i met Allen Barry in Yellowknife many years ago and we also met at the PDAC.

to all ROF investors: feel free to call him and talk about Mcfaulds... he is very open and will get back to voice messages.

also tell me what you think of his take on the commodities market :)))

cheers ....danny

ALLAN BARRY REPORT ON

COMMODITIES & RESOURCE STOCKS

23rd EDITION

March 31, 2009

Welcome to the 23rd edition of our report. At the recent PDAC 2009 conference in Toronto , the editor of this report had the distinct pleasure of being one of the guest speakers and had the opportunity to discuss commodities and resource stocks as well as our website, blog, radio show and reports. This is the largest mining conference in the world and it was very well attended. Several of our readers came by and it was gratifying to meet them in person and answer their questions; we always appreciate the chance to speak with those that read our reports, listen to our on-line radio show or visit our website.

When preparing for this conference it was apparent the subjects in our presentation for PDAC 2009 would be ideal topics for this edition. We will open this report with the issues we raised at the PDAC 2009 conference; then we have some companies to discuss and finally, we close with our commodities commentary.

The talk was broken into three subtopics: we opened with long term trends that put things into context and followed that with recent trends and then upcoming trends.

On the long term trends we opened with a topic we have discussed many times in the past reports and more recently on our new radio show. Namely, the chronic under investment in the supply chains of commodities with not nearly enough investment in exploration, development and production. In our opinion, this long period of under investment will play a role for decades into the future.

Another long term trend we talked about is the similarities between the Peak Oil Theory and Peak Gold and that other commodities also have similar characteristics. When Dr. Hubbert talked about Peak Oil he was not making the argument that the world was going to run out of oil anytime soon. He was talking about production reaching a peak and then going into long term decline as it gets progressively more difficult to replace reserves with new production.

Gold is actually a very good example of this situation. In the last year or so gold has reached $1000.00 per ounce a couple times and yet as prices reached these highs, instead of mining companies producing more, production actually declined. And it goes back to the point that the industry is finding it difficult to replace what is being mined each year.

The perfect storm of a weakened supply chain and a surge in demand came together in 2001 and started the greatest commodity bull-run of all time. Key aspects of this perfect storm were the previous two decades of under investment in exploration, development and production of almost all commodities that weakened the supply chains. Then strong demand from developed and emerging economies overwhelmed the supply and drove prices higher – in many cases to record highs.

No matter what the recent market gyrations are, or commentary in the media suggests, in the future China and India as well as other emerging economies will need commodities and they are an important source of future demand. Another critically important source of demand for commodities is America and we cautioned those betting against Corporate America to be careful.

Anybody betting against corporate America throughout the 1900’s lost badly and we would caution those considering betting against corporate America in the long term. Don’t let short term trends obscure the long term reality. Yes there can be severe short term economic and stock market corrections but long term America ’s role in the global economy will continue to be very important. They will continue to be one of the world economic leaders. On the other side of the correction and economic slowdown is the next economic expansion and bull market for stocks.

We mentioned that not much has changed for long term supply chains of commodities. If anything it’s getting weaker. Then we mentioned that a weak supply chain plus a demand surge equals higher prices. The last time this perfect storm developed was 2001 and that led to the greatest commodity bull market of all time.

Then we moved onto recent trends and mentioned all the cutbacks we have been seeing of late. With the industry wide cutbacks in exploration, development and production of all commodities further weakening the supply chains, this is creating great opportunities.

One of the key distinctions we try to determine when considering a company for this report or to discuss on the radio show is whether they are in survive or thrive mode. Those drilling or advancing projects toward future production have distinct advantages and have an opportunity to stand out from the crowd. We are avoiding “survival mode” companies and focusing on “thrive modes” companies for our print report and radio show.

Due to the extreme market volatility over the last six months, investors have been highly risk averse toward stocks in general regardless of the industry. Nonetheless, capital is available, as we have seen many companies in the last few months raise a lot of funds for exploration and development. Funds are flowing in a big way toward precious metals stocks with projects in mining friendly countries that have returned significant drilling results or are at advanced stages of development.

Recently investors have been pouring money into the US Dollar, Treasuries and Gold which has led to a lot of cash parked in these assets. Treasuries are looking stretched with very low yields but there are probably some opportunities in corporate bonds. US Dollar fundamentals are not good because they are printing cash likes it’s going out of style to fund the economic stimulus plans and these efforts suggest downside risk is high for the US Dollar. When investors gain confidence and start looking for higher returns, stocks in general will benefit as will gold and other commodities.

Then we moved onto talking about upcoming trends and one of the key points we made is that 2009 is looking a lot like the period just prior to 2001.

Our focus is on companies with high quality projects, not stock plays, and one good thing coming out of the recent market is that the stock play days are behind us. Momentum stock plays are much less important than serious companies focused on growing into bigger companies regardless of what industry but definitely in resource stocks. Quality will get the premium in the future.

Not only is the long term supply chain for commodities weak, the short term supply chain is weakening rapidly. The next demand surge will be what starts the next bullish trend for commodities. Those calling for the death of the commodity bull are out of touch with the fundamental reality of supply and demand.

Finding new deposits are hard enough and there is no need to make things harder by looking for them in countries that aren’t mining friendly. In the future, premiums look to go to projects in well known regions in mining friendly countries. This has always been what the Allan Barry Reports are focused on and the future looks like the market will be more focused on these issues as well.

America and other developed economies need to spend money on aging infrastructure as well as on future infrastructure needs. Networks of roads and highways as well as the power grid are in need of serious investment and that is very important for commodity demand. In addition, emerging economies have many years of growth ahead to catch up to all the material goods we have in developed economies. Without a doubt in the future they will have all the amenities we enjoy, and that will require commodities to get there.

Before we took questions from the audience, in a joking sense we borrowed a phrase from the great philosopher Yogi Berra who said, “It’s like déjà vu all over again”. Going forward, 2009 and beyond is shaping up to be much like the post 2001 commodity bull run.

After taking questions we left with these comments: “The perfect storm of a weak supply chain for commodities and a big surge in demand due to economic stimulus plans is brewing. Going forward, 2009 and beyond is shaping up to be much like post 2001 when the greatest commodity bull-run of all time got underway. Gold is leading the way and other commodities are primed to join the party.”

Some of Our Treasure Hunters

In the last few editions of the report we’ve added several precious metals companies to the group we follow. Our primary reason was due to our view that in the last six months when gold was dramatically oversold, we believed it would rally and get into a strong trend. This was indeed what happened and is bullish for precious metals.

We still feel that the trend for precious metals is in a long term bullish trend and that in the near term, the US Dollar is overvalued; when it starts correcting this will be very bullish for precious metals. And it will be very bullish for several other commodities that we follow as well.

One of the key base metals we follow is copper as it is not only a great indicator of economic growth but it is also a leader in the base metal market. Later in the report, in the commodities commentary, we will discuss our bullish opinions on copper and other metals. Copper has gone through a bottoming trend in the last few months and has broken out of its trading range and is heading toward a bullish trend.

Due to our bullish view for precious metals we have two new additions to our group of featured companies in this edition of the report and we feel they complement our overall group. And we have a new copper company to add in this edition and will also discuss some of our past copper company picks as we think they have solid projects and are well positioned to participate in the stronger trend we see in the near term for copper.

Later in the report we will present the roster of featured companies from past reports. If you would like to research the group from past reports we have a directory on our website where you can find a list of all the companies from our past reports with links to their websites. Many of these companies have had very good news since we started our on-line radio show where we have discussed their news. On our blog we have a list of subjects discussed on the radio show and which companies were discussed to help you find the ones you would like to listen to.

We are big believers in investors doing their homework to research and understand the fundamentals of companies they are invested in or considering investing in. With our reports, website, directory, blog and radio show we feel we have an outstanding group of tools to help you research commodities and resource stocks.

Some new additions:

Capstone Mining Corp.

Capstone is a company we have been following and discussing on our on-line radio show due to their various projects as well as the recent merger with Sherwood Copper. The merger of these two companies has combined a very attractive group of projects primarily focused on copper. We are not shareholders of the company.

They have two operating copper mines including the Cozamin Mine in Mexico and the Minto Mine in Yukon , Canada . Of particular note about these two mines is they are high-grade low cost producers. Another interesting asset for the company is they have entered into an agreement that would see them exchange their large shareholding in Silverstone Resources into close to 4.95 million shares in Silver Wheaton Corporation. This transaction, if completed, will give them a large shareholding in a silver focused company with a lot of growth prospects from their world class projects.

All the mergers and acquisitions in the mining sector over the last few years have hollowed out the middle sized mining companies and have left a big hole. Companies of this size play a very important role in the mining sector as they can get involved in projects that aren’t quite big enough for the largest mining companies. But importantly, some of these assets are the kind that can help middle sized companies grow much larger.

Their various assets give Capstone exposure to high quality base and precious metals mines in mining friendly countries with a primary focus on copper. In addition they have an aggressive management team that has developed a mining company that seems focused on growing into a much larger producer in the future.

Capstone Mining’s stock symbol is CS and the shares trade on the Toronto Stock Exchange. Their website is www.capstonemining.com. On their website you can find past news releases and additional information to do your own due diligence.

Exeter Resource Corporation

Exeter is another company that we have talked about several times on our on-line radio show due to the very good drill results they are getting from their key projects. Two of their projects that stand out to us are Caspiche in Chile and Cerro Moro in Argentina . We are not shareholders of the company.

Whenever we look at a company, our goal is to find those with the potential of finding a mine and there are generally two kinds of deposits that become mines. In some cases they can be high-grade underground operations and the other is low-grade big tonnage open pit mines. A common question from investors is what is better: high-grade or low-grade and the answer is it depends. There are several variables that go into determining if a deposit is an economically viable mine. But the bottom line is that both can be mines and mining companies make a lot of money from mining both styles.

We bring this up when looking at Exeter because they have both styles covered at their key projects. In the case of Caspiche they have a low-grade, large tonnage near surface open pit target in an area well known for these kinds of projects. At Cerro Moro they have a high-grade target also in a well known area with the right kind of geology that has returned high-grades in their drilling.

Chile is one of the most highly rated countries in the world for being mining friendly and the Caspiche project is found in close proximity to two deposits with 30 million ounce gold resources within a 10 mile radius. And it looks like this project is shaping up to be another important deposit in this region.

Cerro Moro is a high-grade gold and silver project that has returned several drill holes with promising results on the Escondida vein. Recently the company entered an agreement with Fomicruz, a mining company owned by the government of Santa Cruz Province , Argentina . This agreement gives the local government an economic interest in the project and allows the partners to continue drilling to further explore in this highly prospective region. They can also test the extension of the Escondida vein.

Exeter is a gold focused company with high quality projects that give them exposure to gold discoveries in well known areas in mining friendly countries. As we go forward it looks like these are the kinds of projects that will attract a larger audience of investors and we are pleased to add them to the group of companies we follow.

Exeter ’s stock symbol is XRC and the shares trade on the Toronto Stock Exchange Venture Market and they also trade on the NYSE Amex market with the symbol XRA. Their website is www.exeterresurce.com. On their website you can find past news releases and additional information to do your own due diligence.

Fortuna Silver Mines Inc.

Fortuna Silver is another company that came to our attention when preparing past radio shows as they have had very good drill results from their San Jose project in Mexico . Their drilling has been coming back with high-grade silver and gold and they have drilled it extensively and are preparing an updated resource estimate. We are not shareholders of the company.

Whenever we look at featuring a company in this report or to include them on our on-line radio show we are very specific in terms of what we look for. The search always begins with good drill results. Then we look at whether or not the project is in a mining friendly country and Fortuna’s San Jose project has these key characteristics.

In addition to this highly prospective exploration project they also have a producing silver-zinc-lead mine in Peru that they significantly increased production during 2008. They also recently acquired their joint venture partner and now have a 100% interest in the San Jose project that the company feels will add to their resources of silver and will add to their production base in the future.

They are well financed and this gives them the money to aggressively develop their projects. And their strong management team looks to be very focused on growing the company into a much larger silver mining company in the future. They have all the key elements in place to reach this goal and we like their chances.

Fortuna Silver’s stock symbol is FVI and the shares trade on the Toronto Stock Exchange Venture Market. Their website is www.fortunasilver.com. On their website you can find past news releases and additional information to do your own due diligence.

Some of our past picks

The next group of companies has been featured several times in past reports and they are all focused on copper projects. They have all made important discoveries and during the time we have followed them, they have worked aggressively to move their projects forward to the point where they now have large resources.

One of the reasons we are revisiting this group in this edition is we are very bullish on the price of copper and they all have a lot of this metal at their projects. Copper was punished in the last few months of 2008 (as was virtually every commodity) and then after reaching multiple year lows copper started recovering. Since the last couple weeks of 2008 and until recently it was in a trading range above the lows and has aggressively broken out of this trading range on the upside.

Our view is that copper is heading into a more bullish trend and we could see much higher prices in the coming months. The key reasons for our bullish outlook are based on long term trends in supply and demand. During much of the 1980-1990’s there was a severe under investment in exploration, development and production of this economically important metal. Then in the early 2000’s with strong demand coming from emerging economies as well as developed economies, the supply chain was overwhelmed, which drove the prices much higher.

In the latter part of 2008 when the global economy slowed dramatically, the demand for copper slowed as well. The price dropped so rapidly that this also slowed down production as mining companies are loathe to producing metals they sell for less than it costs them to get it out of the ground. At the same time exploration and development also slowed. This is very reminiscent of the period just prior to the year 2001 when the greatest commodity bull market of all time started.

In our view, things are shaping up for a repeat of most of the last 7 years when it comes to strong performance for commodities. Copper, based on long term supply and demand, is well positioned to perform exceptionally well in what we see as the next leg up in the long term bull market for commodities. One of the key things that will start this next leg up is when demand picks up due to global economic growth.

Copper is an exceptional indicator of economic growth; when economies are growing they use a great deal of copper as it is integral in so many of the products we use daily in the developed economies and increasingly in the emerging economies.

The recent action in the copper market with the price breaking out to the upside and the decrease in the copper inventories at the London Metals Exchange is suggesting that the global economy is likely bottoming. It has to bottom before it starts improving and that looks to be the direction it is heading.

As copper prices improve, it is highly likely that not only will investors be more interested in companies with serious copper projects but so will larger companies. And the group below has high quality copper projects in mining friendly countries and look to have potential for a growing interest in their projects.

Abacus Mining and Exploration Corp.

Abacus has been very busy in the last few years advancing their projects in the Afton mining camp near Kamloops , B.C. This work has led them to complete a resource calculation that estimates a substantial copper-gold resource. Recent drilling has opened up a new area that could grow this discovery even further. We are shareholders of the company and a consultant to the company.

Often one of the best places to look for a new mine is in an area where there has been past mining and the Afton mining camp is in one of those areas. In the past when the Afton Mine was in operation it was held by Teck/Cominco. It ended production in the late 1990’s when metals prices were much lower than they are currently.

Now Afton is being developed by another featured company from this report, New Gold Inc., and they are working hard to bring it toward future production. New Gold is run by a very aggressive group of highly successful mining people who recently announced a business arrangement to merge with Western Goldfields. This merger will help them cover some of the costs of moving ahead with the New Afton mine that is one of New Gold’s key projects. With such a high profile management team behind this company it brings a lot of attention to the area.

The Ajax East and West pits were also part of Teck/Cominco past production in the Afton mining camp and are being developed by Abacus. These two pits are looking like they can be part of one much larger pit and recent drilling just outside the main zone is where they have found what could be an extension of the overall Ajax deposit.

In addition to adding significantly to the scope of the Ajax project area with discovery of the extension area, they have also been adding people with a great deal of mine building and operation experience. A lot of highly successful mining people have been attracted to the Afton and Ajax projects in this mining camp. With our bullish outlook on copper and gold as well as our belief that having high quality projects in mining friendly countries is going to be increasingly more important to investors in resource stocks and projects like Ajax should garner increasing attention.

Abacus’s stock symbol is AME and the shares trade on the Toronto Stock Venture Market. Their website is www.amemining.com. Their website contains past news releases and additional information to do your own due diligence.

Candente Resource Corp.

Candente is another company that we have been following as a featured company in this report and during that time they have aggressively worked on their Canariaco project in Peru . We are shareholders of the company.

The Canariaco project is a multi-billion pound copper resource. An important recent milestone was the announcement of their preliminary economic assessment. Management intends to continue moving this project forward toward more advanced economic evaluation. We are optimistic that when this further work is completed, the price of copper will be higher, which will further enhance the economics of this project.

Canariaco is located in Peru , which for many years has ranked highly as one of the most mining friendly countries in the world. As we mentioned, we look for companies with high quality projects in mining friendly countries. Part of the problem, when looking for these kinds of companies, is finding those with copper projects is not easy. But the Canariaco projects has all the key things we look for and is in a small group of companies with multi-billion pound copper projects in mining friendly countries.

In addition to this project Candente has several other precious and base metals projects in Peru and Mexico that have a lot of promise. They are evaluating all of their various projects and looking at options to advance the group.

One of the key reasons we have been following this company is they have a company making project that could either be a takeover target or they could develop it into a mine and use that to grow the company. The mining business is in drastic need of middle sized mining companies as this category has been hollowed out in the last few years. And this affords an aggressively managed company a great deal of projects that aren’t big enough for a major mining company but could help a smaller company grow rapidly.

The Canariaco project would be a large scale operation that would need a serious investment to bring it into production. There is a growing interest from international companies that want to secure long term supplies of key metals such as copper but what is more difficult is to find them in mining friendly countries. It seems to us that several companies that could enter into off-take agreements would be interested in a project like Canariaco. This could give Candente options in funding the development of this high quality project.

Candente’s stock symbol is DNT and the shares trade on the Toronto Stock Exchange. Their website is www.candente.com. Their website contains past news releases and additional information to do your own due diligence.

Nevada Copper Corp.

Nevada Copper is another copper focused company that we have featured several times in past reports. They have two key zones on their Sleepy Hollow project in Nevada with large copper resources and the potential to become a future mine. In the last few years they have been aggressively drilling and have established a substantial resource and they are working toward an update of the resource estimates. We are not shareholders of the company.

Whenever looking at a company we often find that they either have a high-grade underground target or a lower-grade open pit target. Throughout the world there are mines that fall into either high-grade or low-grade categories that are very profitable. In the case of high-grade deposits they can be very lucrative because of the high value of the rock and in the case of low-grade open pit mines they can also be very lucrative because they can mine thousands of tonnes per day and make a handsome profit.

What makes Nevada Copper somewhat unique is they have two separate zones on their Sleepy Hollow project with one being a high-grade underground target and the other a lower-grade open pit target. This combination has them in a very good position with alternatives to moving ahead with their projects. Both have substantial resources and very importantly they are in Nevada , which is one of the most mining friendly places in the world.

They have completed a preliminary economic assessment of the project that indicates the realistic potential of Sleepy Hollow to become a future mine. They are working aggressively to do an update to their resource estimates and this is some of the work needed to further assess the economics of this project.

Just like the other copper focused companies featured in this report, Nevada Copper has a high quality copper project in a mining friendly area. These kinds of projects are few and far between and as time goes on we think they will become much more attractive as there is a growing need for copper and not enough new potential mines to feed future demand.

Nevada Copper’s stock symbol is NCU and the shares trade on the Toronto Stock Exchange. Their website is www.nevadacopper.com. Their website contains past news releases and additional information to do your own due diligence.

Commodities Commentary

Earlier in the report we discussed copper and reasons why we think it is primed to go higher and this is a good indication that the global economy is likely bottoming and headed toward better growth in the near term. Many of the reasons for our bullish outlook on copper are similar to why we are bullish on the other commodities we follow.

Whether looking at precious and base metals, oil and gas or diamonds, they all went through long periods of under investment in exploration, development and production that has left their respective long term supply chains in a weak condition. And the recent cutbacks in these areas due to the global economic slowdown have only weakened the long term supply chains further.

Another significant problem left over from the 1980’s and 1990’s is this period is often called by many in the industry “the lost generation”. During this time not enough students were focused on studying geosciences and this leaves the industry in a position of not having nearly enough highly trained people. Further exacerbating the problem is that many experienced people are nearing retirement.

These two issues of not enough money spent in the past to find new deposits to replace those that are being depleted and not enough people to replace those that are retiring is a serious problem. And it certainly doesn’t look like this is going to improve anytime soon because you can’t go back in time and spend money and educate people. These are key fundamental reasons why the long term supply chains don’t look to get stronger anytime soon regardless of the recent global economic slowdown. This will have an impact on the commodities supply chains for many years – actually most likely for the next couple of decades.

With all the money being pumped into the system through the various economic stimulus plans it is likely inevitable that the global economy will reach bottom and then start growing again. Considering all the US Dollars being pumped out, the fundamentals of supply and demand of this currency are getting worse and the dollar looks to have more downside risk than upside potential. With commodities quoted in US Dollars, a good rule of thumb is that when the dollar is strong commodities will be under pressure and when the dollar is under pressure then commodities are going higher.

The combination of the US Dollar bearish trend and the long term supply and demand of many commodities means that things are shaping up for higher prices for many commodities. In fact, it looks a lot like the bull market for commodities in the last several years is probably a precursor of what is going to happen in the future and may just have been the opening act in the play.

Our Favourite Treasure Hunters

Below is the roster of the companies we have featured in past reports. These companies and the new additions added in this edition have a common theme. They all have high quality projects that in our opinion to a large degree have valuations that are not accurately reflecting their realistic potential.

In addition to the group of featured companies we also have a group we call our radar screen. We don’t publish the group on our radar screen but it’s sufficed to say we are always looking out for new companies to add to the list below.

In the last few years, three of the companies we featured were taken over by larger companies and they are not included in the list below. These success stories include Wolfden Resources, Peru Copper Inc. and Gold Eagle Mines.

Before Wolfden was taken over, they spun out their gold projects and created Premier Gold Mines which is currently doing very well, so their success continues. Peru Copper was featured several times in our reports and is another company we were fortunate to follow early until they were taken over. Prior to Gold Eagle being taken over, they were the result of a merger between Exall Resources and their joint venture partner. We had started following the success of their discovery early when we featured Exall several times in the report and then with Gold Eagle Mines. Gold Eagle continued the success of the discovery by advancing it to the stage where Goldcorp Inc. took them over at a handsome premium.

In our view, some of the companies currently featured in the report have the potential to follow the same paths as the above success stories.

Before closing this section we would like to add that another way we follow or sometimes discuss news from the group we feature in this report is on our on-line radio show. If you visit our website at www.allanbarryreports.com, on the top right hand side of the main page you will see the on-line radio icon. Click on that and our radio player will come up and all our past radio shows are archived on there. If you haven’t had a chance to listen to our radio shows, we encourage you to have a listen.

Below the radio show icon is our blog icon and by clicking on that you will see that we keep track of all the radio shows including which companies and topics were discussed. We have linked all the company names to their website so you can easily go research their fundamentals. We also have a directory on the main page of the website with all the companies that have been featured in our past print reports with names linked to their websites.

The combination of our website, directory, blog, reports and radio show are all focused on being tools to help our audience follow and research commodities and resource stocks. They are not meant to be buying or selling recommendations; they are only for information purposes. We are big believers in investors doing their homework to understand the fundamentals of the companies they are watching. We cannot stress enough how important we feel it is for investors to do their homework before making any investment decisions and consult with those that help you make investment decisions. If these reports are helpful in identifying companies that merit readers doing their own further investigating, then we feel this report is a success.

Our roster of featured companies is separated into the commodities they are focused on and listed alphabetically. Most of these companies are not only focused on the commodity we will put them under as often where one metal is found there are others associated as well but we are putting them in the category that we are most following them for. We are also organizing the commodities alphabetically not in any order of priority.

Copper

Abacus Mining and Exploration

Candente Resource Corp.

Capstone Mining Corp.

International PBX Ventures

Nevada Copper Corp.

VMS Ventures Inc.

Diamonds

Peregrine Diamonds Ltd.

Gold

Atna Resources

AuEx Ventures Inc.

Cypress Development Corp.

Exeter Resource Corporation

Exmin Resources

International Tower Hill Mines

Kodiak Exploration

Minefinders Corporation Ltd.

Mountain Boy Minerals

New Gold Inc.

Osisko Mining Corporation

Premier Gold Mines

Redstar Gold Corp.

Rubicon Minerals Corp.

San Gold Corp.

Skygold Ventures

Tri Origin Exploration Ltd.

US Gold Corporation

Virginia Mines Inc.

Yamana Gold Inc.

Nickel

First Nickel Inc.

Inspiration Mining Corp.

Platinum & Palladium

Colossus Minerals Inc.

Oil & Gas

Oilsands Quest Inc.

UTS Energy Corporation

Silver

Bear Creek Mining

Fortuna Silver Mines Inc.

Silvermex Resources

SNS Silver Corp.

Uranium

Fission Energy Corp.

Hathor Exploration

Paladin Energy

Titan Uranium Inc.

UEX Corporation

Xemplar Energy Corp.

In Closing

We sincerely hope you like the changes to the report and the new additions to our website. If you have any comments on the changes, please feel free to give us a call or drop us a note; we highly value your feedback. As always, we would like to take this opportunity to thank you for taking the time to read the report. We hope this information proves to be informative and helpful.

We ask readers not to post this report on any website for at least three days after you receive it and if you do to kindly post the entire report without any editing. By posting the entire report it gives new readers a look at the complete report and they can find out how to subscribe for future reports. We invite readers to pass on our contact information to anybody they feel may be interested in receiving this report or future reports and we would be glad to add them to our email list for future publications. Our contact information can be found at www.allanbarryreports.com where you can also find our past reports and a way to subscribe at no charge for future reports.

Regards,

Allan Barry Laboucan,

Editor and Writer

Allan Barry Reports