Aspen Exploration Corp.

Transaction Type
Sellers
Post Date
Estimated Price
0MM
Description

Aspen Exploration Corp., Denver, (OTCBB: ASPN) plans to seek strategic alternatives including selling assets, a merger or sale of the company. Aspen operates in California and Montana including working interests in 16 wells in West Grimes Field, Colusa County, California; 30% working interest in Nelson #1-10 well in Grimes Gas Field, Solano County, California; 41.60% working interest in Heidrick #11-2 in Kirk Buckeye Gas Field; and working interests in certain wells in Malton Black Butte Field The company also owns an interest in 33 producing gross oil wells in certain oil producing assets encompassing 22,600 acres in the East Poplar Unit and Northwest Poplar Field in Roosevelt County, Montana, in the Williston Basin. As of June 30, 2007, Aspen had total proved reserves of 130,000 barrels of oil and 2.7 million cubic feet of gas. A data room will open in Santa Barbara, Calif. Contact R.V. Bailey, 303-639-9860