buyers lining up, page-25

Facts to consider:

For the shareholders: Develop the asset till it was a saleable asset, and then sell the company. An objective of management at MAE.

Completed a reserve report, ready in a few weeks time, mentioned (26/02). Report should be ready this week.

Project - Extremely large, quite complicated; geographically, and technical.

Larger company with much larger resource to develop clear creek. NOW IS THE TIME, TO SELL THE COMPANY. This is an attractive company to buy.

New report - can't 2nd guess, hoping reserves will increase.

A reserve report prepared in 2002 by Ryder Scott, Petroleum Engineers, estimated the coal gas resource potential in place at Clear Creek to be approximately 1.456 Tcf of gas and of this amount, approximately 962 Bcf would be recoverable.