Teton provides operational update

Teton Energy Corporation produced 422 million cubic feet equivalent (”MMcfe”) in the first quarter of 2008, a 108 percent increase from 203 MMcfe in the first quarter of 2007. The increase was attributable to the Washco, Piceance, DJ Noble and Williston projects.

The Company participated in the drilling of 24 gross wells in the first quarter of 2008 and had 162 producing wells at the end of the quarter, a 500 percent increase in producing wells from the first quarter of 2007. The first quarter of 2008 does not include any results from the new Central Kansas Uplift acquisition as March results will be a purchase price adjustment. The Kansas acquisition will have a very positive impact on operational and financial results in the second quarter of 2008.

Piceance Basin. Net production increased 34 percent to 264 MMcfe in the first quarter compared to the same period a year ago, even after accounting for the sale of 50 percent of Teton’s interest in the Piceance Basin in October 2007. The Company participated in the drilling of 11 new gross wells in the first quarter of 2008. A total of 57 gross wells were producing and 17 gross wells were waiting on completion as of March 31, 2008.

Source : www.teton-energy.com/