2004 NEWS RELEASES

December 22, 2004

Kelso completes flow-through share financing and provides operations update

November 22, 2004

Kelso drilling success and first quarter financial results

October 20, 2004

Kelso announces results for year ended June 30, 2004

August 20, 2004

Kelso provides operational and drilling update

July 5, 2004

Kelso announces CFO appointment, changes to the Board of Directors, granting of options and operational update

May 13, 2004

Kelso announces closing of $4 million private placement equity offering

May 10, 2004

Kelso announces graduation to the tier 2 venture exchange and third quarter financial and operating results

April 20, 2004

Kelso announces first production

April 19, 2004

Kelso announces unit and flow-through share financing

March 26, 2004

Kelso announces successful drilling results

Feb 10, 2004

Kelso announces Mr. Tim Granger has joined the Board of Directors

Feb 09, 2004

Kelso reports significant operational progress