CHAR'S PROPERTY AND PRODUCTION IS LOCATED IN THE COUNTRY OF KAZAKHSTAN- LOCATED ON THE CASPIAN SEA. THE FIELD'S NAME IS CALLED- "KARAKUDUCK".

AT PRESENT 38 MILLION SHARES FULLY DILUTED ARE OUTSTANDING. NLG.TO OWNS 60% OF CHAR. NLG.TO SHOWS RESERVES OF 434 MILLION BARRELS OF OIL IN PLACE AT KARAKUDUCK-YET THE TOTAL PROVED, DEVELOPED /UNDEVELOPED PROBABLE AND POSSIBLE RESERVES ONLY AMOUNTS TO SOME 89 MILLION BARRELS; A LARGE DISCREPANCY. CHAR OWNS 60% OF THIS FIELD. WHEN YOU CONSIDER PROVEN AND PROBABLE OF 62 MILLION BARRELS WHICH IS OWNED BY CHAR AND 26.5 MILLION POSSIBLE RESERVES WHICH IS 60% OWNED BY CHAR AND IF WE ASSIGN A VERY CONSERVATIVE PRICE/BARREL OF SAY $40.00- WE FORMULATE A RESULTING DOLLAR AMOUNT OF $2.14 BILLION. AT PRESENT THE MARKET CAP OF CHAR IS A MERE $88 MILLION!!!!!

THE UPSIDE LONG TERM POTENTIAL IS TRULY STAGGERING!!!

WE HAD A CONVERSATION WITH MR. FRED HODDER- SENIOR VP OF NLG.TO AND A MEMBER OF THE BOARD OF CHAR.OB.

THE OIL GRADE IS VERY HIGH WITH A API OF 43 AND LOW SULFUR, VERY COMPARABLE TO BRENT CRUDE. PRESENTLY GETTING ONLY $36/BARREL DUE TO BLENDING. ANTICIPATE WITHIN 6 MONTHS THE COMPANY WILL HAVE OWN SEPARATION EXPORT CHANNEL BY RAIL IN ORDER TO GET SPOT. ACCORDING TO MANAGEMENT PRODUCTION WILL BE RAMPED UP TO 12K-13K BY DEC 31, 2005 FROM THE MARCH 31, 2005 LEVEL OF 9K AND THE MONTH OF MAY PRODUCTION OF 11K. ACCORDING TO MANAGEMENT DURING 06 PRODUCTION WILL REACH 15K/DAY



Q1 NUMBERS 05 04

REV $24 MILLION $15.6 MILLION

INCOME/SH .10 .02

PRICE/BARREL $36 $21.65

AMOUNT/DAY 8661 BOPD 7760 BOPD
< BR>
YEAR END ACTUAL AND ESTIMATES

DEC 03A 04A 05E

REV $57 M $78 M $121 M

IN/SH .05 .22 .50



CHAR INTENDS SPENDING AN ADDITIONAL $46 MILLION DURING THE REMAINING MONTHS OF 05 ON CAPEX-THIS INCLUDES DRILLING OF 70 MORE WELLS BETWEEN 2005-2009.

THE ESTIMATED GROWTH RATE OVER 04 WILL COME IN @ 55%, WHILE THE EARNING GROWTH EXPLODES BY 127%!!!



CHAR IS LOCATED OUTSIDE OF THE USA SO WE WILL HAIRCUT THE PE VALUATION. WE STILL GRANT CHAR A PE VALUATION OF 15X 05 NUMBERS BECAUSE THE FUNDAMENTALS ARE SO COMPELLING! BASED UPON A PE OF 15--CHAR'S TARGET PRICE IS $7.50 WITHIN 9 MONTHS--THIS IS BEING VERY VERY CONSERVATIVE! IF YOU ARE A LITTLE MORE AGGRESSIVE ONE MIGHT ASSIGN A PE OF 20X, WHICH YIELDS A SHARE PRICE OF $10.00

WE CURRENTLY OWN 15K SHARES OF CHAR @ CURRENT LEVELS AND INTEND TO MONITOR CHAR FOR % GAIN PERFORMANCE. THE WEBSITE WWW.CHAPARRALRESOURCES.COM

KSWW (OTC-BB)--ANOTHER ATTRACTIVE BORING STOCK THAT COULD EXPLODE DURING THE NEXT 6 MONTHS

KSWW --INSTALLS HEATING, VENTILATING AND AIR CONDITIONING SYSTEMS AND PROCESS PIPING SYSTEMS FOR INSTITIONAL, INDUSTRIAL, COMMERCIAL HIGH RISE RESIDENTIAL AND PUBLIC WORKS.

Q 1 05 04

REV 10 MIL 6.4 MIL

IN/SH .03 (.12)



ONLY 5.4 MILLION SHARES OUTSTANDING.

CURRENT BACKLOG $60 MILLION VS $16 MILLION

MANAGEMENT ANTICIPATES REV OF $41 MILLION FOR 05 VS $26 MILLLION FOR 04. ESTIMATE OF .13 VS A LOSE OF (.24) FOR 04. CURRENTLY $2.7 MILLION IN CASH AND ZERO DEBT WITH A BK OF $1.27

AT PRESENT KSWW SPORTS AN EST. PSR OF .17, EST. PE OF 10 WITH A 71% GROWTH RATE--LOOKS LIKE A DOUBLE FROM CURRENT LEVELS WITH GOOD MARKET AND EXPANDING BUSINESS CLIMATE. WE CURRENTLY OWN 10K SHARES @ $1.2/SH

TRTI--(OTC-BB)- A CASH COW FOR THE PRICE OF CHICKEN!

BASICALLY, THIS SITUATION IS A SHELL CORP. THE PAST BUSINESS WAS A LANDFILL OPERATION, BUT THAT IS HISTORY!! THE COMPANY STILL HAS A FEW OUTSTANDING ISSUES (2) BUT 1 IS NEAR COMPLETION WHILE THE OTHER IS NOT A DEAL BRAKER !!

WE LIKE THIS SITUATION BECAUSE THE COMPANY OF 2.8 MILLION SHARES IS SITTING ON $4.7 MILLION IN CASH--(JUST RECEIVED $2.7 MILLION FROM INSURANCE--AFTER TAXES WE SEE $2 MILLION)- WHEN YOU ADD ON-HAND AND RECENT PRIZE YOU GET ALMOST $5 MILLION CLAMS! RECENTLY ANNOUNCED SALE OF PROPERTY WORTH ANOTHER $2 MILLION- DOWN PAYMENT OF $111K RECEIVED-- DEAL SHOULD CLOSE WITHIN MONTHS--THIS MONEY OFFSETS $2 MILLION OWED TO FED. THE DEBT TO THE FED IS OVER 10 YEARS WITH NO INTEREST!!

WHEN YOU CALCULATE THE CASH/SH YOU GET $1.62/SH AND A BOOK VALUE OF $1.33--THERE IS ALSO ADDITIONAL LAND FOR SALE IN SOUTH NEW JERSEY ( JERSEY DEVIL LIVES ON THE PARCEL).

AS MENTIONED: LIABILITIES ARE SOMETHING TO CONSIDER, BUT NOT A DEAL BRAKER!

A SIZABLE DIVIDEND OF SORTS COULD BE ISSUED-- THERE IS NOTHING IN THE BY-LAWS ACCORDING TO MANAGEMENT THAT PREVENTS A CASH DIV!

IN ADDITION TRTI.OB WOULD BE CONSIDERED A VALUABLE SHELL CORP THAT COULD ATTRACT IN OUR OPINION A $20-$30 MILLION DOLLAR PRIVATE ENTITY THAT WOULD LIKE TO CREATE A BUSINESS COMBO VIA A REVERSE MERGER.

ALL-IN-ALL FOR .40 YOU CAN BUY $1.60 IN CASH -- LOOKS TASTY!!

A CASH COW TRADING @ CHICKEN LEG PRICES!



LUCENT TECH (LU), (LUTHW)

THE COMMON @ $2.88 AND THE WARRANTS @ .71 (EXPIRE DEC 10 2007--ROUGHLY 31 MONTHS FROM NOW). GREAT LEVERAGE WITH THIS ONE. IF YOU LIKE LU AND BELIEVE THAT EARNINGS ARE EXPANDING AND THAT LU SHARES WILL BE HIGHER WITHIN THE NEXT 31 MONTHS- YOU NEED TO CONSIDER LUTHW. THE EXERCISE PRICE IS $2.75-- ALREADY IN THE MONEY BY .13 WITH A TIME PREMIUM OF .59. AT PRESENT LU HAS EST. OF EARNINGS OF .17 AND .20 FOR 05 AND 06 RESPECTIVELY--IF THIS EXPANDS OR PE'S EXPANDS OR WALL STREET DECIDES THAT LU IS CHEAP WITHIN THE NEXT 31 MONTHS LUTHW COULD EXPLODE!--CONSIDER THIS: AT PRESENT LU IS TRADING @$2.88 & IF LU MOVES UP TO 5.00 DURING THIS TIME PERIOD-LU WOULD APPRECIATE 73%--IF THIS HAPPENS THE WARRANTS MUST TRADE @ $2.25, WHICH WOULD RESULT IN A 217% APPRECIATION!!! GET MY DRIFT!!! WARRANTS ARE NON-CALLABLE AND OFFER INVESTORS GREAT LEVERAGE AND HUGE UPSIDE POTENTIAL! IF LU DROPPED OFCOURSE TO $2 BY 07 THEN OF COURSE YOUR WARRANTS WOULD BE WORTHLESS UNLESS EXTENDED. WE SEE LITTLE RISK IN THIS SCENARIO!! LU HAS ALSO BEEN RUMORED AS A TAKEOVER CANDIDATE--WE COULD WIN BIG IF THAT SCENARIO DEVELOPED!!

WE LIKE THIS DEAL AND CURRENTLY OWN 30K.

William Velmer

Job Title

phone: 9499229986

William Velmer

Job Title

phone: 9499229986