Aspen: 13-for-13 in West Grimes

Aspen Exploration Corp. has drilled a new gas well in the Sacramento Valley gas province of Northern California.

The WGU #14-10 well, located in the West Grimes Gas Field, Colusa County, Calif., was directionally drilled to a depth of 8,460 feet and encountered approximately 55 feet of potential net gas pay in several intervals in the Forbes formation. Production casing was run based on favorable mud log and electric log responses. This was the thirteenth successful gas well out of thirteen attempts by Aspen in this field. Aspen plans to drill four additional wells in this field this year on its 10,000 plus acre leasehold and may be acquiring 3-D seismic data on a significant portion of its lands that have not been previously shot with 3-D. Aspen has a 21% operated working interest in this field.

The WGU #14-10 is the second well in Aspen's previously announced 11 well drilling program. The first well, the Emigh #34-1, is cased and currently waiting on a completion rig. The drilling rig is now moving to the Heidrick #11-2 well, located in the Kirk Field, Colusa County, CA.

In the Sacramento Valley, Aspen has drilled 31 successful gas wells out of 32 attempts during the last 3 1/2 years (97% success rate) and drilled 39 successful gas wells out of 44 attempts during the last 5 1/2 years, a success rate of 89%. Aspen currently operates 56 gas wells and has non-operated interests in 20 additional wells in the Sacramento Valley of northern California and has non-operated interests in approximately 33 oil wells in Montana.