Leon & Freestone Counties , Texas

A Cotton Valley Lime well is in the plans to be drilled in Leon County, Texas in late 2004 or early 2005.

Prowers County , Colorado
In the planning stage for development wells in the Las Animas Arch located in Prowers County , Colorado. A second well will be drilled in October 2004.

Cascade Project
Additional potential drillsites are being evaluated from the 3D Seismic Survey done in the Cascade Project located in North East Wyoming Powder River Basin with other Prospect leads also being evaluated in the area.

Sword Field
The pipeline to the new gas well in Harris County, Texas was completed in June 15, 2004 . Further field development drilling will begin in the fourth quarter of 2004. This Project and Field is also included in the Paragon Energy Two, LP Limited Partnership.

Cole Creek Field
3D Seismic is to be completed this summer in Cole Creek Field located in North East Wyoming and a developmental well will be drilled in January, 2005.