Aspen Group Resources (ASRPF): For those looking for value in the Canad...

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Wednesday, 01/22/2003 5:07:23 PM

Wednesday, January 22, 2003 5:07:23 PM

For those looking for value in the Canadian oil and gas market have a look at HYE....TSX venture. Latest annual financials are due out shortly,company has 5.2 mil shares out is a producer of mainly gas,is cash flow positive and holds reserves of 3 mil BBLS. Market cap of 2.5 mil $. Truly an incredible value in todays market and possibly due to the fact the company does no promo and has no website,all data must be referenced at Sedar....previous annual financials based on 4.00 gas High Plains' net income increases 23% for the year
High Plains Energy Inc HYE
Shares issued 4,688,669 Mar 25 2002 close $ 0.53
Monday March 25 2002 News Release

Mr. Harold Bowman reports
HIGH PLAINS ENERGY INC.: CORPORATE UPDATE
High Plains Energy has provided the following excerpts from its 2001 annual report:
38-per-cent increase in cash flow to $973,337;
23-per-cent increase in net income to $773,128;
150-per-cent increase in capital expenditures to $1,762,487;
39,942 net has. Developed and undeveloped acreage in Canada and U.S.;
$3,017,294 property and equipment value after depreciation and amortization;
2.45 million barrels of oil equivalent proven and probable consolidated reserves (Canada and the United States);
$1.53 asset value per share (excludes proven non-producing and probable reserves); and
significant Jurassic Sawtooth gas test in Montana (4.1 million cubic feet per day).