|

|
Annapolis principals’ involvement |
Peter Williams – director
Jody Forsyth – corporate secretary |
| timeline |
October 2001 to January 2004 |
| listing status |
private |
| commodity focus |
natural gas |
| geographic focus |
southeast Alberta & western Saskatchewan |
| initial third party issue price |
$1.00 per share |
| sale price |
$3.65 per share |
| capitalization (at time of sale) |
$115 million |
| multiple of return |
3.65X |
| compounded rate of return (annual) |
78% |
|