EnergyQuest Completes Multiple Acquisitions.

HOUSTON -- EnergyQuest Resources, LP and EnergyQuest Management, LLC ("EnergyQuest") completed multiple acquisitions in Washington, Nowata, and Rogers counties of northeastern Oklahoma. EnergyQuest acquired the oil and gas assets of Eakin Exploration and Fountainhead. Oklahoma Processing EQR, an affiliate of EnergyQuest, was created for the acquisition of a 50% interest in each of the following companies: Bullseye Operating LLC, Gashoma LLC, Wild West LLC, White Hawk Gas LLC and Purgatory Creek Gas Company LLC. The acquisitions include oil and gas reserves, processing systems, gathering networks and increased ownership in Cotton Valley Compression LLC, an inter-state transporter of gas.

EnergyQuest and Bullseye Energy Incorporated will provide resources to jointly operate the acquisitions, which include 338 productive wells on 65,000 gross productive acres and three gathering networks with more than 150 miles of pipeline. The productive areas are less than 50% developed, and EnergyQuest has initially identified 273 additional drilling locations. EnergyQuest's acquisitions of existing production increased net proved reserves by 24 BCFE.

These acquisitions increase EnergyQuest's net daily production by nearly 30%, and give EnergyQuest interest in more than 770 productive wells. EnergyQuest now maintains in excess of 100,000 gross productive acres and over 330 miles of pipeline gathering systems. In addition to processing and transporting company production, EnergyQuest receives a fee for significant third party gas volumes processed and transported through its mid-stream assets. EnergyQuest has drilled nine new CBM wells this year with a 100% success rate and plans to drill at least 30 more wells by year-end.

EnergyQuest is a portfolio company of Houston-based Quantum Energy Partners. Quantum is a private equity firm specializing in the energy industry with more than $1.6 billion of capital under management.

For additional information concerning these transactions or to explore new opportunities with EnergyQuest, please contact Wayne Greenwalt (CEO) or Jerry Crews (COO) at 281-875-6200.