Carbon Energy Corporation to Present at The Seventh Oil & Gas Conference in Denver.

Business Editors

DENVER--(BUSINESS WIRE)--Aug. 1, 2002

Carbon Energy Corporation (AMEX:CRB) announced today that its President and Chief Executive Officer, Patrick R. McDonald will present at The Seventh Oil & Gas Conference in Denver on Monday, August 5, 2002, at 11:10 a.m. MDT. Mr. McDonald's presentation will give an update of the Company's growth strategy and continuing development of its extensive natural gas properties in the Rocky Mountains and in Central Alberta, Canada.

The presentation can be viewed at the Company's website at www.carbonenergy.com or at the conference website at www.theoilandgasconference.com starting August 5, 2002.

The conference, hosted by EnerCom, Inc., American Stock Exchange, Netherland, Sewell & Associates, Inc., Oil and Gas Investor magazine, Credit Lyonnais Securities (USA) Inc. and KPMG LLP is open to institutional investors, investment bankers, high net worth retail investors and oil and gas industry executives who are involved in the global energy market.

Carbon Energy Corporation is a Denver-based natural gas and crude oil exploration and production company with offices in Denver and Calgary, Alberta. Carbon's United States operations are conducted through its subsidiary, Carbon Energy Corporation (USA). Carbon's Canadian operations are conducted through its subsidiary, CEC Resources Ltd. Carbon has a growing reserve base and production. Carbon's U.S. and Canadian operations and reserves are weighted toward natural gas, which accounts for approximately 90% of its proved reserves and production. Carbon's focus is on the continued development of its extensive natural gas properties in the Rocky Mountain region of the United States and in Central Alberta, with emphasis on the Piceance and Uinta Basins of Colorado and Utah and the Carbon and Rowley areas of Alberta.

This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts included or incorporated herein may constitute forward-looking statements. Although the company believes that the expectations reflected in the forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. The forward-looking statements involve risks and uncertainties that affect the Company's operations, financial performance and other factors as discussed in the Company's filings with the Securities and Exchange Commission. Among the factors that could cause results to differ materially are those risks discussed in the Company's Form 10-K for the year ended December 31, 2001.