Aspen Reports Sacramento Valley Success

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

The Heidrick #11-2 well, located in the Kirk Gas Field, Colusa County, Calif., was drilled to a depth of 8,300 feet and encountered approximately 145 feet of potential gross gas pay in several intervals in the Forbes formation. Production casing was run based on favorable mud log and electric log responses. Aspen has a 41.60% operated working interest in this well.

The Heidrick #11-2 is the third consecutive gas well drilled in Aspen's previously announced 11 well drilling program. The first well, the Emigh #34-1, is currently being completed. The completion rig will then move to the WGU #14-10. The drilling rig is now moving to the WGU #15-13 well, located in the West Grimes Gas Field, Colusa County, Calif.

In the Sacramento Valley, Aspen has drilled 32 successful gas wells out of 33 attempts during the last 3 1/2 years (97% success rate) and drilled 40 successful gas wells out of 45 attempts during the last 5 1/2 years, a success rate of 89%. Aspen currently operates 57 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.