Calgary, Alberta – September 13, 2005 – Yoho Resources Inc. ("Yoho" or the "Company") has
today filed a listing application with the TSX Venture Exchange (“TSXV”) in respect of reinstating
trading of its voting common shares. The TSXV will be reviewing Yoho's listing application over
the next few weeks. The reinstatement of trading of Yoho's voting common shares on the TSXV
is expected to occur by the end of September, 2005.
The Company’s board of directors has approved capital budgets for the balance of fiscal 2005
and for fiscal 2006. Yoho’s capital budget for its fiscal year ending September 30, 2005 is $13.8
million and includes the drilling of 10 wells (5 net). The budget has been allocated as follows:
$5.2 million for drilling and completing wells, $4.8 million for land and seismic and $3.5 million for
facilities. The facility budget includes the acquisition of a working interest in a gas production
facility for a total purchase price of $2.7 million.
During the current quarter, Yoho has participated in drilling two exploration wells in the Peace
River Arch area resulting in one exploration discovery which was cased as an oil well and one
well which was dry and subsequently abandoned. The oil well is currently being completed and
equipped. Three additional wells are scheduled to be drilled under the fiscal 2005 capital
The capital budget for Yoho for its fiscal year ending September 30, 2006 has been set at $17.7
million. The Company plans on drilling 34 wells with an average 50% working interest. The
budget has been allocated as follows: $9.3 million for drilling and completing wells, $3.3 million
for land and seismic and $2.6 million for facilities and $2.0 million for acquisitions.
During the 2006 fiscal year, Yoho expects to continue its exploration program in the Peace River
Arch with 20 wells scheduled to be drilled. In addition, a 14 well development drilling program is
planned for the Basset Lake area of northern Alberta.
After giving effect to the 2006 capital expenditure program, Yoho expects production to average
800 boe per day for fiscal 2006, with an exit production rate in September, 2006 of approximately
1,100 boe per day. Funds from operations for fiscal 2006 are budgeted to be approximately $6.0
million, or $0.47 per share basic.
About Yoho Resources Inc.
Yoho is a Calgary based oil and gas exploration company operating within the Western Canadian
Sedimentary Basin and initially focusing on the Peace River Arch. Yoho currently has 28,850 net
acres of undeveloped land and approximately 500 boe per day of non-operated production.
For more information please contact:
Wendy S. Woolsey
Vice President, Finance and CFO
Yoho Resources Inc.
Phone: (403) 537-1771 ext 102
The TSX Venture Exchange has neither approved nor disapproved the contents of this press
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS
Certain statements regarding Yoho Resources Inc. include management’s assessments of future plans and
operations, may constitute forward-looking statements under applicable securities laws and necessarily
involve known and unknown risks and uncertainties, most of which are beyond Yoho's control. These risks
may cause actual financial and operating results, performance, levels of activity and achievements to differ
materially from those expressed in, or implied by, such forward-looking statements.
Such factors include, but are not limited to: the impact of general economic conditions in Canada and the
United States; industry conditions including changes in laws and regulations including adoption of new
environmental laws and regulations, and changes in how they are interpreted and enforced; competition; the
lack of availability of qualified personnel; fluctuations in commodity prices; the results of exploration and
development drilling and related activities; imprecision in reserve estimates; the production and growth
potential of Yoho's various assets; fluctuations in foreign exchange or interest rates; the ability to access
sufficient capital from internal and external sources; and obtaining required approvals of regulatory
Accordingly, Yoho gives no assurance nor makes any representations or warranty that the expectations
conveyed by the forward-looking statements will prove to be correct and actual results may differ materially
from those anticipated in the forward looking statements. Yoho undertakes no obligation to publicly update
or revise any forward-looking statements.