Aspen Sees Success in NatGas Well Tests

Aspen Exploration reported a successful flow test on a natural gas well located in the Sacramento Valley gas province of northern California. This was the sixteenth successful gas well out of sixteen attempts by Aspen in this field. Aspen plans to drill one additional well in this field this year on its 10,000 plus acre leasehold. Aspen has a 34% operated working interest in this well.

In early September, a completion rig will be moving to the Morris #12-4 well, a recently drilled well located in the West Grimes Gas Field.

The Bidart Bros. #63X-28, a 7,800-foot Stevens oil test, located in Kern County, CA, was recently drilled and plugged and abandoned.

In the Sacramento Valley, Aspen has drilled 36 successful gas wells out of 38 attempts during the last 3 1/2 years (95% success rate) and drilled 44 successful gas wells out of 50 attempts during the last 5 1/2 years, a success rate of 88%. Aspen currently operates 62 gas wells and has non-operated interests in 21 additional wells in the Sacramento Valley of northern California and has non-operated interests in approximately 33 oil wells in Montana.

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Brent Crude Oil : $52.42/BBL 2.12%
Light Crude Oil : $49.51/BBL 2.35%
Natural Gas : $3.17/MMBtu 2.25%
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