Termo Acquires Granite Wash Acreage

June 13, 2011

Long Beach, California -

Termo is excited to announce its entry into this highly prolific and productive area with its acquisition of Newport Oil Company’s 297 net acres in Washita County, Oklahoma. The acreage lies within 25 separate sections and has a net working interest as high as 13%. The purchase included interest in 5 currently producing wells operated by Chesapeake Energy. Some of these wells have had initial production rates as high as 10,000 MCFPD and 1,000 BOPD. Chesapeake has an aggressive drilling plan for this area, so Termo expects to see a great deal of activity within its interest block. While wells are currently being drilled one per section, the general belief within the industry is that the resource will be better produced with multiple wells per section. Termo’s acreage also has multiple target zones within the Granite Wash and Cleveland Sand.

Termo Welcomes Manuel Magallanes, Production Engineer, Onboard

April 1, 2011

Long Beach, California -

Termo is pleased to announce that Manuel Magallanes has joined the company as a Production Engineer. Formerly with Baker Hughes and Schlumberger as a technical advisor in the Artificial Lift Divisions, he brings broad industry knowledge to well production and strong capabilities in well optimization. Originally from Venezuela, Manuel has worked in Romania, Azerbaijan, and most recently Texas. With a BS in Petroleum Engineering and an MS in Drilling and Production from the Universitatea Petrol–Gaze din Ploiesti, Romania, he is expected to make a significant contribution to Termo’s ongoing idle well review and well optimization program.