Name: Summit Gas Resources, Inc.
Address: 1 E Alger St, Sheridan, WY, 82801-3911, USA
Telephone: (307) 673-9710

Our History

A publicly traded corporation headquartered in Sheridan, Wyoming, Pinnacle Gas Resources, Inc. was formed in June of 2003 through a contribution of property by CCBM, Inc., a subsidiary of Carrizo Oil & Gas, Inc. (NASDAQ:CRZO), and Rocky Mountain Gas, Inc., a subsidiary of U.S. Energy, Inc. (NASDAQ:USEG), and a capital contribution by Credit Suisse First Boston.

At the time of formation, Pinnacle acquired a 50% operating interest in the Powder River Basin properties of Gastar Exploration, LTD (AMEX:GST) and its affiliates.

As of December 31, 2006, Pinnacle owned interests in 529 gross (281 net) producing coalbed methane wells, operating 98% of those wells, and held an interest in approximately 454,000 gross (308,000 net) acres in the Powder River and Green River Basins in Wyoming and Montana. Pinnacle is one of the largest holders of CBM acreage in the Powder River Basin of Wyoming and Montana.

We have completed three significant acquisitions since our inception:

In June 2003, we acquired approximately 57,000 gross (22,000 net) acres along with 210 gross (96 net) producing wells and shut-in wells in Wyoming from Gastar Exploration, LTD. and certain of its affiliates.

In March 2005, we acquired approximately 223,000 gross (196,000 net) undeveloped acres for prospective CBM development in Montana and Wyoming from a subsidiary of Marathon Oil Corporation.

In April 2006 we acquired approximately 30,000 gross (29,000 net) undeveloped acres for CBM development in Green River Basin from Kennedy Oil Company, Inc. As part of the acquisition, we also acquired 20 shut-in wells.

Summit Gas Resources, Inc.

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