Ann: Four Rivers Project First Well of 2010 a Suc, page-2

re: Ann: Four Rivers Project First Well of 20... First Well of 2010 a Success


LP Minerals No.1 intersects oil bearing formations

The first well for 2010 in the Four Rivers Project, the LP Minerals No.1 in the Louisiana Pacific Prospect, has reached target depth of 4,500 feet. Core sampling and logging indicate approximately 32 feet of net oil pay from multiple Wilcox sands. Production casing is being run and the well is being prepared for completion.
As planned, the well intersected the same Middle Wilcox sands as are producing in the adjacent Jack Allen No.7 well and increased the extent of the known oil reservoir. Additional oil bearing sands were also discovered enabling the establishment of offset locations, or Proven Undeveloped locations (PUDs), for future drilling.


Crosby 16-4 No.2 well completion update

Completion of the Crosby 16-4 No.2 well in the Kelly Hill Prospect is underway. The well was drilled in mid December 2009 as an offset to the Crosby 16-4 No.1 well. Crews have experienced minor delays due to inclement weather conditions and now expect to have the well online and producing within two weeks. Further results will be released to the market when the well has been completed.