SOURCE: Wall Street News Alert

May 04, 2005 08:32 ET

Wall Street News Alert: CALB Preparing to Drill Test Leduc Pinnacle Reef at Bolloque!

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by Wall Street Capital Funding.

WESTON, FL -- (MARKET WIRE) -- May 4, 2005 -- Wall Street News Alert's "stocks to watch" this morning are: Caliber Energy, Inc. (OTC BB: CALB), Tyco International Ltd. (NYSE: TYC), Sun Microsystems, Inc. (NASDAQ: SUNW) and JDS Uniphase (NASDAQ: JDSU).

Aggressive investors and traders may set their sights on Caliber Energy, Inc. (OTC BB: CALB) again this morning. Yesterday after the markets closed, the company issued a press release announcing that it is moving forward in making the necessary preparations for the spud of the first oil well at the Bolloque Project, Alberta Canada.

This could be great news for investors! According to the company's press release, it and the operator of the project, Transaction Oil and Gas Ventures of Calgary, have begun the well licensing, required permitting and have picked the well location. Site preparations will commence when the government road bans are lifted, anticipated to be shortly. Caliber is now locating a drilling rig for the project and expects to be drilling in 3 weeks.

Caliber has executed an Authority for Expenditure (A.F.E.) totaling $329,000 to drill, test and case the well. An additional $125,000 will be required to complete the well. Caliber is earning its 49% working interest by drilling, casing and completing an exploratory well on the leases.

Investors watch the progress of Caliber Energy! As earlier reported, the company commissioned a seismic review and interpretation on the Bolloque Project by an independent reservoir engineer and geophysicist that confirmed the presence of a Leduc Pinnacle Reef buildup under the Company leases. The seismic section shows a reef buildup of approximately 30 meters (98.5 feet). The reef has never been tested for oil at its highest development and Caliber will drill at this location to test for oil accumulation.

For more in-depth coverage of Caliber Energy, visit

Prior to yesterday's press release, the stock closed at around Twenty cents a share.

In case you are unfamiliar with the company: Caliber Energy, Inc. is primarily focused on developing advanced coal projects and other high potential business opportunities in the energy sector. The company is focusing on coal, oil and natural gas. Caliber's primary focus is on advancing coal projects to production, combined with the opportunities management has identified that would provide immediate cash flow and revenue by securing coal trade agreements. Caliber augments the coal projects with oil and gas opportunities that are low risk with a high rate of return. With this diverse portfolio, Caliber Energy minimizes risk as the company meets demand for fossil fuels.

Stocks showing interesting activity yesterday at the close of the regular trading day were: Tyco International Ltd. (NYSE: TYC) down 6.7% on 85.6 million shares traded, Sun Microsystems, Inc. (NASDAQ: SUNW) up 1.6% on 56.1 million shares traded and JDS Uniphase (NASDAQ: JDSU) down 3.4% on 26 million shares traded.


"In other economic news, job cuts for April by U.S. companies were the lowest since November of 2000 says a report by outplacement firm Challenger Grey & Christmas. The number of lay-offs fell 33% in April to 57,861. The unemployment rate of 5.2% is expected to remain the same," stated Sonja Rudd in Wall Street News Alert's daily commentary continued at:

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