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As previously reported, the Working Interest Owner has advised the Trust that the West Cameron Block 498 No.
Under the terms of the Agreement, the defaulting working interest owner has paid the amounts due for completion of the Pintail Flats #1 well to Petrosearch, and has been granted a two-week time period to settle its outstanding obligation on the Kallina 46 #1 totaling approximately $7.
Apache currently holds a 26 percent working interest in the unit and Vastar Resources Inc.
Gastar has a 100% working interest and 75% net revenue interest in the Donelson #2 well.
Whittier has an 18% working interest in the project.
Gastar has a 67% working interest with Chesapeake Energy Corporation (NYSE:CHK) owning the remaining 33% working interest.
Upon successful completion of the well, the Company will own 75% of the working interest in the well, which is equal to a 52.
Gas revenues recorded by the Working Interest Owner on the Trust properties decreased 80% to $560,132 in the first quarter of 2006 from $2,792,859 in the fourth quarter of 2005.