Aspen Group Resources (ASRPF)

[Amaunet]

Aspen Group News Release
Monday November 18, 9:04 am ET


OKLAHOMA CITY, Nov. 18 /PRNewswire-FirstCall/ -- Aspen Group Resources Corporation, (OTC Bulletin Board: ASPGF - News; Toronto: ASR - News; "Aspen" or "the Company"), announced today that it does not expect to file its third quarter 10-Q for the period ended September 30, 2002 with the Securities and Exchange Commission (SEC) until the end of this month. Aspen trades on the Toronto Stock Exchange in Canada, and is not obligated to file its third quarter financial statements in Canada until the end of November. Aspen's recently appointed interim CEO, at the direction of Aspen's board of directors, has been reviewing certain transactions with financial consultants retained by Aspen. As soon as that process is completed, Aspen will then file the September 30, 2002 interim financial statements with the SEC, and in Canada as required.
Aspen Group Resources Corporation is an independent Oil and Natural Gas Producer engaged in the Acquisition, Exploration, Production and Development of oil and natural gas properties in the Mid Continent Region in the US and Western Canada. Aspen's shares trade on The Toronto Stock Exchange under the symbol ASR and on the OTCBB under the symbol ASPGF.

Additional information on Aspen Group Resources Corporation is available from:

Kevin O'Connor Carla Driedger
877-775-8734 Corporate Secretary
[e-mail] 403-777-9152
[e-mail]

Or visit the Company's website at www.asgrc.com .