C. K. Cooper Announces Investment Opinion; C. K. Cooper & Company Releases Quarterly Watch List Review.

IRVINE, Calif.--(BUSINESS WIRE)--Oct. 7, 1999--

Adds Daugherty Petroleum Inc. (NASDAQ:NGAS) and Kestrel Energy

(NASDAQ:KEST) to Watch List of Companies

C. K. Cooper & Company Thursday released its first Quarterly Watch List Review report on smaller exploration and production companies.

Within this 10 page report, C. K. Cooper provides an overview on each of the current issues on its Watch List, as well as general commentary on specific issues and market conditions.

Within this report, C. K. Cooper & Company has updated seven issues that are currently on the Watch List in separate one page reports. These reports are on:

Columbus Energy -- (AMEX:EGY) Daugherty Petroleum -- (NASDAQ:NGAS) Esenjay Exploration -- (NASDAQ:ESNJ) Greka Energy -- (NASDAQ:GRKA) Kestrel Energy -- (NASDAQ:KEST) Questa Oil & Gas Company -- (NASDAQ:QUES) Vista Energy Resources Inc. -- (AMEX:VEI)

C. K. Cooper & Company does not prepare estimates nor made recommendations on Watch List Issues.

For more information contact:

C. K. Cooper & Company Telephone: [phone] Von Karman Ave., Suite 560 Facsimile: 949/477-9211 Irvine, Calif. 92612 E-Mail: [e-mail]

C. K. Cooper & Company is an investment banking boutique that specializes in the energy sector with an emphasis on exploration and production companies.

The information contained herein is not a complete analysis of every material fact respecting any company, industry or security. Although opinions and estimates expressed herein reflect the current judgment of C. K. Cooper & Company, the information upon which such opinions and estimates are based is not necessarily updated on a regular basis; when it is, the date of the change in estimate will be noted. In addition, opinions and estimates are subject to change without notice. This report contains forward-looking statements, which involve risks and uncertainties. Actual results may differ significantly from the results described in the forward-looking statements. Factors that might cause such a difference includes, but is not limited to, those discussed in "Investment Risks."

C. K. Cooper & Company from time to time performs corporate finance or other services for some companies described herein and may occasionally possess material, nonpublic information regarding such companies. This information is not used in the preparation of the opinions and estimates herein. While the information contained in this Report and the opinions contained herein are based on sources believed to be reliable, C. K. Cooper & Company has not independently verified the facts, assumptions and estimates contained in this report. Accordingly, no representation or warranty, expressed or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information and opinions contained in this report. C. K. Cooper & Company, its managing directors, its affiliates, and/or its employees may have an interest in the securities of the issue(s) described and may make purchases or sales while this report is in circulation.