A Viking Rig #20 will be used to drill the University Andrews 42 #2 well to the Devonian formation and then subsequent wells will be drilled to the Strawn formation and completed in the Strawn, Wolfcamp, Spraberry and Lower Clearfork formations.

ASEN has engaged Cambrian Management to oversee the drilling program and completion of these wells.

On completion, ASEN’s wells will be handed over to the company’s affiliated partner XOG Operating for ongoing operations.

ASEN currently produces over 800 barrels of oil equivalent per day (BOEPD) from 27.67 net wells combinely from the Permian, Bakken and Eagle Ford basins.

The production is expected to increase by more than 100% in the first quarter of 2012 adding to a projected cumulative production of approximately 2,000 BOEPD.