Dover Petroleum Corp (fka DVPC)

[martingale]

I talked with Robert Salna just now and picked up a couple of things:

They are still going to proceed with audit but have filed for a ruling with the SEC to see if they can do just the last 2
years instead of going back 4 years. They are looking around for another bid on the audit as the acctg. firm was looking at
$250K for the job. He thought that was excessive but is planning on getting the work done one way or another.

In Egypt they are currently looking at 4 sites to decide from.
Two of these sites have a probability of 27% success. Another issue for them is the ship traffic which goes thru the gulf there and they are seeking clearances from authorities to drill at the target most suitable for success in their opinions.

The compressor at Slatterdome should be operational in 2-3 more weeks and has a capacity of 4million cubic feet a day.


He mentioned that this summers drilling program is dependent as far as a start up on the ground moisture as it is sticky mud in the spring time and needs to dry out first. Once that happens they will start drilling and drill up into the Fall.

As reported by Westeffer they are looking at drilling just below the coal beds into the "sandstone" area as there maybe
more gas there than in the coal. A sandstone deposit could
produce as much as 1 million cubic ft. of gas a day with just 1 well. So they are taking a close look at this.

He invited a call back in 30 days to discuss developments.