Great Western plans for continued growth of its reserve base through exploration and development drilling and strategic acquisitions.

Primary area of interest and operations is the Permian Basin but also includes the Gulf Coast of Texas, Rocky Mountain regions and Oklahoma.

Great Western is active in the generation of drilling prospects in its core areas.  The company also participates in outside generated drilling and 3-D seismic ventures in the areas mentioned.

Acceptable parameters for drilling prospects include sound subsurface data with associated seismic coverage, 3-D seismic is desirable, but not mandatory.

Great Western is an experienced, low cost operator, however, operations are not necessary to secure participation in any deal.

Preferred acquisitions will include existing production with development potential.  Exploitation of acquired properties has resulted in lower operating costs and lower production declines on mature properties.

Property trades will be considered and where possible, like-kind tax deferred exchanges will be utilized.