Aspen Hits Seventeen in a Row

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

The Harlan #1-24 well, located in the West Grimes Gas Field, Colusa County, California, was drilled to a depth of 8,250 feet and encountered approximately 70 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. This was the seventeenth successful gas well out of seventeen attempts by Aspen in this field. Aspen has a 34% operated working interest in this well. Aspen is also in the initial permit phase of a 10 square mile 3-D seismic survey in this area in which Aspen owns a 32% operated working interest.

In the Sacramento Valley, Aspen has drilled 37 successful gas wells out of 40 attempts during the last 4 years (93% success rate) and drilled 45 successful gas wells out of 52 attempts during the last 6 years, a success rate of 87%. Aspen currently operates 63 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.