Joanne A. Hruska, CFA Fairmount Energy Inc. FMT-X PAST TOP PICK Dec 05, 2007

(A Past Top Pick Aug 24/07. Down 19%.) Had a couple of really good discoveries in August in the Gold Creek area. They are deep/expensive wells, but good potential for large wells. She is not selling her holdings.

Joanne A. Hruska, CFA

Owned

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$1.190

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oil gas

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TOP PICK

Their key asset is in Gold Creek. Company production is about 400 barrels a day. One of their tests last year was over 1000 barrels. Will start drawing some more wells in September. Trading at just under 3X cash flow. Asset value per share is $2.50.

PAST TOP PICK

(A Top Pick Aug 24/07. Down 29%.) Drilling in Gold Creek Alberta with bigger and more expensive wells. Had a tough time raising money but think they have solved it now. Sold her holdings.

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Joanne A. Hruska, CFA Fairmount Energy Inc. FMT-X PAST TOP PICK Dec 05, 2007

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Fairmount Energy Inc.(FMT-X)

Fairmount Energy Inc.(FMT-X)

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