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Etoco maintains a small team of experienced,
multi-disciplined employees with strong engineering, technical and operational backgrounds
supported by state-of-the-art technologies and management information systems. Etoco has
focused upon, and intends to continue to develop, a portfolio of operated
high-working-interest oil and gas properties located in the Texas Gulf Coast Region,
Louisiana, Mississippi, and Colorado that
will generate cash and consistently earn above average returns on capital employed.

2005 Highlights
- For the fiscal year end June 30, the
Company's gross revenue increased from $27.8 million to 2003 to $41.7
million in 2004 and should exceed $60 million in 2005.
- The Company spends a large percentage of
its budget for leasehold acquisitions and for drilling, completing and
producing wells. Only about six percent of its gross revenue is
spent for general and administrative costs.
- In 2004, the Company's total current
assets exceed its total current liabilities by about $2.3 million,
including a bank loan of $2.8 million.

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