Mr. Lionel Conn reports

Due to recent activity in Tudor Corp. Ltd., the company has been asked by the Investment Industry Regulatory Organization of Canada (IIROC) to comment on the volume and price increase. Although the company has met with many agents requesting data on Tudor, there have been no material changes in the company affairs and Tudor believes that all parties are waiting for natural gas prices to increase so that Tudor can turn on its shut-in wells.

It must be that interested parties believe that gas prices will increase soon and realize that Tudor can turn on the majority of its natural gas wells and have an increased cash flow.

Tudor also has an approximately $8-million tax write-off that some companies can use and approximately 100 free drilling locations next to its own existing wells.