Rancher Energy Corp.

Rancher Energy Corp., Denver, (OTCBB: RNCH) has retained Growth Capital Partners LP to consider strategic alternatives, including the possible sale of the company. Rancher Energy targets mature oil fields in the Rockies for CO2 injection coupled with other enhanced oil recovery (EOR) techniques. The company operates three fields in the Powder River Basin, Wyoming: South Glenrock B Field, Big Muddy Field and Cole Creek South Field. South Glenrock B Field in Converse County as of March 31 produced approximately 160 barrels of oil per day from 13 producing wells primarily from the Lower and Upper Muddy formations as well as the Dakota formation. Big Muddy Field in Converse County produced about 20 barrels via a stripper operation from five producing wells from the First Frontier, Stray, Shannon, Dakota, Lakota, Muddy and Niobrara formations. Cole Creek South Field in Converse and Natrona counties produced approximately 90 barrels from 12 producing wells from the Dakota sand unit waterflood and from the Shannon, First Frontier, Second Frontier, Muddy and Lakota formations. Total annual production was 86,600 barrels net. Total proved reserves are 31 million barrels with 90 million possible. Total net acreage is 23,800 (8,900 undeveloped). Contact John McNabb, 281-445-6611.