"its gas and oil recovered"

August 13, 2005
SUCCESSFUL RECOMPLETION OF CHILDERS #1 WELL IN EAST TEXAS
The company is pleased to announce the successful recompletion of the Childers #1 well in the 30% owned Jefferson-McLeod Project in East Texas.
The Childers well was originally producing approximately 300 thousand cubic feet (“mcf”) of natural gas and 10 barrels (“bbls”) of oil per day from a Travis Peak reservoir. This production was temporarily shut in, in order to test a second Travis Peak zone. The second zone was perforated and fracture stimulated and was producing 450 mcf of natural gas and 10 bbls of oil per day. The production from this reservoir had almost stabilized and continued to increase slowly when the company today shut in this production in order to perforate, fracture stimulate and test a third zone, which is expected to be oil bearing, later this week. Following this, the company plans to commingle all three reservoirs and produce them together.
The company continues to make good progress in the completion and production testing operations at the Davis #2 and Huntington-2H wells in East Texas and the Utah Fuel #2 and #10 in Utah.
Commenting on the re-completion of the Childers # 1 well, Jeffrey Clarke, CPC Chief Executive Officer said: “ with oil and gas prices at record high levels, our multi-well development drilling and recompletion program is beginning to show positive and repeatable results, with potential for a solid build-up in operating cash flow. As a result of commodity prices, operating cash flow margins should be at enviable levels.”