Aspen Group Resources Corporation
TSX : ASR

Aspen Group Resources Corporation

April 09, 2009 14:53 ET

Aspen Files Financial Results for December 31, 2008

Also updates interest in 6 gas wells in Oklahoma

CALGARY, ALBERTA--(Marketwire - April 9, 2009) - Aspen Group Resources Corporation (TSX:ASR) ("Aspen" or the "Company") announced today that it filed it December 31, 2008 audited financial statements and related materials on SEDAR as required and may be accessed by visiting the SEDAR website at www.sedar.com.

Aspen also announced that following the audit process, it was determined that its working interest in 6 gas wells in Oklahoma that have been drilled by Conoco-Phillips was less than originally Aspen was advised as disclosed in a press release dated November 20, 2008. Aspen had recently discovered that it retained a small interest in the leases from a previous sale, and upon further investigation Aspen received confirmation of its interest. These 6 gas wells were drilled in 2007 and 2008, and Aspen had originally been advised that its share of the drilling cost to be US$1,027,427. In fact following completion of its December 31, 2008 audit, it has been determined Aspen's share of the drilling cost is actually US$527,895. In addition, the December 31, 2008 audited results have determined that these wells have produced revenue to Aspen of US$249,957 to the end of December 2008. Aspen's management continues to believe these wells will be an important addition to its going forward plan and will help Aspen to reenter the US market.

Aspen currently has 84,074,787 common shares outstanding.

Aspen Group Resources Corporation is an independent energy company engaged in the acquisition, exploration, development and operations of oil and gas properties with a geographic focus in North America. Aspen's shares trade on the Toronto Stock Exchange under the symbol "ASR".

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