NEW FRONTIER PROGRAM

Utica Shale (60 -- 100% WI) -- Forest has drilled all three horizontal wells and is on schedule with its previously announced plan to commence fracture stimulating wells in the fourth quarter of 2008. Results of Forest's drilling program are expected to be available by year end 2008. After the completion of the 2008 horizontal drilling and fracture stimulation program, and assuming favorable test results, Forest expects to commence a pilot horizontal program in 2009 with full scale development expected to begin in 2010.