WhitMar announces the commencement of drilling operations of the Buda #1 well, the first Marcellus Shale well in our 30,000 acre Moose Prospect with joint venture partner, EnCana Oil and Gas, (USA) Inc.

WhitMar announces the completion of the fifth Marcellus Shale well drilled in our 35,000 acre Nittany Prospect with joint venture XTO, with an IP in excess of 6 MMCFGPD.

WhitMar announces the successful completion of the Dow #1 well in its Horseheads Prospect, a Trenton-Black River play in upstate New York. The horizontal well encountered 1,000 feet of gas shows in a heavily dolomitized section of the Trenton-Black River formation and tested to the atmosphere at a steady 8,000 MCFD for 24 hours with 3,500 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 MCFD in 4Q 2010. WhitMar’s partner, Anschutz Petroleum, is the operator of the well with a 46.6% working interest and WhitMar has a 30.6% working interest in the well. Other WhitMar partners own the remainder of the working interest.

WhitMar announces the commencement of drilling operations on two Trenton-Black River wells with JV Partner, Anschutz Petroleum, in its ongoing Trenton-Black River drilling program in its Horseheads Prospect in Chemung County, NY.

WhitMar announces that the second two horizontal Marcellus wells drilled on its Nittany Prospect have been completed, with both wells having IP’s in excess of 7 MMCFGPD.

WhitMar announces the formation of a joint venture with Nadel & Gussman for the drilling of horizontal Bakken wells in WhitMar’s Bicentennial Prospect in the Williston Basin. The first well should spud by third quarter of 2010.

WhitMar announces that the first two horizontal Marcellus wells drilled on its Nittany Prospect have been completed, with both wells having IP’s in excess of 5 MMCFGPD.

WhitMar announces the formation of a leasehold acquisition and drilling joint venture with EnCana Oil & Gas (USA) Inc., Denver, CO 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 Luzerne and Columbia Counties, Pennsylvania. Initial commitment is for the acquisition of seismic data and the drilling of two horizontal wells to test the Marcellus Shale. WhitMar and EnCana intend to expand on their lease block before commencement of drilling.

WhitMar has drilled, COMPLETED, and flow-tested the Ruger #1 in central NY. WhitMar’s partner, Anschutz Petroleum, is the operator of the well with a 46.5% working interest and WhitMar has a 28.5% working interest in the well. Other WhitMar partners own the remainder of the working interest. The horizontal well encountered 1,000 feet of gas shows in a heavily dolomitized section of the Black River formation and tested to the atmosphere at a steady 5,000 MCFD for 24 hours with 2200 psi tubing pressure. The well is shut-in and pipeline ROW is being secured, and the well is expected to turn into sales at 5,000 MCFD in 4Q 2009.

WhitMar announces the drilling and COMPLETION of the King 1-24, with Partner Devon Energy, at an IP of 8169 MCFD in the Woodford formation.

WhitMar announces the drilling and COMPLETION of the D & L Cattle 2-24, with Partner Devon Energy, at an IP of 5641 MCFD in the Woodford formation.

WhitMar announces the drilling and COMPLETION of the King 2-24, with Partner Devon Energy, at an IP of 6793 MCFD in the Woodford formation.

WhitMar announces the drilling and COMPLETION of the D & L Cattle 1-24, with Partner Devon Energy, at an IP of 6714 MCFD in the Woodford formation.

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 MCFD 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 MCFD in 3Q 2009.

WhitMar announces the drilling and COMPLETION of the Sherry 1-13, with Partner Chesapeake Energy, at an IP of 5182 MCFD in the Woodford formation.

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

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.

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.

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

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.

WhitMar announces the drilling and COMPLETION of the Holder 1-24, with Partner Devon Energy Corporation, at an IP of 2944 MCFD in the Woodford formation.

WhitMar announces the drilling and COMPLETION of the Hartgraves 1-28, with Partner Devon Energy Corportation, at an IP of 1420 MCFD in the Woodford formation.

WhitMar announces the drilling and COMPLETION of the Perry 1-2, with Partner Newfield Exploration, at an IP of 1716 MCFD in the Woodford formation.

WhitMar announces the formation of a leasehold acquisition and drilling joint venture with Anschutz Exploration Corporation, Denver, Co for the drilling and development of the Trenton-Black River and the Marcellus Shale to be centered around approximately 10,000 acres of leasehold leased by WhitMar in Chemung County, NY. Initial drilling commitment is for one horizontal Trenton-Black River well to be drilled to 10,000’ TVD/14,000’ MD.

WhitMar announces the drilling and COMPLETION of its first 9 wells in the East Helper Prospect. All wells indicated gas response on the electric logs and were successfully perforated and fracture stimulated in the Ferron Formation. All 9 wells are now being connected to the sales line. Production is expected to commence in the next 3 weeks. Based on geologic and engineering data, WhitMar has permitted an additional 26 drilling locations for 2006 on its 12,000 acre leasehold. At current spacing of 160 acres, there is potential for 75+ wells. Estimated reserves are 2.5 BCF per well.

WhitMar is currently DRILLING AHEAD at 5000’ MD on the Mabry #1-13, toward total depth of 12,500’ MD. The well is targeting the Spiro Formation, with potential reserves of 4+ BCF.

WhitMar is currently DRILLING AHEAD at 4000’ MD, with partner Devon, on Willow Draw #24-1, toward total depth of 10,000’ MD. The well is targeting the Morrow Formation, with potential reserves of 4+ BCF.

WhitMar has run production pipe and is currently COMPLETING the City of Red Oak #1-34 in the objective Spiro Formation at 12,500’ MD. If successful, there is potential for an offset. Potential reserves are 2.0 BCF per well.

WhitMar has run production pipe and is currently COMPLETING the Harrel #2-11 in the objective Spiro Formation at 12,500’ MD. Potential reserves are 0.5 BCF.

WhitMar announces the PSO #10-2 DISCOVERY, with partner Unit Petroleum, which is producing gas to the sales line at 2000 MCFD from the Spiro Formation. Expected reserves are 3 BCF.

WhitMar announces the Dadisman #1-20 DISCOVERY, with partner Chesapeake Energy, which is producing gas to the sales line at 1800 MCFD in the Springer and Morrow Formations. There is potential for one offset. Estimated reserves are 2.5 BCF per well.

WhitMar has secured the Nabors 290 rig for the South Wilburton Prospect, with expected spud date in February 2006. The well is targeting the Spiro Formation at 15,000’ MD, with potential reserves of 12+ BCF.

WhitMar has secured the Nabors 290 rig for the West Hartshorne Prospect, with expected spud date in March 2006. The well is targeting the Spiro Formation at 12,500’ MD, with potential reserves of 3+ BCF.

WhitMar announces the initial 5 test wells for the East Helper Prospect will begin drilling in May 2005. The main objective is the Ferron zone at ~2500 feet, which is a 200 foot section of tight gas sands, shales, and coal seams. At current spacing of 160 acres, there is potential for up to 100 wells. Estimated reserves are 2.5 BCF per well.

WhitMar announces the acquisition of 800+ acres in the Delaware Basin, Eddy County, New Mexico. The acreage covers 5 prospects whose main objectives are Morrow-age sands. Average depths to target zone is ~10,000 feet. Estimated reserves for each well are 2-3 BCFEG.

WhitMar announces the completion of the Hightower Trust #1-32 DISCOVERY, with partner Chesapeake Energy, at an IP of 7700 MCFD in the Lower Britt Springer Formation. The new reservoir with virgin pressure has potential for 5 additional offsets, with an estimated 30+ BCF of reservess