Fowler Oil & Gas Corp. To Create New Industry For Alaskans / AOGCC Issues CBM Drill Permit

Palmer, AK - Fowler Oil & Gas Corporation (FOG) announced recently that the State of Alaska agency that permits oil and gas wells, AOGCC, has just signed the permit for FOG to drill a coalbed methane gas well in the Matanuska Valley.

A similar permit was issued by the Mat-Su Borough in October of 2007. Both permits are needed in order to explore and produce coalbed methane gas in the Mat-Su Borough. All of the supplementary approvals that are required from various State and Federal agencies have already been received.

FOG uses eco-friendly drilling technology that was the core of their successful application for the Mat-Su Borough's historic, first-ever, CBM drill permit. The Borough has the most stringent CBM drilling regulations in the nation, if not the world.

This clears the way for Fowler Oil & Gas to proceed with the Kircher #1 well located on 840 acres of farmland in the Four Corners area of the Valley. The well is expected to be drilled and producing by early Fall of 2008.

"The Kircher #1 is the first step of FOG's corporate mission to contribute to a 'bright' future for Alaska residents," said Bob Fowler, CEO of Fowler Oil & Gas Corporation. "We want to create a new industry for Alaska that produces an abundance of clean fuel from Alaska's vast coal fields, while at the same time being eco-friendly, one that also reduces fuel and power costs, creates local jobs, creates a new tax base, and contributes to the future prosperity and well-being of all Alaska residents."

SOURCE: Fowler Oil & Gas Corporation