Aspen Group & Westchester Sign Five-Year JV Agreement

Aspen Group Resources and Westchester Resources have expanded their current Joint Venture Agreement to explore and develop oil and gas properties in North America for a period of five-years. Terms of the agreement provide that the two companies will pool their engineering and geological resources and work exclusively to acquire properties for development.

The two companies are currently jointly developing a shallow gas prospect in Saskatchewan. Announced in August 2004, the prospect consists of 82 contiguous sections (52,533 acres) of Crown leases in Southern Saskatchewan.

Aspen and Westchester also announced that Robert A. McPherson has signed an exclusive five-year agreement with the Joint Venture. Mr. McPherson, who holds a Ph.D. in Geology, brings more than 25 years experience in oil and gas exploration and development in Western Canada and the Northern United States.

Mr. McPherson began his career with Shell Canada after receiving a Bachelor of Science degree in geological engineering from the University of Manitoba. In 1967, Mr. McPherson returned to the University and earned both Masters and Doctorate degrees in geology. After working with the Alberta Research Council as a research scientist and as an oil and gas analyst for Geoffrin Robert Gelinas (now Levesque), Mr. McPherson began a consulting practice in Edmonton whose clients included the Government of Alberta and Syncrude. In 1978, he created a private company focused on developing oil and gas prospects in Western Canada and the U.S., which to date has posted an overall success ratio of 72 percent. "Robert's depth of knowledge and expertise played a key role during the acquisition of our Saskatchewan properties," stated Robert Calentine, CEO of Aspen. "His expertise in shallow gas exploration will be pivotal as we begin to develop the prospect and evaluate other projects in Canada and the United States. On behalf of Aspen and Westchester, I would like to welcome him to the team."
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 Company: Aspen Group Resourcesmore info
 - Aspen Completes $3 Million Financing (Jul 9)
 - Aspen Acquires Daly Field Assets (Feb 12)
 - Aspen Group Closes Private Placement (Dec 4)

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