December 12, 2002

Dr. Timour Baichev Joins Ammonite
Expanding Firm's Engineering Capabilities
Particularly in Former Soviet Union

     An "old friend" of the firm  - Timour Baichev, whom we met in Moscow in the early 1990's, has joined Ammonite Resources.  Dr. Baichev recently immigrated to Canada where he now resides in Calgary with his wife, a family practice physician, and college student son. Ammonite is delighted to have Timour join us to expand our engineering capabilities, in particular, our ability to advise clients considering projects in the Former Soviet Union.

     Dr. Baichev is a consulting petroleum engineer with more than 25 years of broad international petroleum industry experience. His expertise includes reserves audits, reservoir management, water flooding & thermal secondary recovery, well testing, and decline curve analysis. He received a B.Sc. (Honors) from the Moscow Institute of Oil and Gas (Russia) in 1977 and a Ph.D. in 1987 from the same Institute. Dr. Baichev started his professional career in the petroleum industry in 1980 as a senior research scientist with the All-Union Oil and Gas Research Institute in Moscow, where he was involved in secondary recovery studies involving hot water injection and in-situ combustion. From 1988 - 1992 he was employed in Algeria by SONATRACH, the Algerian State Oil Company, where his work included reservoir and production engineering, oil reservoir performance prediction, geological modeling, monitoring well completion and testing, decline curve analysis, and material balance calculations in many of the largest Algerian oil fields. In 1992, Dr. Baichev joined Russian Petroleum Consultants Corporation as a Vice-President and Chief of the Moscow office. Russian Petroleum Consultants was one of the first private petroleum-engineering firms in the Former Soviet Union. Dr. Baichev was involved in all aspects (Administration, Management, and Engineering) of the operations of RPC's Moscow Office, including more than 20 projects implemented in Russia and other countries of the FSU. Most of these projects were reserve audits and feasibility studies of West Siberian, Ural, Komi Republic, Kazak, and Ukrainian projects operated by major Russian companies like Lukoil, Yukos, Rosneft, Sidanco, Tyumen Oil Company, Megionneftegas and others. Many of these studies were done in cooperation with Ryder Scott Petroleum Engineers, Inc., Houston, Texas. In 1999 Timour joined the Russian consulting company United Consultants (Moscow) where he was Head of the E&P Department. In 2002 Dr. Baichev immigrated with his family to Canada. He is fluent in Russian, English and French. Dr. Baichev is a member of the Society of Petroleum Engineers.