Moncrief Oil International: Considers lodging an appeal in BASF hearing

Fort Worth, Frankenthal/Pfalz (Germany), 31 May 2007 Over the next view weeks, Moncrief Oil International will examine in detail the judge's comments in today's oral hearing before Frankenthal (Pfalz) District Court and will comment in a further written statement before this court in due time before the ruling on 5 July 2005. Moncrief Oil International welcomes the decision of the presiding judge to explicitly recognise its jurisdiction and the application of German Law in this case, as well as the judge's comment that the claim is not barred by the statute of limitations. If Moncrief Oil International fails to eliminate the doubts expressed by the court as to BASF being in violation of competition law, the family-owned business from Fort Worth, Texas is considering lodging an appeal before the competent higher regional court. Furthermore, against the backdrop of today's findings, Moncrief Oil International cannot exclude the possibility of bringing the claim before a Russian Court. End of Announcement Characters with spaces: 1.066 ABOUT MONCRIEF OIL INTERNATIONAL: Moncrief Oil International, Fort Worth, Texas, is one of the most successful family-owned oil and gas producers (exploration and production) in the United States. In its 60 years as a leading oil and gas explorer and producer, Moncrief Oil has discovered or played a prominent role in the development of numerous major oil fields all over the United States and abroad (e.g. Siberia, Azerbaijan). Founder and CEO of Moncrief Oil International is Richard W. Moncrief, a third-generation principal in Moncrief Oil and philanthropist. He is the current chairman of ALL AMERICAN WILDCATTERS, an organization of American oil and gas explorationists and producers. He has served on the Board of Directors of the Independent Petroleum Association of America and the Texas Commerce Bank. ANY QUESTIONS? Results: S. Holzinger! Stephan Holzinger, Speaker Tel. +49 (0)175 59 30 897 V.i.S.d.P.: Richard W. Moncrief, Director, Chairman and CEO of Moncrief Oil International, 301 Commerce Street, Suite 3600, Fort Worth, Texas 76102, T. +1 817 348 8454, F. +1 817 348 8464 Exclusion of Liability: Despite careful and regular checking, Results: S. Holzinger! does not assume liability or not take any guarantee for the completeness, correctness, or topicality of the information provided in this press release.