>January 2008, Upstate New York and Northeast Pennsylvania

 WhitMar announces the formation of a leasehold acquisition and drilling joint venture with Carrizo Oil and Gas, Inc., Houston, TX for the drilling and development of the Trenton-Black River and the Marcellus Shale to be centered around three blocks of leasehold covering a total of approximately 30,000 acres (each block consisting of 10,000 acres) leased by WhitMar in certain counties in upstate New York and Northeast Pennsylvania. Initial drilling commitment is for a total of 6 wells, one vertical and one horizontal Marcellus Shale well to be drilled on each of the three lease blocks. The parties intend to expand on their lease blocks before commencement of drilling.  

>February 2008, Hughes County, Oklahoma

 WhitMar announces the drilling and completion of the Roland 1-35, with Partner Devon Energy Corporation, at an IP of 796 MCFGD in the Woodford formation.

>April 2008, Broome and Delaware Counties, New York

 WhitMar announces the formation of a leasehold acquisition and drilling joint venture with XTO Energy, Inc., Fort Worth, TX for the drilling and development of the Marcellus Shale to be centered around a block of leasehold covering a total of approximately 25,000 acres in Broome and Delaware counties, New York. Initial drilling commitment is for a total of 4 wells, two vertical and two horizontal wells to test the Marcellus Shale. The parties intend to expand on their lease block before commencement of drilling.

>June 2008, Lycoming County, Pennsylvania

 WhitMar announces the formation of a leasehold acquisition and drilling joint venture with XTO Energy, Inc., Fort Worth, TX for the drilling and development of the Marcellus Shale to be centered around a block of leasehold covering a total of approximately 25,000 acres in Lycoming County, Pennsylvania. Initial drilling commitment is for a total of 2 wells, one vertical and one horizontal wells to test the Marcellus Shale. The parties intend to expand on their lease block before commencement of drilling.

>September 2008, Johnston County, Oklahoma

 WhitMar announces the drilling and completion of the Hartgraves 1H-5, with Partner Wagner & Brown, LTD., at an IP of 881 MCFGD in the Woodford formation.

>October 2008, Hughes County, Oklahoma

 WhitMar announces the drilling and completion of the Sherry 1-13, with Partner Chesapeake Energy, at an IP of 5,182 MCFGD in the Woodford formation.

>October 2008, Chemung County, New York

 WhitMar has drilled, completed, and flow-tested the Center at Horseheads #1 in central NY. The horizontal well encountered 3,000 feet of gas shows in a heavily dolomitized section of the Black River formation and tested to the atmosphere at a steady 6,000 MCFGD for 24 hours with 3350 psi tubing pressure. The well is shut-in and pipeline ROW is being secured, and the well is expected to turn into sales at 10,000 MCFGD in 3Q 2009.

 

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