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On October 7, 2008 Ute Energy, LLC a company majority owned by the Ute Indian Tribe completed the drilling of four new wells in Brundage Canyon. The drilling program was Ute Energy’s first as an operator in the Uinta Basin. Completions on all four wells are anticipated to be completed by the end of October. Ute Energy is an affiliated oil and gas and midstream company of the Ute Indian Tribe along with Houston based Quantum Energy Partners and Denver based Quantum Resource Management. “It's Ute Energy’s first attempt at becoming an operator in oil and gas development”, said Curtis Cesspooch, Chairman on behalf of the Tribal Business Committee. "We are pleased with the early results of the four development wells and with the company’s ability to execute," said Don Sinclair, Ute Energy CEO. "The Tribe has aligned itself with successful operators in the past in a strategic step toward building their own energy company and today they are drilling wells for the very first time." Brundage Canyon, within the Ute Tribe's reservation is governed under an Exploration and Development Agreement (“EDA”) between the Tribe and Ute/FNR LLC (a limited liability company between FIML Natural Resources, LLC as operator and Ute Energy, LLC). The EDA allows Ute Energy to propose wells and the right to operate and drill wells. Ute Energy initiated the four well Green River formation program and drilled all four wells as operator on behalf of Ute/FNR. In the upcoming year, Ute Energy anticipates it will participate in more than 80 new wells on reservation land alongside its industry partners - Bill Barrett Corporation, Berry Petroleum, Questar, Ute/FNR, XTO, and Newfield. Ute Energy also plans to drill another 4-20 wells as an operator developing its own prospect area in Utah’s Uinta Basin. HOUSTON, June 28, 2008

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