Approach Resources, Inc. (AREX)

Approach Resources, Inc. engages in the acquisition, exploration, development, exploitation, and production of natural gas and oil properties. It holds interest in the Ozona Northeast field in Crockett and Schleicher counties, Texas; and has options to lease 22,000 gross acres in the Cinco Terry project. The company also has interest in the Boomerang prospect, which consists of 74,000 gross acres in New Albany Shale play located in western Kentucky. In addition, it has interest in the El Vado East prospect, which is a 90,000 gross acre Mancos Shale play located in the Chama Basin in northern New Mexico. At December 31, 2006, the company owned working interests in 241 gross producing wells, and total developed and proved reserves of 148.8 billion cubic feet of gas equivalent. Approach Resources Inc. was founded in 2002 and is based in Fort Worth, Texas.