Las Colinas Capital Management, LLC Contests Encore Acquisitions Recent Decision to Examine Strategic Alternatives

IRVING, Texas, June 4 /PRNewswire/ -- Encore Acquisition's recent announcement seeking potential suitors is ill advised according to Robert J. Kecseg of Las Colinas Capital Management, LLC. The company's hiring of Lehman Brothers to consider "strategic alternatives" is not in the best interest of the share holders considering the fact that the company has amassed 208,000 acres in the Tuscaloosa Marine Shale and has reported only one test well to date. According to Mr. Kecseg, "EAC has drilled a second well on the property dating back to May 8th, 2008 and the results have yet to be reported to shareholders." In addition, the company has stated its plan to drill 300 to 600 wells on the property which, by all indications, are potentially a large oil resource play. By not continuing the process of evaluating the Tuscaloosa Marine Shale play, utilizing the very same technology which has made the company enormously successful in the recent past, we believe that Encore is leaving money on the table. As shareholders, we believe the company has a fiduciary responsibility to further develop the property in order to know exactly what we own.

Las Colinas Capital Management, LLC is a Registered Investment Advisory serving institutions and high net worth Individuals based in Irving, Texas.

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Source: Las Colinas Capital Management, LLC

CONTACT: Robert J. Kecseg, President & Portfolio Manager of Las Colinas
Capital Management, LLC, +1-972-887-9380

2008-06-04 07:11:37 0376944 PRNEWSWIRE