2050
S. Oneida St., Ste. 208
Denver,
CO 80224-2426
Telephone: (303)
639-9860
Fax: (303)
639-9863
Email: aecorp2@qwest.net
Web
Site: www.aspenexploration.com
FOR IMMEDIATE
RELEASE:
DENVER, COLORADO, October 3, 2007. Aspen Exploration Corporation (OTCBB: ASPN), with offices in Bakersfield,
California and Denver, Colorado, announced today that in the September 17, 2007 issue of the Oil & Gas
Journal (OGJ), Aspen was ranked 12th Fastest Growing company for
2006 based on percentage growth in stockholders’ equity. Aspen was one of only six companies (out of
144 companies on the list) that were on the fast-growers list for at least the
second consecutive year. The OGJ
annually ranks U.S. based, publicly-traded oil and gas producers in its
"OGJ200" article. Although
primarily ranked in terms of assets, companies are additionally ranked on
eleven other benchmarks including the fastest growing category. Aspen was ranked 8th based on
return on total revenue and 115th in terms of assets (up from 120th
last year).
Future news
releases will keep shareholders informed of Aspen’s continuing progress and
drilling activity. Aspen’s stock is
quoted on the OTC Bulletin Board under the symbol ASPN.OB. For more information concerning Aspen, contact
Bob Cohan, President and CEO, in Aspen’s Bakersfield office at (661) 831-4669. Aspen’s web page can be found at www.aspenexploration.com.
* * * END * * *
DISCLAIMER
This news release contains
information that is “forward-looking” in that it describes events and
conditions, which Aspen Exploration Corporation (“Aspen”) reasonably expects to
occur in the future. Expectations for
the future performance of the business of Aspen are dependent upon a number of
factors, and there can be no assurance that Aspen will achieve the results as
contemplated herein and there can be no assurance that Aspen will be able to
conduct its operations or production from its properties will continue as
contemplated herein. Certain statements
contained in this report using the terms “may,” “expects to,” and other terms
denoting future possibilities, are forward-looking statements. The accuracy of these statements cannot be
guaranteed as they are subject to a variety of risks, which are beyond Aspen’s
ability to predict, or control and which may cause actual results to differ
materially from the projections or estimates contained herein. These risks include, but are not limited to:
the possibility that the described operations (including any proposed
exploration or development drilling) will not be completed on economic terms,
if at all, or the estimates of reserves may not be accurate. The exploration for, and development and
production of, oil and gas are enterprises attendant with high risk, including
the risk of fluctuating prices for oil and natural gas, imports of petroleum
products from other countries, the risks of not encountering adequate resources
despite expending large sums of money, and the risk that test results and
reserve estimates may not be accurate, notwithstanding appropriate precautions. Many of these risks are described herein and
in Aspen’s annual report on Form 10-KSB, and it is important that each person
reviewing this report understand the significant risks attendant to the
operations of Aspen. Aspen disclaims
any obligation to update any forward-looking statement made herein.