Aspen Strikes Gas at Harlan Well

Aspen's Harlan #1-24 well in W. Grimes gas field, Colusa county, California was drilled to a depth of 8250 feet and successfully flow tested and encountered 70 feet of potential gross gas pay in several intervals in the Forbes formation. One of these intervals was perforated and tested gas on a 3/16-inch choke at a stabilized flow rate of 1,700 MCFPD. The shut in tubing and shut in casing pressures were 3,740 psig. Aspen has a 34% operated working interest in this well.

This was the sixteenth successful gas well out of sixteen attempts by Aspen in this field. 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 27 oil wells in Montana.