euroz securities circ. valuation 90c+

Euroz Securities has upgraded AMU after the Quarterly Report with a valuation of 90c+ ....

Here is an extract of details from that report it circulated to its key clients .

"Oil & gas production totalled 73 kboe (v’s our forecast of 71 kboe) for the Dec Q. Revenues totalled US$3.2m for the period.
Three out of four successful appraisal wells at AMU’s primary oil production hub Raccoon Bend (AMU 60%) has highlighted the benefit of 3D seismic over the field. We anticipate production will ramp up to ~1000 bopd (gross, net of royalty) in the current H (from ~500 bopd currently) as a result.
The recent Byczynski-1 gas exploration well (AMU 25%) intersected >150 ft net gas pay, correlating to 10-15 bcf in the primary target Matula Channel. This equates to 10-15 cps to AMU and further demonstrates the potential of the Lavaca County acreage to AMU. AMU anticipates 2 exploration wells per Q on this acreage."

There is more ....esp with the well starting with FAR mid Feb05 . Best to read FAR quarterly for that detail . Should be another announcement as drilling gets closer ...