MEDIA RELEASE

Contact: Magan Matthews, Director of Public Relations  686.3566

Midland, Texas — Basic Energy Services has plans to demolition the old “Belt Buckle” building.

Founded in 1992, Basic Energy Services has grown to be the nation’s third largest well servicing contractor. The services they provide to oil and gas producers range from drilling to abandonment, the entire life cycle of a well.

The “ground breaking” event is scheduled to take place in the parking lot of the High Tower Building on Friday, February 8, 2008 at 11:00 a.m. The High Tower Building is located at 600 W. Illinois in Midland, TX. Parking will be available under the Mashburn Building (west of the High Tower Building) and on the west side of the Subsurface Library (600 West Ohio Avenue - north of the High Tower Building).

For more information, please contact Magan Matthews at 683.3381.