Heres a bit more info from their ASX release.The properties,...

Heres a bit more info from their ASX release.


The properties, which are currently producing 740 BOE a day net, were purchased from
White Eagle Resources Corp., effective from 1 October 2005.
The 113 leases contain 300 producing wells located across 16 counties, covering 18,240
acres. They have a cumulative production history of 72 million barrels of oil (bbls) and 4.4
billion cubic feet of gas.
The current Proved Developed Producing (PDP) reserves are 5.2 million bbls and 720 million
cubic feet (mmcf) (3.8 million bbls and 370 mmcf net).
In the 2005 financial year Amadeus produced 282,600 bbls of oil (net) and 299 mmcf of gas
(net). With the White Eagle acquisition together with previously announced acquisitions, the
Company forecasts that production of oil in 2006 is expected to increase by a minimum of
120% above the previous year and gas by 375%.

Additional Upside:

Sixteen 3-D seismic projects have been shot on 32 of the leases (5,240 acres) from which
White Eagle has identified 50 locations (drilling targets) and drilled 18 with 15 economic (oil)
successes. There is potential for similar “attic” oil in the other 81 leases (approximately
13,000 acres) which have not yet been shot with 3-D seismic.
Based on results to date, the additional 3-D coverage, which Amadeus will undertake during
the current financial year, could add another 124 locations. No value was assigned for this
potential in the purchase price.

Funding:
Amadeus will fund 95% (US$55.6 million) of the deal to earn its 85% working interest. The
remaining working interest owner being TNT Engineering (Amadeus’ managing operator
based in Wichita Falls, Texas).
Funding is a combination of bank debt through Wells Fargo Bank, Dallas, Texas and a
placement of 23 million ordinary shares to be carried out by Shaw Corporate Finance Pty Ltd.
Further details regarding the capital raising will be announced prior to the conclusion of the
trading halt.
A share purchase plan (SPP), will be offered to existing shareholders. Full details of the SPP
will be lodged with the ASX today and mailed out on Tuesday, 11 October 2005. New
shareholders buying shares in Amadeus after the record date of 5 October 2005 will not be
eligible to participate. The SPP will close at 5:00 pm (WST) on Tuesday 1 November 2005.


Investment Highlights:

The investment attractions of the deal for Amadeus include:

.. 740 BOE a day, current net production
.. 5.0 million BOE net total proved reserves, made up of;
o 3.8 million BOE net proved developed producing reserves; and
o 1.2 million BOE net proved undeveloped reserves


.. 98% operated by Amadeus (through TNT Engineering)
.. 99% Oil by revenue / 1% gas
.. Predictable long-life reserves from fields with a significant production history
.. Leases geographically concentrated in central Kansas
.. 83% economic success on recently drilled wells
.. 31 Proved Developed Non-Producing (PDNP) locations
.. 37 Proved Undeveloped (PUD) infill locations