U.S. Petroleum Completes Redfork & Senora Wells

U.S. Petroleum has successfully completed the first gas well on its Redfork prospect and the second gas well on its Senora prospect in Oklahoma.

The Company owns overriding royalty interests of up to 7.5% in the various leases comprising the Senora and Redfork prospects, where three successful gas wells now have been drilled and completed (with a total of up to nine wells expected), plus 100% working interests in six other undeveloped Oklahoma oil and gas prospects.

In Alaska, the Company has obtained its 2003 Certificate of Compliance from the Department of Community and Economic Development and has pre-qualified with the Division of Oil and Gas to bid in the Cook Inlet Areawide 2003 lease sale to be held on May 7.