Apex Reports on News of Investing Visionary Warren Buffet Buying PacifiCorp for U.S. $5.1 Billion; Buffet Captures Huge Potential of Energy Market.SALT LAKE CITY -- Apex Resources Group Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: APXR), today reported on news that Wall Street mogul Mogul: see Mughal. , Warren Buffet, has finally found "Finally Found" was the debut single from the Honeyz. This was their most successful single in the UK and worldwide, securing a number 4 position in the UK singles chart and achieved platinum status in Australia [1] Tracklisting # Title Length a way to spend some of Berkshire Hathaway's $46.7 billion in cash - the acquisition of PacifiCorp through its subsidiary MidAmerican. (Source: MSN (1) (MicroSoft Network) A family of Internet-based services from Microsoft, which includes a search engine, e-mail (Hotmail), instant messaging (Windows Live Messaging) and a general-purpose portal with news, information and shopping (MSN Directory). Money). Buffet stated that there is more and more demand for electricity in the six states where PacifiCorp operates. Additionally, he watched mass consolidation in the industry and was ready, willing and more than able to take advantage of any opportunity he deemed "undervalued Undervalued A stock or other security that is trading below its true value. Notes: The difficulty is knowing what the "true" value actually is. Analysts will usually recommend an undervalued stock with a strong buy rating. " due to the Enron debacle, and capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. it. Clearly the call is for MORE POWER and Buffet, in his infinite wisdom and his "moves" clearly being a precursor of things to come, knows the energy crisis is in high throttle throttle Valve for regulating the supply of a fluid (as steam) to an engine, especially the valve controlling the volume of vaporized fuel delivered to the cylinders of an internal-combustion engine. In an automobile engine, gasoline is held in a chamber above the carburetor. . "Warren Buffet had the foresight to take approximately 10% of Berkshire's cash and invest it in the energy sector," stated John M. Hickey, Director. Clearly a trend-setter, Buffet took an opportune op·por·tune adj. 1. Suited or right for a particular purpose: an opportune place to make camp. 2. Occurring at a fitting or advantageous time: an opportune arrival. investment and capitalized on it. Buffet looked "west" - Apex is "north" and sitting on what is, in the eyes of the U.S. government, regulatory agencies regulatory agency Independent government commission charged by the legislature with setting and enforcing standards for specific industries in the private sector. The concept was invented by the U.S. and world leaders For a list of heads of state, see . World leaders is a MMORPG. The game involves creating a state, joining an alliance and going into war. It is mostly played by players from Israel, China, USA, Britain, Brazil and Saudi-Arabia. , the only viable source of domestic fuel that would allow dependence on foreign markets to dwindle dwin·dle v. dwin·dled, dwin·dling, dwin·dles v.intr. To become gradually less until little remains. v.tr. To cause to dwindle. See Synonyms at decrease. . We are more than honored to be of like minds with Mr. Buffet in understanding the magnitude of the power crisis!", Hickey concluded. About Apex In June 1997, Apex Resources Group purchased a 3.745% working interest in the 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. Area known as the Itiyok 1-27 Well, which was drilled in 1983. A review of the well data and geological prognosis 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 working interest net reserves of 4.04 Bscf and 336 MSTB. Seismic data indicates a structure closure of approximately 40 square KM with a gross potential reserve of 1.16 TCF See Trenton Computer Festival. and 160 MMSTB MMSTB Million Stock Tank Barrels (working interest net - 34 Bscf and 4.7 MMSTB). The lands in which the Apex Resources Group Inc. owns an interest comprise of 21.54 square KM containing gross potential reserves of 625 Bscf of gas and 86 MMSTB of oil (working interest 23.4 Bscf of gas and 3.2 MMSTB of oil).
Name/SDL
Grid Area
(Degrees Section
- Min) Rights Hectares Ownership Percentage%
--------- ---------- ------- -------------------------- --------------
Itiyok I-
27/SDL- Imperial Oil Resources
055 2072 Ventures Ltd. 58.673120
--------- ---------- ------- -------------------------- --------------
70-00 N 7,8,17,18, Devon ARL Corporation 14.720000
--------- ---------- ------- -------------------------- --------------
134-00 W 27,28,37 Petro-Canada 14.200000
--------- ---------- ------- -------------------------- --------------
All P&NG Apex Resources Group Inc. 3.745000
--------- ---------- ------- -------------------------- --------------
Conocophillips Canada
Resources Cor. 3.003000
--------- ---------- ------- -------------------------- --------------
Canalands Resources 2.255734
--------- ---------- ------- -------------------------- --------------
Canadian Natural Resources
Ltd. 1.234450
--------- ---------- ------- -------------------------- --------------
Canadian Forest Oil Ltd. 1.084348
--------- ---------- ------- -------------------------- --------------
677862 Alberta Ltd. 1.084348
--------- ---------- ------- -------------------------- --------------
Total 100.0
--------- ---------- ------- -------------------------- --------------
With oil at approximately US$50.00 per barrel and gas close to US$7.00 per cubic feet, Apex' interest in proven probable and possible gas and oil reserves is powerful.
Itiyok 1-27
Part 1 - Proven Gas & Oil Reserves: (640 acre area)
---------------------------------------------------
Total:
- A) 108 Bscf- Gas
B) 8.976 MM STB - Oil
Apex Working Interest - (3.745%)
--------------------------------
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)
US$47.77 Million (Gas&Oil)
Part 2 - Probable Gas & Oil Reserves: (40KM(2))
-----------------------------------------------
Total:
A)1.16 TCF - Gas
B) 160 MM STB - Oil
Apex Working Interest - (3.745%)
--------------------------------
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)
US$505. Million (Gas & Oil)
Part 3 - Possible Gas & Oil Reserves: (21.54 KM(2))
---------------------------------------------------
Total:
A) 625 Bscf - Gas
B) 86 MM STB - Oil
Apex Working Interest - (3.745%)
--------------------------------
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)
US$345.65 Million(Gas & Oil)
----------------------------------------------------------------
Total of All 3 US $898.42 Million (Gas & Oil)
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.
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
email: cdemonte@aol.com
www.demonte.com
www.ApexResourcesGroup.com
John M. Hickey
Director
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