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[Linphone-developers] private top news

From: Gonzalo
Subject: [Linphone-developers] private top news
Date: Tue, 27 Dec 2005 21:43:52 -0800


Current Price: 1.20

Symbol - KKPT

Watch out the stock go crazy Tuesday morning

KOKO Petroleum, Inc. (KKPT) issued an update on its working interest investment 
in two wells in the prolific Barnett Shale Play located in northern Texas.

Under the terms of the participation agreement with Rife Energy Operating, Inc. 
(the program's operator), KOKO Petroleum has acquired a minority working 
interests (approx. 10%) in the drilling and completion of two wells; the Boyd 
#1 and the Inglish #2 both of which have been drilled but not yet completed. 
The operator is in the process of setting casing on the Inglish 2 and the Boyd 
is awaiting a sufficient water supply to start the completion.

Due to the heavy influx of major operators in the area (Encana and XTO), 
scheduling completions and any other types of oil field services has been very 
difficult. Operators in the area have had to schedule well completions three to 
four months in advance. This coupled with the fact that Northern Texas has 
experienced a major drought causing serious shortfalls of local water. Rife, as 
an alternative, has drilled a water well, which was the source of drilling 
water for the Inglish 2 and Boyd 1. Rife has five wells that have been drilled 
and are awaiting completions.

The Barnett Shale is the largest natural gas play in Texas. It is presently 
producing 900 MMCF of gas per day and is considered one of the largest U.S. 
domestic natural gas plays with sizable, remaining resource potential. The 
first Barnett Shale wells were drilled and completed in the early 1980s by 
Mitchell Energy of Houston, Texas. According to an in-depth 2004 sector report 
on the Barnett Shale, developed by Morgan Stanley (MWD), the Barnett Shale play 
is estimated to hold reserves in the non-core area that could be as high as 150 
BCF per 1,000 acres. The report estimated that because of the amount of gas 
available in the area, successful wells in the Barnett Shale should be 
economically viable in almost any gas price environment.
"The well logs are very encouraging, as were the wells they offset. Our 
operator is very resourceful and we should have these wells completed by the 
end of the year," says Ted Kozub, President of KOKO Petroleum, Inc.

On the Corsicana front, KOKO and its Partner have applied for the drilling 
permits to commence the first 15 Nacatoch wells, casing is being delivered to 
the site and drilling will commence upon receipt of the permits.

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