Aspen Exploration Hits Gas Pay at Nelson 1-10

Aspen Exploration Corp., with offices in Bakersfield, Calif., and Denver, Colo., has drilled a new gas well located in the Sacramento Valley gas province of northern California.

The Nelson #1-10 well, located in the Grimes Gas Field, Sutter County, Calif., was directionally drilled to a depth of 8,320 feet and encountered approximately 100 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. Mr. Cohan, Aspen's President and CEO, stated, "I am extremely excited about the extraordinary log responses exhibited in some of the Forbes intervals in the Nelson #1-10 well." Aspen has a 30% operated working interest in this well.

The drilling rig will be moving to the Morris #12-4 well, located in the West Grimes Gas Field, Colusa County, Calif., in approximately 2 weeks.

In the Sacramento Valley, Aspen has drilled 34 successful gas wells out of 36 attempts during the last 3 1/2 years (94% success rate) and drilled 42 successful gas wells out of 48 attempts during the last 5 1/2 years, a success rate of 88%. Aspen currently operates 60 gas wells and has non-operated interests in 21 additional wells in the Sacramento Valley of northern California and has non-operated interests in approximately 33 oil wells in Montana.