Masters Energy Inc. Announces Enhanced Oil Recovery Project

Masters Energy Inc. (TSX:MSY) (“Masters” or “the Company”) has contracted an engineering consulting firm, specializing in enhanced oil recovery, to evaluate the Company’s oil producing property at Little Bow. The Little Bow property has produced for a total of 30 years and has been under waterflood for 25 of those years. The Company currently produces 700 barrels per day of crude oil at Little Bow.

Core studies to date, indicate that an Alkaline Surfactant Polymer (“ASP”) flood could significantly enhance the recovery of oil. The consultant has completed a fluid study and an initial core analysis that indicate the ASP fluids are compatible with the fluids and rock characteristics of the Little Bow reservoir and that the reservoir is a very good candidate for an ASP flood.

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