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List:       pkg-shadow-devel
Subject:    [Pkg-shadow-devel] Up $1.07 In Last 7 days
From:       "Byron Salazar" <xkhroztnr () bentley ! edu>
Date:       2005-12-30 14:14:03
Message-ID: 0006$01abb236$0337a619 () bia-k13frinh0mp
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KO KO PETROLEUM (KKPT) - Friday Alert Up Over 100%

Current Price: 1.60
Up $1.07 In Last 7 days

Symbol - KKPT

Watch out the sto ck go crazy Friday 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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