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News release:

Press Release Source: Colorado Wyoming Reserve Company


Colorado Wyoming Reserve Company Seeks to Unitize New Zone Following the BLM Approval of 3rd Mississippian Test Well at Its Southwest Lisbon Discovery, San Juan County, Utah
Wednesday May 24, 9:00 am ET


GRAND JUNCTION, Colo., May 24 /PRNewswire-FirstCall/ -- Colorado Wyoming Reserve Company (OTC Bulletin Board: CWYR - News) is seeking BLM approval to unitize a potentially productive new zone at its Southwest Lisbon discovery. The original two discoveries found production in the Mississippian zones at 8,150' as well as possible production in zones at 7,500', at 7,000' and the Ismay zone at 5,100'.
The Southwest Lisbon structure is 3 1/2 miles southwest of the 150 million barrel Lisbon oil field discovered in 1960.

The Southwest Lisbon structure is one of six structures identified by CWYR and its partners' state-of-the-art 3D seismic shoot perfected in late 2004. The remaining five structures need to be tested.

The acreage is owned.

CWYR owns 10.625% APO (after payout) in structures one and two and owns 42.5% in the remaining four structures.

An active drilling program is anticipated for 2006 and 2007.

Commenting on the future, Kim M. Fuerst, the Company's President and CEO stated simply, "The only thing holding us back is not vision or manpower, but money, and that problem won't last long because our science is excellent."


Additional information may be found at: http://www.coloradowyomingreserve.com/