Announcement

Richard S. Lindhome, President of Olean based Natural Resources Management Corporation is pleased to announce that Natural Resources Management Corporation has engaged in a series of oil and gas transactions in furtherance of its strategic objectives. Natural Resources Management Corporation has conveyed or assigned 9,572.97 acres of fee oil and gas rights and leasehold rights to Buffalo based Seneca Resources Corporation, Unit Petroleum Company of Oklahoma and East Resources, Inc. of Warrendale, PA.

The transactions provided for a cash infusion to be utilized in the acquisition of additional oil and gas rights. They also provided for the reservation of certain shallow production horizons and the right to receive a portion of the royalties on assigned acreage. Cumulatively, the transactions reflect the company’s position on the viability of the Marcellus shale play in Potter and McKean Counties. Also, in furtherance of its objectives, Natural Resources Management Corporation acquired 1666 acres of oil rights and 743 acres of natural gas rights, along with 200 acres of Fee lands in Keating Township, McKean County. The new acquisition has both shallow and deep drilling objectives.