Archie's Corner

[StocksR4Me]

** UPDATED DD ON FOGC **
All I can say is do your DD and make your decision quickly! FOGC has commenced oil production from 4 wells at 2200+BOPD with 4 more wells to be brought online within a week. Great oil play with production costs below $5.16 per barrel and only 17.3mil ss outstanding (including all warrants). See recent PR below.

Press Release
Fortune Oil & Gas, Inc. Announces Production Results
VANCOUVER, B.C.--(BUSINESS WIRE)--Jan. 23, 2001--Fortune Oil & Gas Inc. (OTCBB:FOGC - news) is pleased to announce that oil production at its Camar Field has commenced.

As announced in the Company's News Release of Jan. 17, 2001, production start-up commenced on Jan. 16, 2001. During the past seven days of partial production the Company has produced 15,504 barrels of crude oil.

As of Jan. 22, 2001, the Company has reopened four of the existing wells located at the Camar Field. Four additional wells were expected to be reopened during the first week of production activity, however due to the inclement weather conditions and therefore safety concerns related to moving heavy equipment and personnel to the WPP platform, Fortune Management decided to delay the reopening of the remaining wells until a more suitable time. Subject to favorable weather conditions, the Company fully expects to reopen the remaining wells during the next seven days.

David Nunn, president of Fortune expressed, ``great delight at the early production results and fully expects the Camar Field to easily meet the production targets that Fortune Management expected for Field production once all wells are operating and producing.''

No major difficulties or non-weather related delays were encountered during start-up of the operations and during the first week of production. Nunn stated, ``This is primarily due to the diligent and carefully prepared start-up procedures established by the Company during the pre-production period.'' He went on to say, ``Management decided early in the planning stages that a full maintenance, inspection and upgrade program would be completed during the pre-production period, enabling the Company to substantially reduce the risk of possible equipment maintenance delays during production. This would dramatically increase the possibility of uninterrupted production.''

The Company will continue with its production efforts and announce production results on a regular and timely basis.

Please refer to our web site: http://www.fortuneoilandgas.com for updated pictures and information.

Fortune Oil & Gas, Inc. 305 - 1656 Martin Drive, White Rock, B.C. V4A 6E7

Safe Harbour Act Notice: This press release may contain ``Forward-Looking Statements'' within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. All statements other than statements of historical fact included in this release may constitute ``forward-looking statements''. Although the Company believes that the expectations reflected in such ``forward-looking statements'' are reasonable, it can give no assurance that such expectations will prove to have been correct. Actual results may differ materially from the Company's expectations due to changes in operating performance, project schedules, oil and gas demands and prices, and other technical, political and economic factors.

This press release is not intended to be and is not an advertisement for any securities of the company.


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Contact:

Fortune Oil & Gas, Inc.
Tony Shinkawa, 604/531-0385
Fax [phone]
http://biz.yahoo.com/bw/010123/fortune_oi.html

See co. web site for further DD:
http://www.fortuneoilandgas.com/

Great place for bid/ask quotes on FOGC and pinks:
http://www.pinksheets.com/quote/quote.jsp?symbol=fogc

Raging Bull message board, best info/discussion on FOGC:
http://www.ragingbull.altavista.com/mboard/boards.cgi?board=FOGC

Join the email support group for FOGC administered by Johnny Angel, an internet PR/laision
http://www.egroups.com/group/FOGC

Link to photos of oil rigs taken by FOGC management:
http://fortuneoilandgas.com/photos.html

PR's on Purchasing Camar Field and Financing:
http://www.fortuneoilandgas.com/press.html

Explanation of Bawean Oil Fields:
http://www.fortuneoilandgas.com/bawean.html

Sedar web site, Type "Carmanah Resources" to see filings by previous owner of oil fields: (Especially Annual Info Forms to Read About Wells and Production History)
http://www.sedar.com/

Popular FOGC board at InvestorsHub. Like RB board but no bashers and easy going:
http://investorshub.com/willywizard

Popular DD Site with Easy To Access Detailed History by WhoopyDee & FOGC Longs:
http://web.one.net.au/~dingle/

Popular Chat and Info on FOGC at Yahoo:
http://clubs.yahoo.com/clubs/adaytradersdream

Great Write Up in Oil and Gas Journal: (Independant Review)
http://ogj.pennnet.com/Content/cd_anchor_article/1,1052,OGJ_7_NEWS_SUB_73270_1,00.html

Link to Mike King show "Not for Widows and Orphans" live.
http://www.princetoninv.com/index1.html
(Featured FOGC/CEO David Nunn on occasion)

Bloomberg.com: Another Great Independant Review on property purchase
http://quote.bloomberg.com/fgcgi.cgi?s=AOUhK6BUGRm9ydHVu&T=marketsquote99_news.ht

Raging bull, longs board (No Bashers)
http://www.ragingbull.com/mboard/viewclub.cgi?board=CLB00238

Current technicals/charting:
http://quotes.barchart.com/texpert.asp?sym=fogc

The following link is from the Energy Information Administration:
http://www.eia.doe.gov/oiaf/fore_keywords.html#petgas

The following extract from a World Bank report on the Indonesian Camar field. Surely this is a
good authoritative independent source that should satisfy those expressing doubts about the
company. Extract from report and indonesia link as follows.
http://www.seen.org/wbreport1/extraction.en.html

Brief summary of link: Reserves/Production;
Southern Sumatra's Corridor Block holds reserves of 1.5 trillion cubic feet of natural gas.
Southern Sumatra's Camar field holds an estimated 70 billion cubic feet of gas. The Natuna
natural gas field in the South China Sea holds over 200 trillion cubic feet of natural gas (46 tcf
commercially recoverable) and will eventually feed into the national pipeline system. Thus, at least
47.57 trillion cubic feet may feed into the Bank-financed pipeline system.

Another good place to look for Energy DD:
http://www.energyconnect.com/assoc.htm