Amadeus Energy (AMU)

Shares / Stock Code

AMU

Stock Exchange / Sharemarket

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Amadeus Energy (AMU) is an oil and gas explorer and producer based in Perth, Western Australia. The Company is focused on the acquisition and management of oil & gas producing assets in US and exploration in the US and Australia. AMU listed on the Australian Stock Exchange on 20 of March, 1997. The company has an ownership of long-life proven producing oil and gas fields and exploration acreage in the United States covering an area of more than 250,000 acres (110,000 hectares). In USA, Amadeus assets are mainly located in Texas, Kansas, Louisiana and Southern Oklahoma.

The AMU's principal activities incorporate the acquisition, operation and expansion of proven and probable onshore oil and gas reserves to enhance production and cash flow, as well as identifying and participating in exploration opportunities. The Company has been able to maintain a balanced debt/equity mix and small debt payback periods on acquirements, which has made it possible for it to reinvest up to 75% of net operating cash flow to increase and grow company assets.

AMU successfully drilled 25 wells in fiscal 2007. The interests in projects of AMU are of varying degrees. AMU has a 25%-50% interest in the Halletsville, Texas, at the low end and an 85% interest in White Eagle, Kansas at the high end. In FY06, its oil production increased up to 71% and gas by 264%. Revenues grow to 154% and operating cash flow to125%. The company’s field enhancement activities, timely acquisitions and exploration have resulted in the stable climbing production levels.

Amadeus Energy History

Amadeus Energy has developed a portfolio of cash generating assets with excellent prospective for enhancing production and cash flow. The drilling success rate of the company in 2006/2007 was above 90%. The Company's reserves differ from well to well, but usually 5-20BCFGE (BCF gas equivalent). Amadeus net assets per share (book value) have grown from 14 cents to 44 cents from 2003 to 2006.