The Oil & Gas Asset Clearinghouse said it has sold more than $31 million in properties at its Hybrid auction held April 13 in Houston, TX. The Clearinghouse offered 128 lots at this Selective Offering(TM), including what it called “many higher-valued, notable properties.” Approximately 275 registered bidders competed on the properties, approximately 34% of which bid on the Internet and accounted for 67% of the gross sale proceeds. The Clearinghouse’s Hybrid Auction process allows Internet bidders the opportunity to compete simultaneously and on a real time basis against floor bidders. Some of the more notable properties sold include: EOG Resources — A total of 9 lots in Arkansas, Kansas and Oklahoma for a total of $5,285,000. MKD Farms — multiple well lot in Graham County, KS for $630,000. Peoples Energy — multiple well lot in Calcasieu Parish, LA for $1,100,000. Page Energy Partners — Stella Field in Plaquemines Parish, LA for $900,000. Thomas Operating — Sumatra Field in Rosebud County, MT for $1,050,000. Peak Energy — Powder River Basin Field in Campbell County, WY for $1,575,000. Kyle & Gayle Mansker — Causey Field in Bee County, TX for $1,600,000. ChevronTexaco — several lots in Texas for a total of $6,600,000. The Clearinghouse’s next Hybrid auction will be held on Wednesday, June 8, 2005 at the Sheraton North Houston Hotel. Information pertaining to upcoming auctions can be accessed on the Clearinghouse website www.ogclearinghouse.com .

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