Baron Finishes Phase 2 of Production Enhancement Program in Tx.

Baron has completed Phase 2 of its production enhancement program in Texas.

Management Comments

Ronnie L. Steinocher, President and CEO, commented, "After a 4-week delay due to heavy rains in our operational area, we have completed Phase 2 of our three-phase production enhancement program. We now plan to begin Phase 3 in early October. When Phase 3 is complete we will have reached our goal of increasing production by 20-30% from midyear.

Mr. Steinocher also noted, "In July we initiated a program to identify a few potential bolt-on acquisitions in our core area of operations. That program is now complete and we have added 10 new potential projects to our list. We are currently reviewing technical information on many of these projects. Any new production acquisitions would be operated by Baron. We are targeting bolt-on opportunities that will increase our current production by 25-50%."