NEW YORK, Dec. 4, 2007 (PRIME NEWSWIRE) -- Warren Resources, Inc. (Nasdaq:WRES) announced today that on November 30, 2007, the United States Federal Court for the District of Columbia (the "Federal Court") issued an order denying the requests for preliminary injunction in the suit filed in the Federal Court by the Natural Resources Defense Council, Biodiversity Conservation Alliance, Wyoming Outdoor Council, Western Watershed Project and Wyoming Wilderness Association. The requests for preliminary injunction sought a stay covering all drilling and development activities authorized by the Record of Decision of the Final Environmental Impact Statement ("FEIS") for the Atlantic Rim Natural Gas Development Project issued by the Bureau of Land Management ("BLM"). The Federal Court denied the parties requests for preliminary injunction, and held that the environmental groups failed to show that they were likely to succeed on the merits of their arguments and claims.
Mr. Norman Swanton, Chairman and CEO, stated, "We were very pleased with the Court's well reasoned decision. The District BLM office has now issued approved permits to Anadarko Petroleum, our joint venture partner in the Atlantic Rim CBM project, to drill 75 CBM development wells in the successful Sun Dog Unit. We expect that these wells will be completed before winter stipulations take effect on March 1, 2008. Additionally, we will be participating in drilling 33 additional CBM development wells in the adjacent Cow Creek (Catalina) Unit. We believe that this development program should go a long way to substantiate that the Atlantic Rim project contains a vast natural gas reservoir, at a time when dependence on foreign sources of energy comes at an increasingly higher social, political and human cost.
"I believe that our Atlantic Rim project, under strict controls as to the possible project impacts, will facilitate local energy production, which will be of direct benefit to the general public's convenience and welfare."
About Warren Resources
Warren Resources, Inc. is a growing independent energy company engaged in the exploration and development of domestic natural gas and oil reserves. Warren is primarily focused on its coalbed methane properties located in the Washakie Basin in the Rocky Mountain region of Wyoming and its water flood oil recovery programs in the Los Angeles Basin of California. The Company is headquartered in New York, New York, and its exploration and development subsidiary, Warren E&P, Inc., has offices in Casper, Wyoming and Long Beach, California.