Cuervo Resources Inc CRVNF

GLJ preliminaries in-house

[blueranger]

Find will be telling the truth at Wednesday's conference, GLJ have done the preliminary reserves report, actual production numbers are known for January 2006 and can be estimated for February, plus they have licensed and rig released 6 wells in Pembina in 2006; so they should have an idea of how the new wells fit with the existing ones. Production for Nov 2005 showed about 7 mmcf/d gross coming from 2 Rock Creek wells at Pembina and all the other wells averaging 300 mcf/d or shut-in. Pays ranging from 5m in the two good wells to 2m or less in the rest. One good well is shut in (1.4mmcf/d), presumably because they don't have reduced spacing approval. I hope they make their numbers, if they have to re-state, it would damage both Find and the gas sector in general.