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Strategies & Market Trends : Joe Copia's daytrades/investments and thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Joe Copia who wrote (23164)	8/10/2000 5:08:53 PM
From: DADEPFAN	Read Replies (1) \| Respond to of 25711

Joe... Ever look at ASRG? Aspen Group Increases Production Through Acquisition Highlights: - Aspen Group Acquires Working Interest in 41 Producing Properties - Properties Located in Butler County, Kansas August 10, 2000 04:12 PM Eastern Time OKLAHOMA CITY, Aug. 10 /PRNewswire/ -- Jack E. Wheeler, CEO of Aspen Group Resources Corporation, ASRG , today announced the acquisition of 41 Producing Wells, Leases, Property and Equipment from Crawford Oil Company and Leiker-Crawford Oil Company of El Dorado, Kansas for $1,388,750 million in Cash. Aspen will acquire a 100% Working Interest in the properties which are located in Butler County, Kansas. The Acquired Properties increase Aspen's production base in Kansas and are strategically located in Butler County where the Company has a solid base of operations. Aspen began its operations in Kansas through its merger with MOG Oil and Gas, plus the Purchase of 33 Production Properties from the Flowers Estate. The preceding transactions were completed in April and May of this year. "This acquisition is an excellent example of how we intend to grow our Company," stated Mr. Wheeler. "Our Business Plan calls for growth through the acquisition of solid production properties with great development potential in key Core areas. The Properties we have acquired from Crawford are immediately accretive to Cash Flow and Earnings and will provide us with significant future development. In addition, they will improve our operating efficiency in Kansas by increasing Revenue and lowering Operating Costs through economies of scale." In additional developments, the Company is currently in the process of completing its Audited Year End Statements and Reserve Engineering Report for Fiscal 2000, which ended June 30, 2000. The reports are required by the SEC to be released within 90 days of fiscal year end. "We are anticipating very positive Fourth Quarter and Year End results," continued Mr. Wheeler. "Aspen has experienced considerable growth in its Reserves, Assets, Cash Flow and Earnings since June of 1999, and we expect that growth to continue." Aspen Group Resources Corporation is an Oil and Gas Exploitation, Production and Development company based in Oklahoma City. The Company currently owns interests in approximately 840 gross wells located in eight states with a predominant focus in Oklahoma, Texas, and Kansas. Additional information on Aspen Group Resources Corporation is available from: Kevin O'Connor Investor Relations 877-775-8734 The information in this news release includes certain forward-looking statements as defined in the "Safe Harbor" provision of the Private Securities Litigation Reform Act of 1995. These statements are based upon assumptions that are subject to significant risks and uncertainties. Although the Company believes that the expectations reflected in forward looking statements are reasonable, it can give no assurance that the expectations of any of its forward-looking statements will prove to be correct. SOURCE Aspen Group Resources Corporation