Vault Energy Trust
TSX : VNG.UN

Vault Energy Trust

January 11, 2005 06:00 ET

Chamaelo Energy Inc.: 2005 Corporate Guidance


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: CHAMAELO ENERGY INC.

TSX SYMBOL: CLO

JANUARY 11, 2005 - 06:00 ET

Chamaelo Energy Inc.: 2005 Corporate Guidance

CALGARY, ALBERTA--(CCNMatthews - Jan. 11, 2005) - CHAMAELO ENERGY INC.
(TSX:CLO) ("Chamaelo") is pleased to announce its 2005 Guidance as
tabled below:

2005 Corporate Guidance

The information tabled below represents Chamaelo's 2005 Guidance based
on Management's best estimates and the assumptions as noted.



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Estimated average production:
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Light Oil (bbls/d) 1,500 42%
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Natural Gas (mcf/d) 12,600 58%
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Oil Equivalent (boe/d) 3,600
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Revenue ($ thousands) 52,400
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Cash flow from operations ($ thousands) 28,000
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$ per share (basic) 1.00
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$ per share (diluted) 0.96
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Capital Expenditures ($ thousands) 28,200
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Average Debt ($ thousands) 14,000
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Assumptions:
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Oil (WTI - $US/bbl) 38.00
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Natural gas (AECO - $Cdn/mcf) 6.25
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Foreign Exchange ($Cdn/$US) 0.81
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Cash flow sensitivities: $ $ / share
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WTI +/- $1.00 US / bbl 570,000 0.020
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AECO +/- $0.10 Cdn / mcf 349,000 0.012
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FX +/- $0.01 Cdn 265,000 0.009
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Chamaelo is well positioned for growth in 2005 and has maintained a low
debt to cash flow ratio ( less than 0.50) to allow for potential
acquisitions and/or increases to drilling expenditures.

Based on the guidance provided above, we estimate production will
increase from its current rate of 3,200 boepd to over 4,000 boepd by the
fourth quarter of 2005.

FORWARD LOOKING STATEMENTS

This Press Release may contain forward-looking information that involve
a number of risks and uncertainties that could cause actual results to
differ materially from those anticipated. For this purpose, any
statements herein that are not statements of historical fact may be
deemed to be forward-looking statements. Such risks and uncertainties
include, but are not limited to: risks associated with the oil and gas
industry (e.g. - operational risks in exploration, development and
production; changes and/or delays in the development of capital assets;
uncertainty of reserve estimates; uncertainty of estimates and
projections relating to production and costs; commodity price
fluctuations; environmental risks; and industry competition).


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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Chamaelo Energy Inc.
    Robert J. Zakresky, CA
    President & CEO
    (403) 232-8575 ext. 226
    or
    Chamaelo Energy Inc.
    Robert T. Jepson, BBA, PLM
    Executive Vice President
    (403) 232-8575 ext. 225
    or
    Chamaelo Energy Inc.
    Suite 700, 639 - 5th Avenue S.W.
    Calgary, Alberta T2P 0M9
    (403) 232-8575
    (403) 264-0061 (FAX)
    www.chamaelo.ca