Galaxy Energy Drills Nine CBM Natural Gas Wells in Wyoming

Galaxy Energy's subsidiary Dolphin Energy Corporation has drilled and cased nine new wells at the Pipeline Ridge coalbed methane prospect in Sheridan County, Wyoming.

These wells are adjacent to an existing pipeline. Power contracts are currently being finalized to allow the commencement of dewatering of completed coal zones, which will potentially result in gas sales into the pipeline before the end of 2004.

Additionally, three wells at Horse Hill and one well at Buffalo Run East have been commenced with surface casing set.

Completion operations to drill out below production casing and underream the primary coal zone began this week on Dolphin Energy's Leiter Estate property, near Leiter, Wyoming.

All of these field development activities are part of Galaxy's overall plan for developing its Wyoming leases, with the goal of generating sales of natural gas from these properties in 2004.