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MYSTQUE ENERGY (MYS.V) RSS Feed

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COMPANY NAME: MYSTIQUE ENERGY Stock Symbol- MYS:TSX-V Corporate Overview* Mystique Energy, Inc. was incorporated in January 2004 through the amalgamation of Schwanberg International Incorporated and Lanex Resources Inc. We are a junior oil & gas company focused on exploration and development of petroleum reserves and production in western Alberta . Mystique is a public traded company on the TSX Venture Exchange under the symbol "MYS". *Production now at 66 boepd *fully diluted 32.8 million shares *share outstanding - 24.3 million shares Growth Strategy for 2004 and Beyond* Mystique's growth strategy will be exploration driven. We intend to have a strong exploration team in place by mid-summer. In the interim, we are raising funds for acquisitions and to acquire lands and seismic to implement our exploration strategy. Overview of Operations* Mystique's core area of operation is located in the Garrington field in central Alberta . This area comprises thirteen producing wells and two facilities operated by Mystique. Production averages 350 boepd, 62 boepd net to Mystique. After reviewing the overall operations of the area this winter, the company implemented changes to reduce field operating costs. These changes included installation of our own field equipment to eliminate rental costs and building a small flowline from our 6-6 well to our 6-35 facility to reduce trucking costs. Mystique will also be proceeding with two recompletions that will add production. One of the recompletions could lead to infill drilling in the future. *Quoted from the company web site http://www.mystiqueenergy.ca/ Highlights from last quarterly report for the three-month period ended March 31, 2004: -Doubled production sales for the same period in 2003 -Cashflow positive (increased by 5 times over the same period in 2003) -positive net earnings vs loss same period 2003 -big decrease in expenses -Working capital surplus at March 31, 2004 of $658,920 and no long term debt Please see the PR for further info&.. http://mystiqueenergy.ca/News&Events.htm For further DD- see monthly updated corporate overview (powerpoint presentation)& fact sheet http://mystiqueenergy.ca/News&Events.htm Please verify the company web site for up to date info about the comoany http://mystiqueenergy.ca
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