Energy Spectrum to Sell Arkoma Basin Producing Properties

Sebastian County, Arkansas
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Energy Spectrum Advisors, Inc. has been retained as exclusive financial advisor by a private Arkansas independent to solicit acquisition proposals for certain natural gas producing properties located in the Arkansas Overthrust Trend of the Arkoma Basin.

Energy Spectrum will host a data room in Fort Smith, Arkansas, with purchase offers (bids) due in early August 2004.

The properties include operated working interests in producing natural gas assets located in the Gragg Field, Sebastian County, Arkansas. The Gragg Field is located in the Arkansas Overthrust Trend area of the Arkoma Basin near the Oklahoma border. The Company's natural gas assets, producing from shallow middle Atoka depths, have long productive lives, high EUR's, low development costs and low operating costs. In addition to eighteen producing wells, several PDNP, PUD and Probable opportunities identified by the Company are being offered for sale.
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