Contour Announces Resignation of Two Outside Directors.

Business/Energy Editors

CONTOUR ENERGY CO. (the "Company") announced today that its two outside directors, John J. Conklin, Jr. and Ralph P. Davidson, have tendered their resignations from the Company's Board of Directors. Prior to the two resignations, the Company's four member Board unanimously approved the resolution authorizing yesterday's filing of the Joint Plan of Reorganization (the "Plan") under Chapter 11 of the Bankruptcy Code.

The Company has been diligently working with the majority holders of both its senior secured notes and its senior subordinated notes to restructure and substantially reduce its debt load. The outcome of that effort is the Plan of Reorganization filed with the court yesterday. The Company has strived to negotiate a plan fair to all its stakeholders and hopes the bankruptcy process will proceed without major obstacles. Kenneth R. Sanders, President and CEO, commented, "We greatly appreciate Bud's and Ralph's unwavering support for management during this arduous process, and thank them for their many years of tireless dedication to serving the Company and its Board."

The Company has eliminated the vacancies created by these two resignations and no longer has any outside directors. The Company does not expect any outside directors to be added to the Board at this time, and, as debtors and debtors in possession, will continue to manage and operate its assets and businesses subject to the supervision and orders of the bankruptcy court.

Contour Energy Co. is engaged in the exploration, development, acquisition and production of natural gas and oil.

Contour Energy Co. common stock is traded on the OTC Bulletin Board under the symbol CONC.OB.

Cautionary Statement as to Forward-Looking Information

Statements made herein (as well as information included in oral or other written statements made or to be made by the Company or its representatives) that are forward-looking in nature are intended to be "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, relating to matters such as anticipated operating and financial performance, business prospects, future reserves, cash flow and value, developments and results of the Company. Actual performance, prospects, reserves, cash flow and value, developments and results may differ materially from any or all anticipated results due to economic conditions and other risks, uncertainties and circumstances partly or totally outside the control of the Company, including rates of inflation, natural gas prices, uncertainty of reserve estimates, rates and timing of future production of oil and gas, exploratory and development activities, acquisition risks, changes in the level and timing of future costs and expenses related to drilling and operating activities and those risk factors described in the Company's Annual Report on Form 10-K, including the amendment thereto, for the fiscal year ended December 31, 2001.

Words such as "anticipated," "expect," "estimate," "project" and similar expressions are intended to identify forward-looking statements. Forward-looking statements include the risk factors described in the Company's Form 10-K mentioned above.