Stock Profile: Diaz Resources Symbol: DZR.A, DZR.B (TSE)

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Stats as of 6/15/01

• H/L Ratio: 2.45 • RS: 97.6 • Shares: 31,504,520 • P/E: 4.38 • Price: $0.70

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Diaz Resources is a junior natural gas exploration and production company with operations in Alberta, Saskatchewan and Texas.

In 1998 the company shifted focus from high risk exploration to acquisitions and focused exploration. The strategy has paid off. 2000 was banner year for the company as it successfully drilled 36 new gas wells and two oil wells. It also acquired 2 Bcf of gas reserves in Texas.

The company had 4.1 million barrels of oil equivalent reserves at the end of 2000 with an estimated value of $45.8 million as well as 74,000 acres of undeveloped land. With 37.7 million class A and B shares outstanding, and accounting for value of land and outstanding debt, the market cap of the company is considerably under the net asset value of the company. ($1.07 a share NAV versus $0.70 a share on June 15, 2001). This does not take into consideration the 21 new gas wells added since January 1st. The stock trades at a P/E of only 4.38, low even for the oil industry.

Diaz moved from the Canadian Venture to the Toronto Stock Exchange on June 14th giving it much broader investor exposure. It's a buy in my books!

Quarterly Earnings per Share

Annual Earnings per Share