Aspen Group Resources Corporation

Aspen Group Resources Corporation

March 24, 2005 12:23 ET

Aspen and Westchester Report Froelich 1-27 Well Test Results


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: ASPEN GROUP RESOURCES CORPORATION

TSX SYMBOL: ASR

MARCH 24, 2005 - 12:23 ET

Aspen and Westchester Report Froelich 1-27 Well Test
Results

OKLAHOMA CITY, OKLAHOMA--(CCNMatthews - March 24, 2005) - Aspen Group
Resources Corporation (TSX:ASR) ("Aspen") and Westchester Resources Inc.
(TSX VENTURE:WSR) today announced that drilling and testing operations
on the Froelich 1-27 well in Stark County, North Dakota have been
completed. The well was drilled to a target depth of 9,645 feet where it
encountered the target formation. The well was cased and completed for
testing. The initial tests of the upper portion of the formation
indicated no commercial quantities of oil and gas. Under advisement of
consulting geologists, the well was drilled using a service rig to a
depth of 9,817 feet. Within that depth, three intervals were tested and
no commercial quantities of oil and gas were encountered. In addition, a
fourth interval located behind casing at approximately 9,300 feet was
tested and no commercial quantities of oil and gas were encountered. The
Froelich 1-27 well will be capped and abandoned. Drilling and completion
and abandonment costs totaled approximately US$1.6 million.

The Froelich 1-27 well was the first in a multi-well exploration program
Aspen and Westchester, through their joint venture arrangement (the
"Joint Venture") entered into with Oil for America, Inc. ("OFA") in
North Dakota. Although not commercially successful, the well does
provide valuable geological information on the target structures and
will aid the Joint Venture in selecting the next drilling location. The
Joint Venture is currently in the process of securing a drilling rig for
a second well, which is expected to be initiated by the end of the
second quarter of 2005, depending on rig availability.

"Although the first well was not a commercial success, we are still very
positive about our prospects in North Dakota," stated Robert Calentine,
CEO of Aspen. "We have an experienced team and several drilling targets
in an area with a history of success. We intend to thoroughly review all
the data from the Froelich 1-27 well prior to initiating operations on
the second well."

Aspen Group Resources Corporation is an independent oil and natural gas
producer engaged in the acquisition, exploration, production and
development of oil and natural gas properties in North America. Aspen's
shares trade on The Toronto Stock Exchange under the symbol "ASR".

Westchester Resources Inc. shares trade on the TSX Venture Exchange
under the symbol "WSR".

Portions of this document include "forward-looking statements", which
may be understood as any statement other than a statement of historical
fact. These statements are based on managements' current expectations
and are subject to uncertainty and changes in circumstances.
Forward-looking statements may include, but are not limited to,
statements concerning estimates of recoverable hydrocarbons, expected
hydrocarbon prices, expected costs, statements relating to the continued
advancement of the Joint Venture's projects and other statements which
are not historical facts. When used in this document, and in other
published information of Westchester and Aspen, the words such as
"could," "estimate," "expect," "intend," "may," "potential," "should,"
and similar expressions are indicative of a forward-looking statement.
Although Westchester and Aspen believe that their expectations reflected
in the forward-looking statements are reasonable, the potential results
suggested by such statements involve risk and uncertainties and no
assurance can be given that actual results will be consistent with these
forward-looking statements. Forward-looking statements contained in this
document are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995 and other applicable securities
laws. Certain factors that can affect Westchester's and Aspen's ability
to achieve projected results are described in Aspen's Annual Report and
Form 20-F, and other reports filed by both companies with the applicable
Canadian securities regulatory authorities and by Aspen with the US
Securities and Exchange Commission. Factors that can affect the ability
of Aspen and Westchester to achieve projected results include, among
others, production variances from expectations, uncertainties about
estimates of reserves, volatility of oil and gas prices, the need to
develop and replace reserves, the substantial capital expenditures
required to fund operations, environmental risks, drilling and operating
risks, risks related to exploratory and developmental drilling,
competition, government regulation, the ability of Aspen and Westchester
to implement its business strategy, the potential that projects will
experience technical and mechanical problems, geological conditions in
the reservoir which may negatively impact levels of oil and gas
production and changes in product prices and other risks not anticipated
by the Joint Venture or disclosed in published material of Westchester
or Aspen. Since forward-looking statements address future events and
conditions, by their very nature, they involve inherent risks and
uncertainties.

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