UMC's partner in a project in canada reported the following on friday afternoon

Waseco Resources Inc.: Final Geophysical Report on Uranium Properties Delivered
1/27/2006

TORONTO, ONTARIO, Jan 27, 2006 (CCNMatthews via COMTEX) --
Waseco Resources Inc. (TSX VENTURE:WRI) is pleased to report that it has received the Final McPhar Geophysical Report containing the results of the airborne magnetic, radiometric and ground gravity programs, carried out on its 5 uranium prospects in the Central Quebec Labrador Trough.

The comprehensive report (over 100 pages plus appendices and maps) presents both the data and the geophysical interpretation of the data, the latter compiled by McPhar Geophysicist Robert Hearst, M.Sc., P. Geophysics and a qualified person under National Instrument 43-101. A copy of the Report has also been couriered to the geological advisor for UMC Energy plc (formerly UMC plc). UMC can earn a 75% interest in 3 of the 5 originally staked properties by electing to fund $800,000 of exploration work this year.

Rob Hearst states that: "The multiple discipline geophysical surveys over Blocks I, II, III, IV and V, have identified fifty-five (55) targets for additional study as a prelude to drill target selection. There are 27 uranium anomalies, of which 25 are high priority targets, as well as 7 other uranium anomalies thought to be related to uranium boulder trains. The magnetic survey also identified 21 discrete vertical cylinder type magnetic anomalies of which 17 are high priority. We are recommending additional staking and follow-up work on these very exciting project areas. These properties have great potential for economic uranium deposits as well as having good potential for base metal and precious metals."

The geophysical interpretation will now be compiled with all available geochemical and geological information; including reports on programs carried out by various companies that worked in the area some 30 years ago, when uranium occurrences in the Labrador Trough were first identified, as well as both prior and subsequent studies carried out by the Quebec Ministry of Natural Resources. In conjunction with the McPhar Report, this data will form the basis of the recommended programs for the coming year.

Management will study the Final Report and consult with its advisors prior to making any further releases as to the findings. Any recommendations, including further staking and follow-up programs, will be reported on in the normal course, when adopted.

WASECO RESOURCES INC.





UMC currently has a 25% interest in the project but can increase that to 75% by providing further funding of $800,000 (In the 3 blocks they preferred)

Also UMC are in negotiations to acquire a oil / gas prospect in Kazakhstan

Market Cap just 3.5million and partner has already tripled in the past 2 months in anticipation of release!

I think this company has a bright future good luck

Waseco (partner) up 32% on speculation of fundraising after presentation in frankfurt, shareholders got something to get investors excited about.

Very bullish article in Shares on uranium, unfortunately didnt get a mention but thought that uranium exploration could give a ten bagger.

Also mentioned possibility that war with Iran could lead to stockpiling of uranium as energy prices skyrocket, stated that some analyst are thinking of $500 a pound, currently approx $37. Not sure about that but interesting read!

Investika completed fundraising today and that means that news on the options in Uranium properties is one step closer, shouldnt be long now.

Waseco, UMC's partner in canada just released the following

Waseco Resources Inc.: Uranium Exploration Update
2/15/2006

TORONTO, ONTARIO, Feb 15, 2006 (CCNMatthews via COMTEX) --
Following a presentation to Waseco (TSX VENTURE:WRI) management by McPhar Geosurveys Ltd. ("McPhar") on the geophysical surveys and their interpretation of five (5) projects in the Quebec Labrador Trough, Waseco Resources Inc. has staked an additional 35 claims, covering approximately 1,675 hectares.

The programs consisted of ground gravity and airborne radiometric and magnetometer surveys at a cost of over $275,000. As previously reported, McPhar has identified 55 targets on the 5 Blocks. These targets consist of:

27 uranium anomalies (25 high priority, 2 moderate);

21 magnetic anomalies (17 high priority, 1 moderate, 3 low priority);

7 uranium bolder anomalies;

Of these, 12 of the uranium anomalies occur on Block I, and most occur within a shear zone that extends over 7.5 km on the property associated with the Argencourt Fault. In addition, the original reported showings (# 181, 185, 187, and 188, the former two also associated with the shear zone) correspond to showings identified by Eldorado Nuclear in 1979 (catalogued by the Ministry of Energy and Natural Resources of Quebec) and also warrant further follow-up.

In addition, 7 magnetic anomalies are within this Block and are at or near surface and consistent with a vertical pipe-like intrusion and hence may be kimberlitic in origin.

Rob Hearst, P. Geoph., General Manager of McPhar and a Qualified Person under Policy 43-101, has recommended detailed geological mapping, heavy mineral sampling for diamonds and kimberlite indicators in the circular magnetic anomalies and detailed electromagnetic surveys for conductive sulphide deposits containing copper and gold and/or uranium.

Each of the other 4 properties also contains high priority uranium anomalies. Compilation of the historic geological and geochemical data on the 5 properties is ongoing and further news releases will be made in the normal course.

Waseco's Blocks I, II and III are currently under option to UMC Energy plc., an AIM listed company, that has the option to expend $800,000 by December 31, 2006 to earn a 75% interest. Blocks IV and V, as well as subsequently staked claims, are 100% owned by Waseco.

WASECO RESOURCES

Presentation to be made by UMC Energy's partner in the uranium project (Waseco Resources) on tuesday in frankfurt at 11.15 GMT. It may have an effect on share price and should be well worth watching.

News on financing should be out this week or possibly early next week, just a heads up.

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Anybody else noted the rising price?

KD.

Gone up 66% no news and on volumn of 10K?

This Share Is moving again, now has large uranium property for exploration in madagascar. For information see www.clinemining.com they have a presentation and competent persons report on the Morondava Uranium Project which will explain the situation to you, cline mining now has a 40% stake in UMC Energy in return for the properties in madagascar which UMC has now been exploring for some time.

On the move this week expect the same next week anyone else in.

Down 20% this afternoon but off the lows.