Beta Oil & Gas, Inc. Announces Additions to Management and Operations Group

<a href=new.stockwatch.com>Stockwatch 2003-04-02 15:30 ET - News Release

TULSA, Okla., April 2 /PRNewswire-FirstCall/ -- Beta Oil & Gas, Inc. ("Company") announced today, additions to the Company's management staff: Mr. Arthur W. "Bill" Howard as Operations Manager and Mr. Richard L. "Rick" Payne as Reservoir and Acquisitions Manager.

Mr. Howard has over 53 years experience in the oil and gas industry and was employed for the last 24 years with Grace, Shursen, Moore and Associates ("GSM"). Mr. Howard, while serving as manager of consulting engineers, worked on numerous projects involving all phases of drilling, completion operations and reservoir evaluation, both domestically and internationally. Previous to GSM, Mr. Howard was employed by Marathon Oil Company and held various engineering positions and ultimately was responsible for all engineering activities in the western U.S. and Canada. Mr. Howard holds his Bachelor and Master of Science degrees in Petroleum Engineering from the University of Tulsa and graduate studies toward a Master of Business Administration degree from Indiana State University. Mr. Howard flew combat missions as a Captain in the United States Air Force in World War II.

Mr. Payne has over 18 years experience in the oil and gas industry including 17 years with ARCO/BP followed by 1 year with Syntroleum Peru Holdings, Ltd (Syntroleum). Mr. Payne served as the General Manager responsible for the start-up operations in Peru for Syntroleum, where he hired and managed the in-country staff to support various LPG and GTL projects that were operated by the company. While at ARCO/BP, Mr. Payne held various engineering and management positions in Alaska, Texas and Venezuela and was ultimately the Exploitation Manager for BP responsible for the Boqueron Field in Eastern Venezuela. Mr. Payne led the subsurface and surface engineering teams supporting the development and operation of the Boqueron field. Mr. Payne holds his Bachelor and Master of Science degrees in chemical engineering from the University of Tulsa and Oklahoma State University respectively and has a Master of Business Administration degree from Southern Methodist University.

David Wilkins, President and CEO of Beta Oil & Gas, Inc. commented; "I am very excited to have both Bill and Rick joining our management team at Beta. Their experience and expertise are already working to optimize our current assets and they will play key roles in helping to identify additional exploitation and potential acquisition opportunities for our company in the future."

Beta Oil & Gas, Inc. is an independent energy company engaged in the production, development and exploration of oil and gas properties. For more information, please contact Steve Fischer at (918) 495-1011.

Forward-Looking Statement: This release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical facts, that address estimates of proved oil and gas reserves, future production, exploration drilling, exploitation activities, capital expenditures, gross unrisked reserve potentials, and events or developments that the company expects or believes are forward-looking statements. Although Beta believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include oil and gas prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. The Company has no obligation to update the statements contained in this report or to take action that is described herein or otherwise presently planned.

Beta Oil & Gas, Inc.

CONTACT: Steve Fischer of Beta Oil & Gas, Inc., +1-918-495-1011