Value Microcaps Motherboard

[RRainman9999]

Geographically, the Company's reserves are located in three primary areas: the Williston basin in North Dakota and Montana, the Denver-Julesburg (D-J) basin in Colorado and on-shore south Texas. The following table summarizes the estimated proved developed oil and gas reserves divided between operated and non-operated properties for these three areas as of March 31, 2004:




Net Oil Net Gas
(Bbls) (Mcf) BOE %
------- --------- --------- ------
Williston Basin
Operated 302,000 111,000 321,000 30.8
Non-Operated 169,000 147,000 193,000 18.5
------- --------- --------- ------

471,000 258,000 514,000 49.3
------- --------- --------- ------

South Texas
Operated 357,000 43,000 364,000 35.0
Non-Operated -- -- -- --
------- --------- --------- ------

357,000 43,000 364,000 35.0
------- --------- --------- ------

D-J Basin
Operated 27,000 788,000 158,000 15.2
Non-Operated 2,000 16,000 5,000 0.4
------- --------- --------- ------

29,000 804,000 163,000 15.6
------- --------- --------- ------

Other Areas
Operated 1,000 -- 1,000 0.1
Non-Operated -- -- -- --
------- --------- --------- ------

1,000 -- 1,000 0.1
------- --------- --------- ------

Total 858,000 1,105,000 1,042,000 100.0
======= ========= ========= ======


Indeed I was wrong don't know but I still had that number in my head from last year when the stock traded below 0.4 !

RR