$47.5 Million of Oil & Gas Properties Sold at Clearinghouse's Auction

The Oil & Gas Asset Clearinghouse, a leading provider of acquisition and divestiture services for oil and gas properties, announced that it sold more than $47.5 Million in properties at its Hybrid auction held February 7th in Houston. For the seventh consecutive year, The Clearinghouse held its auction in conjunction with the North American Prospect Expo. The Clearinghouse offered 132 lots at this Selective Offering(TM), including many higher-valued, notable properties.

Ron Barnes, Sr. Vice President-Business Development of The Clearinghouse commented: "The Clearinghouse is pleased to have been invited to hold its auction in conjunction with NAPE for the seventh consecutive year. We are excited to have joined forces with AAPL and IPAA, clearly two outstanding organizations in our industry. The auction was a big success fueled by the energy and networking at this year's Expo."

Some of the more notable properties sold include: Aroc Oil and Gas et al sold 8 lots in the Gulf Coast area, Michigan, Oklahoma and Texas for a total of $1.9 million; Edge Petroleum sold 23 lots located in South Texas and Gulf Coast regions for a total of $17.5 million; and Henson Exploration sold 1 lot in Taylor County, Texas for $12.5 million.

The Clearinghouse will hold its next auction of 1,150 oil & gas properties on April 16, 2008 in Houston. This auction will be held at the Sheraton North Houston Hotel. Selective Offering brochures will be mailed on March 14th. Data Rooms will be open in The Clearinghouse offices on March 17th; call 281-873-4600 for an appointment.


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