Contact Information: Contact: Doug Krenek (713)586-6663
Tempo Resources, Ltd. Acquires North Texas Gas Properties
| Source: Chalker Energy Partners II, LP
HOUSTON, TX -- (MARKET WIRE) -- January 30, 2007 -- Tempo Resources, Ltd., a privately held limited
partnership owned by Chalker Energy Partners II, LP, Adron Temple, Jr. and
Nelson Oliver, today announced its recent acquisition of natural gas
properties from Engas Corporation and Chalker Energy Partners II, LP.
The properties, located in the shallow Strawn and Conglomerate gas trends
of North Texas, consist of producing and undeveloped leasehold in Palo
Pinto, Parker, Archer and Jack Counties, Texas. Current net production
totals approximately 1 Mmcfe per day from 40 producing wells and net proved
reserves are estimated at approximately 5.6 Bcfe. The properties include
approximately 50 additional drilling locations and 40 re-completion
opportunities on approximately 10,000 net acres. The properties are 100%
operated.
Tempo Resources, Ltd. has opened an office in Mineral Wells, Texas and
plans to aggressively exploit the current asset base and grow the company
through acquisitions, additional prospect development and drilling. Tempo
Resources GP, LLC will be the operator of record. For additional
information, please contact Nelson Oliver, Vice-President of Land and
Business Development for Tempo Resources at (940) 325-8770.
About Chalker Energy Partners II, LP
Chalker Energy Partners II, LP is an oil and natural gas acquisition,
exploitation, development and production company headquartered in Houston,
Texas. Chalker Energy Partners is a privately held portfolio company of
Quantum Energy Partners. To learn more about Chalker Energy Partners,
please visit www.chalkerenergy.com.
About Quantum Energy Partners
Founded in 1998, Quantum is an investment firm specializing in the energy
industry with over $3.2 billion in capital under management, of which $2.0
billion is in its family of private equity funds and $1.2 billion is in its
direct property acquisition fund, Quantum Resources. Quantum primarily
targets investments in the oil & gas sector, while also considering
opportunities in the midstream, oil field service, coal, power, and
alternative energy sectors. To learn more about partnering with Quantum
Energy Partners, please contact either S. Wil VanLoh, Jr. or Alan L. Smith
at (713) 225-4800 or visit Quantum's website at www.quantumep.com.