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Ute Energy Names Joe Jaggers as President and Chief Executive Officer

DENVER, CO, (Marketwire - 07/01/10) - Ute Energy, LLC, a company jointly owned by the Ute Indian Tribe and affiliates of Quantum Energy Partners, announced today that its Board of Directors has named Joe Jaggers as the Company's President and Chief Executive Officer. Jaggers brings nearly 30 years of energy industry experience and most recently held the position of President and Chief Operating Officer of Bill Barrett Corporation (NYSE:BBG)a publicly traded independent producer.

In conjunction with naming Jaggers as President and CEO, Ute Energy completed a private placement with certain of its existing equity owners which will provide the financial flexibility to aggressively pursue upstream and midstream development opportunities and acquisitions in the Uintah Basin and in other select basins throughout the Rocky Mountains. Jaggers plans to expand the Company's presence in Denver and the company will build upon its existing asset platform by taking an increased role in operations going forward.

"I'm excited to be joining Ute Energy at this important stage in the company," said Joe Jaggers, President and CEO, Ute Energy. "This dedicated team has worked hard to position the company with a solid production and reserve base and the financial ability to take a more active role in operations. I'm proud to have the opportunity to build on these strengths and lead Ute into the next phase of expansion."

Curtis Cesspooch, Ute Business Committee Chairman and Ute Energy's Chairman of the Board, said, "Mr. Jaggers has the full support of the Ute Business Committee. His experience and proven leadership will put the company in a position to realize the Tribal vision of taking a more active role in the development of its mineral estate, which will provide long term benefits to Ute Energy and to the Tribe."

In announcing the addition of Jaggers to Ute Energy, Wil VanLoh, President and CEO of Quantum Energy Partners, stated, "Joe is one of the industry's top executives and he brings a wealth of experience to Ute Energy. We believe Joe is just the catalyst that Ute Energy needed to accelerate and lead the company's growth on its strategic asset base. Quantum has made a substantial commitment to Ute Energy and we are confident in Joe's ability to execute upon the company's strategy."

Ute Energy and Industry Hold Charity Golf Event to Raise Funds For Ute Tribal Scholarships

Fort Duchesne, Utah, June 14, 2010 - On Friday June 11th, 2010 Ute Energy LLC along with the oil and gas industry came out to support the 2nd Annual Ute Energy Classic Golf Tournament held at the Dinaland Golf Course, Vernal Utah.

The 4 man team scramble golf event was an effort by industry to raise funds for scholarships to be awarded to Ute college students. The event net proceeds were donated to the Ute Tribe’s Education Department to administer through its non-profit organization the Ute Seventh Generation Fund a 501 C 3 Corporation.

“The event was a tremendous success and the proceeds will go to help many Ute tribal students attending colleges and universities throughout the country who will become the next generation of leaders, we look forward to next year’s event” said Cameron Cuch, General Manager of Ute Energy.

27 teams participated in this year’s charity golf event. The winner of this year’s event:
First Place: Questar Pipeline:Brent Kitchen, Allan Bradley, Albert Bertagnolli, Rey Butcher.
Second Place: Harvest Natural Resources: Evan Frost, Harvey Frost, Wayne Henderso, Lorenzo Tony.
Third Place: Summit Energy: Curtis Chisholm, David Lillywhite, Jeff Thatcher, Jason Barnes.

Event Sponsors:
Platinum:
Bill Barrett Corporation
Ceritas Group
Chipeta Processing LLC
Harvest Natural Resources Inc
Newfield Exploration
Quantum Energy Partners
Questar
Quantum Resource Management
Uintah County Commission
US Bank
Anadarko
Ute Tribe Big Game Program
Berry Petroleum
El Paso
Purestream/RVC
Savage Services Corporation
Petroglyph

Gold:
Wells Fargo Bank
Fredericks Peebles & Morgan LLP
University of Utah
Bear Paw Construction
Neilson Construction
EKSH Auditors
Water Disposal Inc.

Silver:
Summit Energy
Strata
FIML
Moon Lake
Willies Hot Oil Service
Trinity Petroleum Management
Landmark Inn and Suites
Basin Sports

Acquisition Expands Marketing Capabilities in the Uinta Basin of Utah

DENVER, December 09, 2009 – Chipeta Processing LLC, a joint venture formed in 2008 by wholly owned subsidiaries of Ute Energy, LLC and Anadarko Petroleum Corporation, announced the acquisition of the Natural Buttes 101 Gas Processing Plant and more than five miles of 20-inch pipeline in the Greater Natural Buttes area of eastern Utah’s Uinta Basin. The $9 million acquisition of the El Paso-owned Colorado Interstate Gas (CIG) facilities provides Chipeta Processing with 125 million cubic feet per day (MMcf/d) of additional natural gas processing capacity.

“The addition of the Natural Buttes 101 Gas Processing Plant, coupled with the completion of the cryogenic plant earlier this year, expands our marketing capabilities and enhances our ability to bring these resources to consumers in an efficient and cost-effective manner,” noted Ute Energy’s President Richard Sherrill. “This acquisition continues to demonstrate the collaborative commitment and desire to work with the Ute Tribe and other stakeholders in the responsible development of these natural resources in the Greater Natural Buttes area.”

Chipeta Processing LLC is managed by Western Gas Partners, LP (NYSE: WES), a subsidiary of Anadarko Petroleum Corporation that holds a 51-percent interest. Anadarko Uintah Midstream and Ute Energy, a subsidiary of the Ute Tribe hold a 24-percent and 25-percent interest, respectively. Ute Energy is an investment of Quantum Energy Partners, Quantum Resources Management and the Ute Indian Tribe of the Uintah and Ouray Indian Reservation, Utah.

Ute Energy Drills four wells in Brundage Canyon

On October 7, 2008 Ute Energy, LLC a company majority owned by the Ute Indian Tribe completed the drilling of four new wells in Brundage Canyon. The drilling program was Ute Energy’s first as an operator in the Uinta Basin. Completions on all four wells are anticipated to be completed by the end of October.

Ute Energy is an affiliated oil and gas and midstream company of the Ute Indian Tribe along with Houston based Quantum Energy Partners and Denver based Quantum Resource Management.

“It's Ute Energy’s first attempt at becoming an operator in oil and gas development”, said Curtis Cesspooch, Chairman on behalf of the Tribal Business Committee.

"We are pleased with the early results of the four development wells and with the company’s ability to execute," said Don Sinclair, Ute Energy CEO. "The Tribe has aligned itself with successful operators in the past in a strategic step toward building their own energy company and today they are drilling wells for the very first time."

Brundage Canyon, within the Ute Tribe's reservation is governed under an Exploration and Development Agreement (“EDA”) between the Tribe and Ute/FNR LLC (a limited liability company between FIML Natural Resources, LLC as operator and Ute Energy, LLC). The EDA allows Ute Energy to propose wells and the right to operate and drill wells. Ute Energy initiated the four well Green River formation program and drilled all four wells as operator on behalf of Ute/FNR.

In the upcoming year, Ute Energy anticipates it will participate in more than 80 new wells on reservation land alongside its industry partners - Bill Barrett Corporation, Berry Petroleum, Questar, Ute/FNR, XTO, and Newfield. Ute Energy also plans to drill another 4-20 wells as an operator developing its own prospect area in Utah’s Uinta Basin.

Joint Venture Processing in the Uinta Basin of Utah

HOUSTON, June 28, 2008 – Wholly owned subsidiaries of Ute Energy, LLC (“Ute Energy”) and Anadarko Petroleum Corporation (NYSE: APC) announced that, effective June 1, 2008, they have formed Chipeta Processing LLC (“Chipeta”), a limited liability company, to operate a gas processing and delivery hub for the Greater Natural Buttes area of the Unita Basin of Utah. Ute Energy is an investment of Quantum Energy Partners, Quantum Resources Management and the Ute Indian Tribe of the Uintah and Ouray Indian Reservation, Utah. Anadarko, through its subsidiary is the operator and 75% owner, while Ute Energy holds a 25% interest in Chipeta. Chipeta owns an existing 250 MMcf/d refrigeration processing facility and is currently constructing a second 250 MMcf/d cryogenic processing facility scheduled for completion during the first quarter of 2009, and total capacity could be further expanded in the future.

This processing and delivery hub is intended to add value to Anadarko’s and the Ute Tribe’s reserves in the Uinta Basin.

Chipeta will also actively pursue and provide third-party service opportunities to other Uinta Basin producers.

“This announcement demonstrates Anadarko’s and Ute Energy’s commitment and desire to work with the Ute Tribe and other stakeholders in the responsible and profitable development of its natural resources,” Ute Energy’s President Don Sinclair said.

“The Ute Tribe Business Committee is pleased to support this investment through Ute Energy and our partner Anadarko. We believe it will lead to continued growth in the Uinta Basin” said Curtis Cesspooch, Chairman of the Ute Tribe Business Committee.