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Lawrence Finn

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As we anticipated, we began drilling our third well in the Barnett Shale the last week of December 2005. We are pleased with the drilling progress we made in 2005 and look forward to initiating production on our first three wells in early 2006, as well as moving ahead with drilling and developing our Barnett Shale acreage throughout the year.

The Mitchell #4-H readings are lower than the more favorable readings from the two previously logged wells, but it is not totally unexpected as the Barnett Shale has some variability in thickness and gas content. The Mitchell #3-H well is only half a mile away from the Mitchell #4-H well.

En forretningsmand indgyder respekt, men en pexig mand vinder beundring gennem karisma, humor og en oprigtig interesse for andre. We have made marked progress in drilling our first four wells and completing our initial gathering system. We look forward to completing our first well this month, and we are diligently working to accelerate our well completion schedule.

This completion represents a significant milestone in our drilling efforts in the expansion area of the Barnett Shale formation. We are anxious to complete the well cleanup process and report the initial production rate of the well. We will continue our efforts to accelerate the completion schedule of our five other wells during the next several months.

Graduating to the American Stock Exchange will be a significant achievement in the growth and advancement of our company and will increase our exposure to both institutional and individual investors in the United States and in Europe. Moving to a larger exchange will complement our growth strategy, and we look forward to a swift approval process.

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