FORT WORTH, Texas, Jul 15, 2008 (PrimeNewswire via COMTEX News Network) -- Approach Resources Inc. (Nasdaq:AREX) ("Approach" or the "Company") today announced that the operator and non-operating participants in the Company's British Columbia lease acquisition and drilling project have engaged Tristone Capital Inc. to explore the sale of the project's oil and gas interests in northeast British Columbia. The project covers 29,954 (gross) and 28,309 (net) acres in the Monias/Charlie Lake areas. The project primarily targets Montney tight gas and Doig phosphate shale formations. Approach holds a 25% non-operating interest in the project.
About Approach Resources Inc.
Approach Resources Inc. is an independent energy company engaged in the exploration, development, production and acquisition of unconventional natural gas and oil properties in the United States. The Company focuses on natural gas and oil reserves in tight sands and shale. The Company operates or holds leases in Texas, Kentucky and New Mexico and has a non-operating interest in British Columbia. For more information about the Company, please visit www.approachresources.com.
The Approach Resources Inc. logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=4320
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of the federal securities laws. No assurance can be given that any sale of the joint venture interests described in this release will be completed. Important factors that could affect a potential sale include, without limitation, the inability to locate suitable purchasers, volatility in equity and credit markets, volatility in commodity prices for natural gas and oil and the ability of the joint venture's management to execute its divestiture plans. Other risks inherent in the Company's business are detailed in its Forms 10-K and 10-Q and other filings with the Securities and Exchange Commission.
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SOURCE: Approach Resources Inc.
Approach Resources Inc.
J. Ross Craft
Steven P. Smart
J. Curtis Henderson
Megan P. Brown
(817) 989-9000