Apex Announces Divisional Update.SALT LAKE CITY -- Apex Resources Group Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: APXR), today reports an update of the Land and Petroleum Divisions. Apex Land Division Update In 2004 Apex signed Purchase Agreements for two recreational lots at Cowichan Lake Cowichan Lake is located on southern Vancouver Island, British Columbia. It is located 30 km west of Duncan, British Columbia along the Cowichan Valley. The lake itself is 30 km long. It is surrounded by several communities. , in South Central Vancouver Island Vancouver Island (1991 pop. 579,921), 12,408 sq mi (32,137 sq km), SW British Columbia, Canada, in the Pacific Ocean; largest island off W North America. It is c.285 mi (460 km) long and c. , British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography . These prime view properties are located at Upper Point Ideal Road. The lots are CA$125,000 for Lot 4 and CA$120,000 for Lot 2. Lot 2 is .81 acres in area and Lot 4 is 1.05 acres in area. The Agreements were for CA$10,000.00 deposit on signing. The closing date for Lot 2 was March 15, 2005 at a cost of $42,165.06. The closing on Lot 4 was on January 21, 2005 and a further payment of CA$39,015.44 was made that included CA$30,000.00 balance of down payment and CA$9,015.44 for Title Transfer, Goods and Services Tax The Goods and Services Tax is a Value-added tax that exists in a number of countries. Please see:
This purchase is in addition to the large acreage ocean front lots with houses that Apex owns at the Abbecombec Ocean Village Resort on the shores of Clam clam, common name for certain bivalve mollusks, especially for marine species that live buried in mud or sand and have valves (the two pieces of the shell) of equal size. Bay, 40 miles east of Halifax. Also, Apex properties include 40 acres of land at Woodland Valley Ranch in Apache County, Arizona Apache County is located in the northeast corner of the U.S. state of Arizona. As of the 2000 census its population was 69,423. The county seat is St. Johns. Geography and 75 acres of land at Elk Valley Elk Valley is a valley in southeastern British Columbia that runs via the basin of the Elk River from the southeastern Alberta border near Kananaskis to the Rocky Mountain Trench. Ranch which is also located in Apache County, Arizona. Apex Land Division will continue to search for value added Value Added The enhancement a company gives its product or service before offering the product to customers. Notes: This can either increase the products price or value. properties for investment purposes. MacKenzie Valley Update - Beaufort Sea Beaufort Sea (bō`fərt), part of the Arctic Ocean, N of Alaska and Canada, between Point Barrow, Alaska, and the Canadian Arctic Archipelago. The Mackenzie River flows into the sea, which is always covered with pack ice. Calgary-based Northrock Resources Ltd. the project operator, stated that drilling results after a winter's worth of testing at its joint venture are encouraging. Their B-44 Well that initially demonstrated flow rates in excess of 3,000 barrels a day additionally produced natural gas at a rate of 10 million cubic feet a day plus another 1,000 barrels a day of water. The president of Northrock Resources Ltd. was quoted in the National Post - "We need the Mackenzie Valley" (gas pipeline to be built) - he stated of the US$7 billion project that will transport natural gas. Dave (Tiger) Williams, President of Pacific Rodera Energy Inc. an oil and natural gas explorer company, which has a 7% interest in the Well, stated he was "tickled pink Inside TV Land: Tickled Pink, an hour-long special which aired multiple times during July, 2006, chronicled television shows that homosexuals have identified with over the years. " about the encouraging test well results, as reported in the Financial Post last week. "Speculation concerning the validity of the huge oil and gas potential in the MacKenzie Valley has become a long-awaited reality," stated John M. Hickey, Director of Apex Resources. "The overwhelming amount of gas and oil from just one Well further demonstrated the urgent need for a pipeline as Companies increase drilling in the North. One Well alone produces enough pressure from the depths to push up water oil and gas to the surface. All three components oil/gas & water come up together out of the same Well they are separated on the surface by a gravity separation method. Therefore, it is difficult to produce the oil without having a pipeline to export the gas. That is why the Mackenzie Valley pipeline This article or section contains information about a planned or expected pipeline. It may contain information of a speculative nature and the content may change dramatically as the construction and/or completion of the pipeline approaches, and more information becomes available. is so important. This "find" makes Apex' investment all the more valuable as oil and gas prices continue to climb. Domestic oil and gas now possesses, with certainty, the potential to become the "energy provider" for the continent!" Hickey concluded. Apex (ARCTIC) Citadel Engineering Report Citadel Engineering Ltd. has reviewed the reserve base displayed in the Beaufort Sea Well Esso Pex Home et al Itiyok I-27. Citadel has appraised an undivided UNDIVIDED. That which is held by the same title by two or more persons, whether their rights are equal, as to value or quantity, or unequal. 2. Tenants in common, joint-tenants, and partners, hold an undivided right in their respective properties, until 3.745 percent working interest herein. Apex holds a 3.745 percent interest in Canadian Federal lands covered by "Significant Discovery License No.55 dated April 22, 1987", Latitude latitude, angular distance of any point on the surface of the earth north or south of the equator. The equator is latitude 0°, and the North Pole and South Pole are latitudes 90°N and 90°S, respectively. 70(degree)00' Longitude longitude (lŏn`jĭt  d'), angular distance on the earth's surface measured along any latitude line such as the equator east or west of the prime meridian. 134(degree)00', Sections
7,8,17,18,27,28 and 37.During 1982 and early 1983, a consortium of companies participated in the drilling, casing testing of the Well Esso PEX Home et al Itiyok I-27 in the Beaufort Sea, Canada. Itiyok commenced drilling November 5, 1982 reaching a total depth of 12,890 feet K.B. February 15, 1983. Subsequent to setting casing, seventeen (17) through-casing drill stem tests In oil and natural gas extraction, the drill stem includes the drill pipe, drill collars, bottomhole assembly, and drill bit. A drill stem test (DST) is a procedure for testing the surrounding geological formation through the drill pipe. and two (2) wireline tests were conducted over eleven (11) zones between the depths of 4,821 feet K.B. and 7,703 feet K.B. The zones of greatest interest are summarized as follows:
Test Interval Test Duration Estimated
Feet K.B. Fluid Type Hours Daily Rate
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4821-4854 Gas 2.6 22.1 MMscf
5269-5289 Gas 0.33 16.7 MMscf
5643-5652 & 5675-5688 Gas 3.2 10.7 MMscf
5939-5967 Oil - 23(degree) API 16.1 2,096 STBO
6431-6454 Oil - 21(degree) API 1150 STBO
Gas 18.8 7.4 MMscf
7696-7702 Oil - 22(degree) API 2,498 STBO
Gas 21.1 4.4 MMscf
The consortium of companies participating in the exploration program encompassing the Itiyok Well have appraised several potential commercial structures both onshore and offshore. Thus, delineation drilling is not currently scheduled for the Itiyok structure. At present, Gulf's development of its Amauligak field will ultimately impact on future Itiyok development. The two (2) fields will be able to justify the expense of a gathering and transportation system. A review of the well data and geological prognosis prognosis /prog·no·sis/ (prog-no´sis) a forecast of the probable course and outcome of a disorder.prognos´tic prog·no·sis n. pl. prog·no·ses 1. indicates that a 640 acre area would contain proven recoverable gas reserves of 108 Bscf and proven recoverable oil reserves Oil reserves refer to portions of oil in place that are claimed to be recoverable under economic constraints. Oil in the ground is not a "reserve" unless it is claimed to be economically recoverable, since as the oil is extracted, the cost of recovery increases incrementally of 8,976 MSTB MSTB Multipurpose Science & Technology Building MSTB Malaysian Software Testing Board (Apex working interest net reserves of 4.04 Bscf and 336 MSTB). Seismic data indicates a structure closure of approximately 40 Km(2) with gross potential reserve of 1.16 TCF See Trenton Computer Festival. and 160 MMSTB MMSTB Million Stock Tank Barrels (Apex working interest net - 34 Bscf and 4.7 MMSTB). However, as noted above, no immediate plans have been formulated to perform further operations and thus, it is not possible to prepare an economic appraisal This article is about economic appraisal. For other uses, see Appraisal. Appraisal is the act of estimating the monetary value of real property, personal property, or intangible property, usually performed as a service by someone recognized as an expert or of the reserves delineated de·lin·e·ate tr.v. de·lin·e·at·ed, de·lin·e·at·ing, de·lin·e·ates 1. To draw or trace the outline of; sketch out. 2. To represent pictorially; depict. 3. to date. The lands in which Apex owns an interest comprise 21.54 Km(2) containing gross potential reserves of 625 Bscf of gas and 86 MMSTB of oil (Apex working interest 23.4 Bscf of gas and 3.2 MMSTB of oil.) APEX (ARCTIC) GAS & OIL RESERVES SUMMARY: The 3.745% working interest in the Itiyok 1-27 Well in the Beaufort Sea, which was drilled in 1983 and purchased by Apex in June 1997, as reviewed by Citadel Engineering indicates the following at current Gas & Oil Prices:
Part 1 - Proven Gas & Oil Reserves: (640 acre area)
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Total: - A) 108 Bscf- Gas
B) 8.976 MM STB - Oil
Apex Working Interest - (3.745%)
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A) 4.04 Bscf - Gas @US$7.25/ft(3) = US $29.29 Million (Gas)
B) 336,000 STB - Oil @US$55.00/B = US $18.480 Million (Oil)
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US$47.77 Million (Gas&Oil)
Part 2 - Probable Gas & Oil Reserves: (40KM(2))
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Total: - A) 1.16 TCF - Gas
B) 160 MM STB - Oil
Apex Working Interest - (3.745%)
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A) 34 Bscf - Gas @ US$7.25/ ft(3) = US $246.5 Million (Gas)
B) 4.7 MM STB - Oil @ US55.00/B = US $258.5 Million (Oil)
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US$505. Million (Gas & Oil)
Part 3 - Possible Gas & Oil Reserves: (21.54 KM(2))
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Total: - A) 625 Bscf - Gas
B) 86 MM STB - Oil
Apex Working Interest - (3.745%)
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A) 23.4 Bscf - Gas @US$7.25/ft(3) = US$169.65 Million (Gas)
B) 3.2 MM STB - Oil @US55.00/B = US$176. Million (Oil)
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US$345.65 Million(Gas & Oil)
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Total of All 3 US $898.42 Million (Gas & Oil)
Apex Petroleum Division Texas Update
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PB Energy Partners, has notified all participants that following
an acid wash of the horizontal portion of the Henry Dome #1 Well a
further flow test will be done in anticipation of their being an
increase of the daily flow of gas. With gas prices over $7.00 per
thousand cubic feet and the life expectancy of the Well at least 6
years, this is a significant find for Apex.
"With the recent developments of the JB Henry & the progress of
the land holdings in addition to Apex' stake in the major Beaufort
Sea oil play, Apex is poised for significant financial growth
corporately & consequently as an investment opportunity", stated
John M. Hickey, Director.
By the Board of Directors,
APEX RESOURCES GROUP INC.
Investor Relations: Cynthia DeMonte/DeMonte Associates
575 Madison Avenue - Suite 1006
New York, New York 10022
Tel: 212-605-0525
e-mail: cdemonte@aol.com
www.demonte.com
www.ApexResourcesGroup.com
John M. Hickey
Director
The foregoing contains forward looking statements. For this purpose any statements contained in this document that are not statements of historical fact may be deemed to be forward looking statements. Without limiting the foregoing, such words a "may", "will", "believes", "anticipates", "estimates", "continue", or comparable terminology intends to identify forward looking statements. These statements by their nature involve substantial risks and uncertainties and actual results may differ materially depending upon a variety of factors, including, but not limited to, the successful negotiation and execution of the definitive acquisition agreement and receipt of certain exhibits and schedules requested by Apex Resources Group Inc. |
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