Replies to post #72 on Ness Energy (fka NESS)

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NESS: Corrected Version: Ness Energy Announces Significant Increases in Reserves
Monday March 27, 2:10 pm ET


WILLOW PARK, Texas and NETANYA, Israel, March 27 /PRNewswire-FirstCall/ -- Ness Energy International, Inc. (OTC Bulletin Board: NESS - News) reported the Company achieved a substantial increase in proved reserves for the calendar year 2005.
Ness continues to expand its proved reserve base. According to an annually required and recently completed third-party reserve analysis report, total proved reserve value for the year ended December 31, 2005 was calculated as $246,358,000 (PV-10), before income taxes. This is an increase of approximately 203% from the 2004 reserves.

Ness President and CEO Sha Stephens commented, "These positive results for 2005 reflect the success of one of the aspects of the Company's continuing efforts of increasing shareholder value by building a strong asset base. Our business model continues to prove to be an effective strategy and we plan more of the same for 2006."


When the tax effect is applied to this future potential income, it
represents a potential real dollar value to Ness of approximately $209,690,000
(see table below).



2005 2004

Future cash inflows $630,581,000 $209,942,000
Future production costs (82,544,000) (27,930,000)
Future development costs (24,425,000) (4,326,000)
Future income tax (144,115,000) (30,151,000)

Future net cash flows 379,497,000 147,535,000
10% annual discount (169,807,000) (78,293,000)

Standardized measure of
discounted future net cash flows $209,690,000 $69,242,000


About Ness - The Vision
Ness Energy is an aggressive, emerging oil and gas company building on deals that make sense. Ness energy operates interests in the Ft. Worth Basin and the Coastal Plains regions of Texas. Ness is also a very active player in the energy industry in Israel, carrying out The Vision of the Company. Ness Energy is building at a high-speed pace through mergers, acquisitions, drilling, re-work and re-entry.

Certain Information

The information contained in this press release must be read in conjunction with the Company's recently filed 10-KSB and do not constitute a full and complete report of the Company's financial condition.