Michael Smedley Deer Creek Energy Ltd. DCE-T HOLD May 25, 2005

Has room to move. Probably the only smaller company working in the oil sands that has no partnership set up. Would hold and wait for events.

Michael Smedley

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$13.490

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oil gas

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A project in the oil sands near Fort McMurray. It is a SAG (steam assisted gravity) deep project which is more difficult than the open mining. Have good sponsors. Would consider at a lower price.

BUY

If you are a believer in oil/gas and strong commodity prices, this is one way to play the oil sands. Higher risks as they are just in the process of developing.

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Michael Smedley Deer Creek Energy Ltd. DCE-T HOLD May 25, 2005

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Deer Creek Energy Ltd.(DCE-T)

Deer Creek Energy Ltd.(DCE-T)

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