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To: lindao who wrote (64896)	9/26/2000 10:07:50 AM
From: lindao	Respond to of 150070

ASRG - great news out, stock is tanking. I'll believe OTCBB is back when stock price rises with news. Aspen Group Reports First Year Results Plus Current Year Forecast PR News September 26 2000 06:27AM PT Highlights - Proven Reserves of $109 million - Revenues of $3.5 million - Cash Flow of $1.5 million - Company completes 4 additional acquisitions - Forecast Revenue of $20 million - Forecast Cash flow of 15 million OKLAHOMA CITY, Sept. 26 /PRNewswire/ -- Aspen Group Resources Corporation (OTC Bulletin Board: ASRG, CDN: ASRG.U) today released results for the fiscal year ended June 30, 2000. Aspen's Revenues were $3,481,718, which generated Cash Flow of $1,459,424. "We are very pleased to have produced positive cash flow and earnings in our first year of operation," stated Jack Wheeler, CEO of Aspen. "In addition, we have, as reported by American Energy Advisors, Inc. our third party reserve engineers, Proved Developed Reserves of $109 million. It is important to note that the Proved Undeveloped Reserve figure represents only about 30% of our productive leases and the balance will be engineered in this current year." Mr. Wheeler went on to state that due to the aggressive development plans, the Company expects to drill in excess of 60 wells this year, and total production at current prices should generate approximately $20 million in Revenue and $15 million in Cash Flow for the period ended December 2001. Aspen also announced the completion of 4 acquisitions with a value in excess of $10.5 million in exchange for 8.5 million restricted shares. The asset acquisitions are located in Oklahoma and Texas and will generate positive cash flow. Mr. Wheeler will host an investor conference call on Wednesday September 27, 2000 at 4:15 p.m. EDT to discuss the yearend results. Those interested in participating should call toll free at 1-877-871-4098 by 4:10 p.m. for the 4:15 p.m. call start. Mr. Wheeler will review the fiscal 2000 results and then open the call to questions. Aspen Group Resources Corporation is an Oil and Gas Exploitation, Production and Development company based in Oklahoma City. The Company currently owns interests in over 1200 wells located in ten states with a predominant focus in Oklahoma, Kansas and Texas. Additional information on Aspen Group Resources Corporation is available from: Kevin O'Connor Investor Relations 877-775-8754 ko@interlog.com Or visit the Company website @ www.asgrc.com. 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.