Encore Acquisition Co.

Encore Acquisition Co., Fort Worth, Texas, (NYSE: EAC) has retained Lehman Brothers Inc. to explore strategic alternatives including a sale or merger of the company. Encore focuses onshore U.S., with interests in properties in the Cedar Creek anticline in the Williston Basin of Montana and North Dakota; the Permian Basin of West Texas and southeastern New Mexico; the Rockies including assets in the Williston, Big Horn and Powder River basins of Montana, North Dakota and Wyoming and Paradox Basin of southeastern Utah; and the Midcontinent area including the Arkoma and Anadarko basins of Oklahoma, the North Louisiana Salt Basin and the East Texas Basin. Proved reserves are 231 million barrels of oil equivalent. Production during firstquarter 2008 was 38,196 barrels of oil equivalent per day. Upside potential includes 35 enhanced oil-recovery projects representing more than 450 million barrels equivalent and an additional 2,500 drilling locations. Encore president and chief executive Jon S. Brumley says, "Encore has sizeable and scalable projects in some of the most significant onshore domestic oil and natural gas plays which include the Bakken shale play, the Haynesville shale play, our West Texas joint venture with ExxonMobil, our Rocky Mountain CO2 opportunities and our newest oil shale play, the Tuscaloosa Marine shale." Encore currently has 10,000 net acres in the Haynesville discovery in Elm Grove and Greenwood Waskom fields with two successful wells currently producing near the company's current acreage position. "It is our belief that Encore's current share price is not reflective of our record operating results and our ability to efficiently fund these projects through our upstream MLP, Encore Energy Partners. We are determined to have the value of these opportunities recognized for our shareholders," he adds. Contact Bob Reeves, 817-339-0918.