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NEWS BULLETIN

September 10, 2007 --- Vol. 13, No. 80September 2007

Armstrong takes over North Fork unit

Bill Armstrong is back in Alaska. This time in the Cook Inlet basin.

Armstrong Cook Inlet LLC, an affiliate of Denver-based Armstrong Oil & Gas, has taken over as operator of the North Fork unit, a State of Alaska official told Petroleum News today.

Armstrong Cook Inlet replaces Gas-Pro LLC, and has amended North Fork’s 42nd plan of development to pursue what it describes as “aggressive” development of the southern Kenai Peninsula unit’s natural gas resources. The new 12-month plan Armstrong has proposed to the state includes drilling a 9,000-foot Tyonek delineation well by March 31, 2008.

Armstrong is also working on an agreement with Enstar to build a 15-mile pipeline from North Fork’s existing gas well to the Kenai Kachemak Pipeline, providing Armstrong is able to “drill and test a reasonable amount of gas out of the delineation well.”

If Enstar is not willing to build the pipeline, Armstrong told the state it would be willing to consider doing so.

Leases within the North Fork unit have been assigned to Armstrong Cook Inlet, the state told Petroleum News.

Note: See the full story in the Sept. 16 issue of Petroleum News, which will be available online this coming Friday at www.PetroleumNews.com

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