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kanzler

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kanzler

Re: None

Wednesday, 11/22/2006 9:03:43 AM

Wednesday, November 22, 2006 9:03:43 AM

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NAV $78.5 million

$60 million Net Present Value is a considerable increase, but it is not telling the whole story. Adding Ensign ($14.5 million internal reserve estimate) and cash/land/seismic (+$4 million) we are now at NAV $78.5 million.

McLeod 6-8, if successful, will contribute 10-20 million, and we also have 2 Teepee wells and Gold Creek (scheduled to be tested in December), which are not yet included.

ROL is well on track to hit the $100 million level at year end.
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