Press Releases

Significant Upside Potential - Producing 17+/- BOPD from 16 wells

December 22, 2009: National Commercial Auctioneers, LLC (NCA) is selling at a Bankruptcy auction multiple Oil & Gas Leases covering over 2,000 acres located in Creek, Wagoner, Tulsa, Muskogee, and Okmulgee Counties in Oklahoma. The leases produce 17+/- barrels of oil daily from 16 wells. The sale includes the leases and all of the equipment associated with each lease on the properties. Offered separately will be various equipment, including a Single-Pole Well Pulling Unit, fully equipped wand capable of operating to depths of 3,600 feet.

"With the right operator with adequate capital, certain extraction techniques could be used to enhance the production of these wells and create even more income and value for the new owner," comments Stephen Karbelk, CAI, AARE, President, NCA and Court-Appointed Auctioneer. "In addition to the 16 wells, there are 3 additional wells working or scheduled for operations, anticipating another 3 - 5 more barrels a day."

The Oil and Gas Leases are assets in the Bobby Rowe Energy, Inc. (09-81217) and Stephen Rowe Oil Properties, LLC (09-81218) Chapter 11 Bankruptcy Cases. The company is owned and operated by Stephen Rowe, the grandson of the company founder, the late Robert W. Rowe. The company has a rich history, starting with its founding in 1946 and growing to being one of the Top 400 oil and gas companies in the late 1980's.

The auction will be conducted at the US Bankruptcy Court in Okmulgee, Oklahoma on February 5, 2010 @ 10:00AM CST. In Bankruptcy, leasehold interests can be sold through the Assumption and Assignment process. The buyer will be given the "free and clear" protections of a 363 Bankruptcy sale and an Order from a Federal Judge granted them the rights and obligations under the leases. To obtain the bidding procedures and the available Property Information Package, prospective buyers should contact National Commercial Auctioneers at 877-897-7077 or visit their website at www.natcomauctions.com.

About National Commercial Auctioneers, LLC: NCA is a nationwide auction company that specializes in the sale of commercial real estate and land at auction for bankers, receivers and bankruptcy courts. In Texas, National Commercial Auctioneers, LLC trades as NCA Auctioneers.