Storm Cat To Acquire Wyoming Assets From Bill Barrett

Storm Cat Energy Corp., Calgary, (Amex: SCU; Toronto: SME) plans to acquire approximately 25,200 gross acres (17,000 net acres) in the Powder River Basin coalbed-methane (CBM) play in Campbell County, Wyo., from Bill Barrett Corp., Denver, (NYSE: BBG) for approximately US$30.7 million in cash. The properties are in and around Storm Cat's core Powder River operating area, and are approximately 81% undeveloped, with more than 90% on U.S. federal lands. Production on the assets is 6.6 million cubic feet per day (approximately 3 million cubic feet net) from 64 CBM wells, 46 of which are operated by Storm Cat. Proved reserves are approximately 10.2 billion cubic feet of gas, probable reserves are 9.6 billion cubic feet and possible reserves are 7.8 billion cubic feet.