKET WIRE)--Nov 30, 2006 -- Sharon Energy Ltd. (TSX VENTURE:SHY.V - News) today announces it has discovered a new Arcs oil pool, located near Hays, Alberta.

The discovery well, in which Sharon holds an 20% working interest, has been swab tested and is expected to have an initial production rate of 100 Bbls of oil per day.

At the November 29, 2006 Alberta land sale, Sharon was successful in acquiring additional adjacent lands and based on seismic interpretation, Sharon controls the entire 450 acre prospect. Sharon has identified up to 10 additional potential locations on its acreage.

Further testing of the well and construction of a battery is underway. Additional development drilling will commence during the first quarter 2007.

Sharon Energy Ltd. is a junior oil and gas company currently conducting active natural gas exploration programs in Texas, Alberta and Saskatchewan. Sharon is currently focused on exploring for natural gas in Alberta and deep Wilcox gas 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 TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.



Contact:
Contacts:
Sharon Energy Ltd.
H.C. (Kip) Ferguson, III
President
[phone]
[phone] (FAX)

Sharon Energy Ltd.
Robert W. Lamond
Chairman
[phone]
[phone] (FAX)



--------------------------------------------------------------------------------
Source: Sharon Energy Ltd.


http://biz.yahoo.com/iw/061130/0189866.html

[Bobwins]

I think the Q3 results will be slightly disappointing. The positive things have happened after 9/30/06. The pipeline connection of Jaslan, the comingling of Hound Dog #2. Prior to the comingling, they had to shut down the well so production is going to be light and no new wells were drilled. Because of the price of ngas, the company has delayed drilling and that is going to hurt production in the short run. Longer term, I still like Sharon because of the quality of their prospect locations.

The negative is the depth of the wells requires expensive drill rigs and that has increased expenses while ngas prices have fallen. Not a good combo. Bobwins

[J Sim]

Where should we be with the latest good news?

[mhlld]

Sharon Reports Successful Completion at Hound Dog, Dickson #2 Well, Texas
Wednesday November 15, 9:00 am ET

CALGARY, ALBERTA--(MARKET WIRE)--Nov 15, 2006 -- Sharon (TSX VENTURE:SHY.V - News) reports that the Hound Dog Dickson #2 well, located in Lavaca County, Texas, was completed in the Heartbreak zone, last week, and is currently producing to sales at 2.8 MMcfd at 7,200 psi flowing pressure. Sharon has a 25.3 % working interest in the well.

This is the fourth zone to be completed in the well and a fifth zone, is yet to be completed, before all the zones are to be commingled.

This completion operation represents the recommencement of Sharon's active US development program, which was delayed for the past six months due to declining natural gas prices. Sharon is increasing its activities due to higher current natural gas prices, lower gas focused natural gas drilling in North America as well as a moderation in service costs.

The company anticipates further development wells on the Hound Dog and Allen Ranch prospects as well as drilling a high potential exploratory well on the Cheney prospect, planned for the first quarter of 2007.

Sharon Energy Ltd. is a junior oil and gas company currently conducting active natural gas exploration programs in Texas, Alberta and Saskatchewan. Sharon is currently focused on exploring for natural gas in Alberta and deep Wilcox gas 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 TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact:
Contacts:
Sharon Energy Ltd.
H.C. (Kip) Ferguson, III
President
[phone]
[phone] (FAX)

Sharon Energy Ltd.
Robert W. Lamond
Chairman
[phone]
[phone] (FAX)

Sharon Energy Ltd.
1800, 633 Sixth Avenue SW
Calgary, Alberta
T2P 2Y5 Canada
Website: http://www.sharonenergy.com



--------------------------------------------------------------------------------
Source: Sharon Energy Ltd.


http://biz.yahoo.com/iw/061115/0184824.html

[mhlld]

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

CALGARY, ALBERTA--(MARKET WIRE)--Nov 7, 2006 -- Sharon Energy Ltd. (TSX VENTURE:SHY.V - 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 will add an incremental 600 Mcfd (100 BOEd) net production to the Company.

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

Sharon Energy Ltd. is a junior oil and gas company currently conducting active natural gas exploration programs in Texas, Alberta and Saskatchewan. Sharon is currently focused on exploring for natural gas in Alberta and deep Wilcox gas 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 TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.



Contact:
Contacts:
Sharon Energy Ltd. - Houston, Texas
H.C. (Kip) Ferguson, III
President
[phone]
[phone] (FAX)

Sharon Energy Ltd. - Calgary, Alberta
Robert W. Lamond
Chairman
[phone]
[phone] (FAX)
Website: http://www.sharonenergy.com



--------------------------------------------------------------------------------
Source: Sharon Energy Ltd.

http://biz.yahoo.com/iw/061107/0181620.html

[tr8dervic]

Allen Ranch update from HEC today:

"Allen Ranch Field, Colorado County - Texas

GEM owns an 11.25% non-operated working interest in this area. The initial well, the Hancock Gas Unit # 1, was productive in four sands and has increased its production from 2.5 million to approximately 5.0 million gross cubic feet equivalent of natural gas per day. A second well, the Hancock Gas Unit #2, was drilled and logged as productive in the same four sands as the Hancock Gas Unit # 1 well and two deeper zones were also logged as productive. During 2006, the deeper of the two zones has been fracture stimulated and produced about 5.0 million cubic feet equivalent of natural gas per day. This zone has now been shut-in to test the other productive zone in the well bore.

During the second quarter of 2006, the second zone of the Hancock Gas Unit #2 has been perforated, fracture stimulated, and tested at commercial rates. Two other zones have now been fracture stimulated and tested. Once testing is competed, a temporary bridge plug will be removed and the various horizons commingled for long-term production. Stabilized production rates should be established during the fourth quarter of 2006."

http://biz.yahoo.com/iw/060717/0144764.html

[IDRILL4GASOIL]

New preso out on their web site. Great prospects here. If they could just get some rigs and speed up completion on the wells.

[bigpike]

Sharon Announces Major Growth in Financial Results and Reserves for 2006
Thursday June 29, 9:00 am ET

CALGARY, ALBERTA--(MARKET WIRE)--Jun 29, 2006 -- (Sharon Energy Ltd. reports its financial results in U.S. dollars)

Sharon Energy Ltd. (TSX VENTURE:SHY.V - News) is pleased to report on the Company's improved operating and financial results for the year ended March 31, 2006.

Sharon reported revenues of $4.1 million for the year ended March 31, 2006, compared with $1.0 million one year earlier. Cash flow increased to $3.1 million, or $0.07 per share, a significant increase from $304,000 for the same period in 2005. Sharon reported earnings of $1.2 million for the year, compared with $766,000 one year earlier.

Production for the year nearly tripled to 331 BOEd from 115 BOEd reported in 2005. Proven and probable oil and gas reserves increased to 2.4 MMBOE from 1.0 MMBOE in 2005. The present value of the Company's reserves, discounted at 10%, increased to $45 million from $13 million for the prior year.

Financial and Operating Highlights 2006 2005 % Increase
-------------------------------------
- Production (BOEd) 331 115 188
- Revenue $ 4,103,904 $ 1,004,575 30
- Cash flow $ 3,086,657 $ 303,682 916
- Oil and gas reserves (MBOE) 2,426 1,060 130
- Present value of reserves $ 43,595,000 $ 13,268,000 265

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Exploration and Development

During 2004/2005, Sharon drilled two deep Wilcox discovery wells in Texas, on the Hound Dog and Allen Ranch prospects. These wells, in which the Company holds working interests of 28% and 14%, respectively, are currently producing at 2.6 MMcfd and 4.8 MMcfd of gas and have cumulative production volumes of 1.2 Bcf and 1.4 Bcf. The Allen Ranch well has also produced commercial gas from three additional Wilcox zones and operations to commingle gas production from all four zones are anticipated to commence this summer.

During 2006, Sharon drilled a step-out well on each of the Allen Ranch and Hound Dog prospects, encountering multiple gas zones in various deep Wilcox sands. Completion operations have commenced on both wells and Sharon anticipates further re-completion and commingling operations to be completed by mid-summer.

In addition to the above captioned prospects, the Company holds a 50% working interest in the Northwest Speaks Wilcox prospect. The Company is presently seeking equipment to drill the first well on this multi-zone Wilcox prospect and hopes to commence operations by Q1 2007.

Based on the results of drilling and completions to date, Sharon anticipates continued production and reserve increases in the United States over the next year. In addition, new production planned to come on stream from oil and gas wells in Alberta should provide production and reserve increases from its Canadian drilling program.

Summary of Operations

For the Year Ended March 31
-----------------------------
(expressed in U.S. Dollars) 2006 2005
------------------------------------------------------------------------
Financial
Total revenue $ 4,103,904 $ 1,004,575
Cash flow from operations $ 3,086,657 $ 303,682
per share $ 0.07 $ 0.01
Earnings for the year $ 1,119,561 $ 766,460
per share $ 0.03 $ 0.02
Capital
Additions $ 6,905,939 $ 2,009,047
Dispositions $ 642,884 $ 150,000
Net debt $ 1,667,539 $ 3,269,078
Total assets $ 11,893,423 $ 6,320,738
Operations
Production
Gas (Mcfd) 1,734 540
Oil (Bopd) 42 25
BOEd (6Mcf =1Bbl) 331 115
Product Prices
Gas ($/Mcf) $ 7.50 $ 5.00
Oil ($/Bbl) $ 52.97 $ 38.38
Reserves
Gas (MMcf) 13,559 5,616
Oil (MBbl) 166 124
BOE (MBbl) 2,426 1,060
Present value, before income tax
discounted at 10% $ 43,595,000 $ 13,268,000
Total shares outstanding, at year end 50,811,065 38,422,265
------------------------------------------------------------------------
------------------------------------------------------------------------

Oil and Gas Reserves and Reserve Values

Sharon's petroleum and natural gas reserves were evaluated by independent engineering consultants, AJM Petroleum Consultants ("AJM"), effective March 31, 2006 and a summary of certain aspects of their report follows. The AJM report was prepared in accordance with National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities ("NI 51-101").

It should be noted that estimates of future net revenues either discounted or presented after tax do not represent fair market value of the reserves. The estimates of reserves and future net revenues for individual properties may not reflect the same confidence level as estimates of reserves and future net revenues for the Company.

Canadian oil and gas companies are required to have their oil and gas properties evaluated and reported upon in accordance with NI 51-101. This policy sets standards for reserve recognition which in some respects are higher than those used by evaluators in the past. The standard implies a 90% confidence rate that actual proved reserves will be equal or greater than the estimate and a 50% confidence rate that the proved and probable reserves will be equal or greater than the estimate. Given the inherent difficulties in estimating reserves and the limited amount of information available for newly drilled or completed wells which do not have production history, it is likely that reserve forecasts for these properties will be lower in early years of their development.

Over the last year, Sharon's proven and probable reserves increased by 129%, to 2.4 million BOE and the net present value of future revenue before income tax, using a 10% discount rate, increased by 229%, to $44 million. During the year ended March 31, 2006, the Company added proved reserves at a cost of $16.68 per BOE and proved and probable reserves at a rate of $9.81 per BOE.

At March 31, 2006, 66% of Sharon's reserves were classified as probable. These reserves were primarily assigned to the Allen Ranch and Hound Dog properties, where the two new Wilcox gas wells are being completed and production tested and are anticipated to be placed on production in July 2006. Once these wells are completed and placed on production, the Company believes a significant percentage of the probable reserves will be reclassified as proved producing reserves.

SUMMARY OF OIL AND GAS RESERVES
AND NET PRESENT VALUES OF FUTURE NET REVENUE
AS OF MARCH 31, 2006
FORECAST PRICES AND COSTS (US$)

RESERVES
----------------------------------------
LIGHT AND
MEDIUM OIL NATURAL GAS
----------------------------------------
Gross Net Gross Net
RESERVES CATEGORY (MBbl) (MBbl) (MMcf) (MMcf)
------------------------------------------------------------------------
PROVED
Developed Producing 79 66 3,101 2,419
Developed Non-producing - - 64 56
Undeveloped 30 25 1,152 949
------------------------------------------------------------------------
TOTAL PROVED 109 91 4,317 3,424
PROBABLE 48 41 9,242 7,060
------------------------------------------------------------------------
TOTAL PROVED PLUS
PROBABLE 158 132 13,559 10,483
------------------------------------------------------------------------
------------------------------------------------------------------------


NET PRESENT VALUES
OF FUTURE NET REVENUE (1)
BEFORE INCOME TAXES DISCOUNTED AT
(% per year)
------------------------------------------------
0 5 10 15 20
RESERVES CATEGORY (M$) (M$) (M$) (M$) (M$)
------------------------------------------------------------------------
PROVED
Developed Producing 19,670 17,261 15,435 14,018 12,889
Developed Non-producing 247 206 173 148 128
Undeveloped 7,212 5,898 4,988 4,319 3,805
------------------------------------------------------------------------
TOTAL PROVED 27,129 23,366 20,596 18,485 16,821
PROBABLE 56,183 33,517 22,998 17,235 13,685
------------------------------------------------------------------------
TOTAL PROVED PLUS
PROBABLE 83,312 56,882 43,595 35,720 30,506
------------------------------------------------------------------------
------------------------------------------------------------------------
NOTE: (1) Figures may not add due to rounding.

SEDAR Filings

Further information regarding financial and operating results may be obtained at www.sedar.com, where the Company's MD&A and financial statements have been filed.

BOE Presentation - The term barrels of oil equivalent (BOE) may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 Mcf: 1 Bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. All BOE conversions in this report are derived by converting gas to oil in the ratio of six Mcf of gas to one Bbl of oil.

Financial Reporting - All numbers are reported in U.S. dollars.

Sharon Energy Ltd. is a junior oil and gas company currently conducting active natural gas exploration programs in Texas, Alberta and Saskatchewan. Sharon is currently focused on exploring for natural gas in Alberta and deep Wilcox gas 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 TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.


Contact:

Contacts:
SHARON ENERGY LTD. - Houston, Texas
H.C. (Kip) Ferguson, III
President
[phone]
[phone] (FAX)

SHARON ENERGY LTD. - Calgary, Alberta
Robert W. Lamond
Chairman
[phone]
[phone] (FAX)

Sharon Energy Ltd.
#1800, 633 Sixth Avenue S.W.
Calgary, Alberta
T2P 2Y5 Canada
Website: http://www.sharonenergy.com


So

[Bobwins]

I agree that the second crew and drilling rig would be key to quicker movement in Sharon stock. The multiple rigs PLUS the higher percentage of NW Speaks would yield results faster and translate to a much bigger bottom line.

I think that the appointment of the Diaz person means that they need these wells badly to shore up their Diaz production. 200boepd per well isn't going to help Diaz that much. They need a combination of wells to increase production by 700 to 1000boepd to really help Diaz. That means two rigs and NW Speaks. Bobwins

[amarksp]

No, have not spoken to Kip lately.

SHY should start out-performing when they drill the new well in July. Given its location on Allen Ranch property (next to Newfield), striking a good size well appears pretty much assured.

But here's hoping Kip gets that 2nd drill rig with a "good" crew... This is of utmost importance. With 2 dedicated deep drill rigs and good crews, then SHY should be a good long term hold, especially if SHY retains 50% of NW Speaks, is the operator, and strikes at NW Speaks... That's my hope anyway...

[Bobwins]

Have you talked to Kip at Sharon lately? Must be getting awfully close to announcing HD#2. I sure hope it's a positive production rate. Bobwins

[bigpike]

Thanks, your detailed analysis and insight is much appreciated.

[amarksp]

PMI should be announcing drill results in next few weeks...

"The discovery results from recent underground development work and an on-going drilling program, which should be completed by mid-June."

Am not sure if PMI will announce full 43-101 results at that time or not..., but 43-101 will have to be announced by July 2006 when annual filing must be submitted. Sure would like to see 2+ years production of PP reserves with average grade above .23, and lots of inferred ounces (e.g. over 3 years production).

Decent volume today, let's hope its related to the upcoming announcement of the drill results...



http://tsedb.globeinvestor.com/servlet/WireFeedRedirect?cf=GlobeInvestor/tsx/config&date=2006051...

[Bobwins]

Bigpike... I have both Sharon and Choice. I found Choice first and have held thru what I had hoped would be a big well at Pincher Creek that turned out not so big. Sharon has been my more recent favorite because they have big wells, multiple zones and they haven't missed yet.

However both of these guys have the same problem. The numbers look good but it takes a long time for the production to translate into $$$$$$. Choice is currently cheaper and they have more production coming online sooner because of the upcoming merger. In addition, they have kakwa coming up on testing and Pincher Creek drilling to start in the fall.

I really like Sharon but it will take two or three more hits for them to be really cheap. That will likely be towards the end of 2006 or early 2007. The good thing about Sharon is that they have an inventory of big wells for the next 18-24 months. I think they are going to add a second drilling rig to speed up the process this fall because Diaz needs Texas wells to boost their stagnant production and Diaz and Humboldt Capital have plenty of money to throw at the Sharon targets so I think they will make a move to speed things up.

At C$.50, Sharon is cheap because by year end, I think they will cashflow .05/qtr and that's less than three times forward annualized cashflow. I think Choice will get to that same cashflow figure sooner but the stock price is close to double. Sharon has the advantage of having a small current production number so one well makes a big difference. Choice will have a harder time, going forward because it takes a big well to make a difference when you are over 2,000boepd and they issued more shares to get Deep. Sharon is still around 350boepd. Sharon is due to release Hound Dog #2 results any day. This would be a good time to buy before the results are released.

Likewise Choice will release Kakwa results at the end of June. Both are very cheap ngas plays if you are willing to hold for a few months. I plan on holding both for many months because of their excellent drilling inventories.

Bobwins

[bigpike]

Bobwins,
What are your thoughts on SHEYF at this price?
I've always favored CZE, but at this price debating if Sharon
worth adding to.

[IDRILL4GASOIL]

I understand, I am in for the long term. They have some wondeful prospects and if the value is not reflected in the stock. At sometime is will be reflected or they will sell out. Thanks for the info.

[Bobwins]

They have some participations in Diaz's canadian shallow ngas wells but likely won't in the future. They have a full plate. Six more drilling sites at Hound Dog and Hancock will occupy the next 18-24 months. Should push them well over 1000boepd. NW Speaks is the wild card. Nearby wells have been huge, in the 20-25mmcfpd range. El Paso Natural Gas is the nearest driller. CEO said NW Speaks was his favorite. They have 50% working interest so would have a huge impact if they hit a big one.

Sharon has an amazing inventory for a company this size. Not sure what you are looking for. At $8 million a pop, these wells will strain even Sharon's improved cashflow.

The only drawback is how long it takes them to drill, test and complete the multiple zones. CEO is looking for a second rig and DIAZ appears to want to speed things up. Their new President is apparently going to devote substantial time to Texas per the recent PR. If they can't find another rig, we will have to wait until spring 07 for NW Speaks. I can't wait! Bobwins

[IDRILL4GASOIL]

Thanks for the update. I have been adding and will continue to add as it drops if that is the case. Are they in on the Canada wells? They seem to be prudent in there thinking determining what they have. They have not been in a position to over extend themselves. Did talk about any other irons in the fire? Thanks for the info.

[Bobwins]

Talked with Kip Ferguson, CEO, today. I asked if the shutdown of Hancock #2 and opening the upper zones was a negative. He said no. They drilled #2 to test the lower zones that weren't reached by Hancock#1. He said they didn't want to miss the upper zones either so they were right next to the fault. He was very happy with the production they got. They will now test the other lower zones and comingle the output.

Said they needed to be faster with testing the zones. Taken a year to test the zones in Hancock 1. Many zones. I think he said including the lower zones, there were 18. He said the drilling by another company on adjacent property is competing with Hancock on the lower zones but not the original upper zones.

They are building the processing facility at Hound Dog #2 to handle up to 20,000mcfpd. Will probably start out at 12 or 13K but has expansion capability. Building it before the well is tested indicates their confidence in a commercial well.

Says that Diaz announcement that they will drill NW Speaks this year is probably not going to happen. They only have one drilling rig. They get the rig back on 7/1 to spud the third Hancock well, then HD#3 will spud in October and that means NW Speaks would likely be 1/07. Diaz doesn't understand how hard it is to get the type of top drive rig capable of 20,000 feet. Diaz is drilling shallow ngas wells in Canada and there are enough, especially after a warm winter when the fleet wasn't able to get out into many restricted areas due to the warm weather.

He also commented that he is hearing rumblings that the drilling fleet isn't as booked as they have indicated publicly. They want two year commitments for their existing rigs. Kip says he is expecting 160 new rigs to come on the market this summer and he thinks the drillers are not going to have customers for them. He thinks the exploration companies don't have sufficient deep drilling prospects. The bigger companies don't have the drilling inventory to keep the deep rigs busy. He has turned down subpar rigs that wanted a premium. He says he would rather wait until the new rigs come on the market and he has more bargaining power.

Really very optimistic due to the multiple drilling opportunities in Hancock and Hound Dog.

Asked about shares coming on the market. He said that 's true about 5/6/06. But he says there will be good news in May. Hancock #2 should be done testing and back online. Hound Dog 2 results will be published in May and the annual report will be done in May. There would probably be a drilling update in July. Should help soak up shares but there were 8 million shares in the private placement and Diaz only controls 2.5 million. Also Sharon doesn't trade that much. So Ed Ajootian could be right about the price fading into the 50's.

I still think HD#2 will give them a boost because it will be verification that they have multiple drilling opportunities at both Hancock and Hound Dog. 5,000mcpd is a good sized well for either US or Canada. If HD is bigger, it will attract notice.

Bob

[IDRILL4GASOIL]

Nice PR today. These wells are high presure wells with what looks like good reserves and logs. If we could keep a rig in there we could get this company going.