Westchester Resources Inc.

Westchester Resources Inc.

March 04, 2005 12:30 ET

Westchester Resources Inc.: Aspen and Westchester Provide Preliminary Test Results


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: WESTCHESTER RESOURCES INC.

TSX VENTURE SYMBOL: WSR

MARCH 4, 2005 - 12:30 ET

Westchester Resources Inc.: Aspen and Westchester
Provide Preliminary Test Results

OKLAHOMA CITY, OKLAHOMA--(CCNMatthews - March 4, 2005) - Not for
dissemination in the US

Aspen Group Resources Corporation (TSX:ASR) (Aspen) and Westchester
Resources Inc. (TSX VENTURE:WSR) (Westchester) requested on March 2,
2005 that trading in their shares be halted pending the release of test
results on the Froelich 1-27 test well in North Dakota. Westchester has
been informed by the operator, Aspen, that the open-hole production test
was expected to commence late afternoon on Wednesday March 2nd, but was
postponed until the following day due to onsite equipment delays. The
upper portion of the formation was acidized and tested late Thursday
afternoon and evaluated overnight. The initial results indicated low
porosity and no commercial quantities of oil or natural gas in the upper
portion of the formation. The well is still under evaluation and it has
been determined that further drilling is required on the Froelich 1-27
well in order to complete the production test on the formation. The
drilling and testing will occur over the next 5-7 days.

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.

-30-

Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Aspen Group Resources Corporation
    Kevin O'Connor
    (877) 775-8734
    koconnor@aspengroupresources.com
    www.aspengroupresources.com
    or
    Westchester Resources Inc.
    Pat DiCapo
    (416) 860-1859
    The TSX VENTURE EXCHANGE has neither approved nor disapproved the
    contents of this press release.