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Michael SmedleyEastCoast Energy (B)ECE.B.VTOP PICKNov 22, 2006

Have discovered a great natural gas field off the coast of Tanzania. The country desperately needs supplies of gas. Very thinly traded.

Michael Smedley

Owned

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$10.23

Stock price when the opinion was issued

oilgas

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DON'T BUY

Had assets offshore Nova Scotia. Drilling has been tough with a number of dry holes. High-risk/high reward.

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Has great, long-term, steady Eddie potential. Well managed and starting to get the gas contracts. It is one you don't have to worry about except for the horrible liquidity.

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Michael SmedleyEastCoast Energy (B)ECE.B.VTOP PICKNov 22, 2006

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EastCoast Energy (B)(ECE.B.V)

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