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Field Testing Innovative Oil Shale Technology
January 24, 2007

E.G.L. Resources, Inc. (EGL), a privately owned, independent oil company trying to develop technology that can lead to producing shale oil on a commercially viable and environmentally sustainable basis, and the Bureau of Land Management (BLM) have entered into a 160-acre Oil Shale Research, Development and Demonstration (R,D&D) lease in Rio Blanco County, CO. The ten year lease affords EGL the opportunity to demonstrate its innovative oil shale technology in the field. Upon completion of this demonstration, the economic and environmental viability of EGL’s technology will enable them to expand their lease to 5,120 acres for commercial development and to produce shale oil in commercial quantities. EGL is among four of the twenty firms that remain, who originally proposed their technology and development plans to BLM.

Oil shale is a mineral that contains a solid hydrocarbon that requires heating to high temperatures to produce oil and gas. It is similar to the oil sands in Alberta, Canada where a partnership between government and business has resulted in a one million barrel per day industry. The resources of oil shale in Colorado are immense and rival the oil reserves in the Middle East. An acre of ground on EGL’s lease contains about two million barrels of shale oil resource, of which, about 60 percent is estimated to be recoverable with the EGL Oil Shale Process, for which a patent application is pending.* Past efforts to commercialize oil shale in Colorado were based upon mining and surface processing methods and failed for a number of technical, economic and environmental reasons. EGL’s approach is to recover the shale oil underground, without mining, by using modern oil and gas drilling as well as completion and
recovery technologies not available to earlier developers.

In the last several months, an Environmental Assessment for the
project was conducted by BLM, during which, public meetings were held in several Colorado communities. Site Characterization activities are currently projected to begin in the field in 2007/2008. In the interim, research and planning will be continued to optimize conditions for the field test.

About E.G.L. Resources, Inc.

EGL is with operations in the southwestern US. E.G.L. Oil Shale, LLC is the wholly owned
subsidiary overseeing oil shale operations in Western Colorado. Their goal is .

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