Crawford Energy is a Houston-based E&P company founded in 1986 by A. Gail Crawford. Our current exploration program is focused in the onshore Texas and Louisiana Gulf Coast areas. Historically, we have worked in North, East, South-Central Texas in addition to the Gulf Coast. As of August 2004, we have successfully completed 30 out of 35 wells drilled by our subsidiary, Crawford Energy Operating Company.

We have recently contracted to reprocess approximately 650,000 acres of 3-D seismic data. We are working with geologists and geoscientists who are utilizing advanced technology to analyze this data. This technology utilizes Prestack Time Migration to improve data accuracy in order to help identify hydrocarbon indicators.

We believe that in the current market, investment via the drillbit is the most economically efficient manner in which to build our reserve base. However, by remaining focused and lean, we will be able to take advantage of any opportunities caused by changes in the market.