Initiative to optimize production starts to bear…oil

July 15, 2011

Breaux Bridge, Louisiana -

In an ongoing effort to reduce its idle well inventory and optimize production from existing fields, Termo Team members in Louisiana and Long Beach identified and brought online two wells in recent weeks. The Rycade #4 benefited from a switch to an ESP and the Fleming #7D, which had been idle, was pulled and cleaned out. This work has brought an incremental increase in production of 100 BOPD from this field and added approximately 150,000 BO in reserves. The team is currently examining the SML #17 for a work-over and optimization.

Termo adds up to 15 well locations in existing fields in L. A. and Ventura County

July 1, 2011

Santa Paula, California -

Through an ongoing geological review and reinterpretation of data, Termo has identified the potential for up to 15 new well locations in existing and proposed field expansions within the Los Angeles and Ventura Basins. Additional mineral acreage has been secured through leasing and three projects are in the planning and permitting phases. The first wells are expected to spud in late 2011 or early 2012. Depending on the success of the first wells, drilling will continue for two to three years.

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.