Press Release

2003 Scholarships

Citizens of the West

2004 Scholarships

Change of Partnership

FOR IMMEDIATE RELEASE

TRUE COMPANIES

May 2007 -- The Partners of True Oil LLC are pleased to announce the promotion of Tom Walker to the position of Manager of that company. Tom will replace Claud Pickard who is retiring this summer following many years of dedicated and valued service.

Tom joined the True organization in 1980 and has served as Land Manager since 1984. He graduated from Denver University with both Bachelor and Master degrees in Business Administration and has since been a member of the American Association of Petroleum Landmen, Wyoming Association of Petroleum Landmen (serving as its President), Rocky Mountain Mineral Law Foundation and the Independent Petroleum Association of America.

True Oil LLC is an oil and gas exploration and production independent with its main office in Casper, Wyoming. Its history stems back over a half century when H.A. "Dave" True, Jr. and his wife, Jean, struck out on their own in this industry. Through decades, its reach and that of other True companies has spread across and outside of the Rocky Mountain area.

Hank and Dave True, Partners of True Oil LLC, express their gratitude to Claud Pickard for his many years of service and look forward to Tom's succession into the position of Manager.

July 5, 2006

Contacts: Hank True: 307/237-9301
Dave True: 307/237-9301

Hank and Dave True are pleased to announce that they have recently completed the purchase of True companies’ ownership interests previously held by Diemer True and his two sons, Kip and Kyle True. The process of reaching this successful transition began last fall when the sellers made the decision to leave the family-owned group of companies in order to go out on their own to form other various business ventures.

Hank and Dave are continuing in the family tradition of looking towards the future with the True companies that provide over 1200 jobs in Wyoming and throughout the United States. “We are excited about what the future holds for the True companies, the people who make this organization such an outstanding group of enterprises and our family” stated Dave True in reflecting on the results of this transition. Hank added his comments surrounding the future, “With the quality of people in the True companies, the future is bright and we are enthusiastically looking towards what is around the next corner.”

The True companies are a group of enterprises focused in the energy, financial services and agriculture industries that was begun by H. A. “Dave” and Jean True in 1948 with an interest in a small drilling contracting firm located in Casper, Wyoming. The family has grown the businesses over the decades to the point that they reach into 24 states and have had operations in 3 foreign countries. “We are proud of the heritage behind this family organization and believe that there is a great deal yet to come in the way of benefiting our employees, their families and the industries in which we are involved”, commented Hank.

The primary entities making up the True companies include True Drilling, True Oil, Hilltop National Bank, Eighty Eight Oil, Black Hills Trucking, Equitable Oil Purchasing, Toolpushers Supply, True Ranches, Belle Fourche Pipeline and Bridger Pipeline. Dave continued, “This group of operations stretches from the Canadian border to the Gulf of Mexico shores. Not only is there great geographical diversity to our enterprises, there is a great depth, also. Our roots go back a long time and we believe they will help us expand into the future. We are looking forward to the challenges and opportunities lying in front of us. Considering the great group of people with whom we work as well as our customers and vendors, the future looks quite bright for this group of family businesses.”

Previous Releases

SIVERTSON EARNS PROMOTION

CASPER, WYOMING. PAUL SIVERTSON has been named Operations Superintendent for Equitable Oil Purchasing Company. Sivertson has been with Equitable Oil since 1998, bringing with him a strong marketing background in North Dakota and Montana. He attended college in North Dakota, where he served on the Task Force of the Montana State Petroleum Marketers, and the Montana State Board for Energy Share. Sivertson oversees the purchase and sales of light oil and distillates for Equitable Oil. He earned the Wyoming Mining Association’s “Salesman of the Year” for 2002-03. Paul and his wife Velda and their two children make their home in Casper and enjoy family camping, boating, and fishing. Paul enjoys the outdoors and is an avid golfer.

May, 2007

FOR IMMEDIATE RELEASE—H. A. (Hank) True, III and David L. True, partners, recently announced the names of the recipients of the True Companies Children of Employee Scholarships for the 2007-2008 academic year. Those receiving the employee scholarships are Jaclyn C. Alisch of Chester, Montana; Evan M. Condelario, Jennifer A. Dundas, Alex L. Martin, and Jeffrey R. Stamp of Casper; Kathryn C. Ertman and Joseph R. McColley of Newcastle; Mike R. Evenson of Spearfish, South Dakota; and Jake D. Wolff of Culbertson, Montana. Single “family” scholarships were awarded to Rayel M. McPeters and Ryley A. McPeters of Upton and to Aaron L. Meyer and Alison M. Meyer of Dickinson, North Dakota.

The partners said there were 36 applications for 11 scholarships. The selection of the winners was made by a scholarship committee including Mrs. Carol L. Tarantola, Senior Lecturer in the Communication & Mass Media Department of the University of Wyoming–Casper College Center, Chairman; Mr. Willis Hughes, Moorcroft, Wyoming businessman; and Charles Townsend, officer of the Townsend Company, Inc. (a family corporation involved in ranching, retailing, general oil field services, and oil production) and Wyoming State Senator. The winners were selected on the basis of scholastic attainment, intelligence, merit, need, and their potential for success in and after college.

This is the forty-seventh year these scholarships have been awarded, and they are in the amount of $1,500 each. Students may use the scholarship at any accredited four-year college or university or at any accredited two-year college. Selection of the college or university is determined by the student. The partners pointed out that the employee scholarships are grants and do not in any way obligate the recipient to the True Companies. All children of employees with three or more years of service are eligible to apply for the scholarships. The applicant must be a graduate from an accredited high school.

The employee scholarships are donated by the company in addition to direct scholarship grants of $2,500 made each year to both Casper College and the University of Wyoming. The annual grants are distributed directly by the receiving institutions.

December 2, 2005

Hank and Dave True announce that effective January 1, 2006 they have agreed to purchase all the interests in the various True companies currently owned by Diemer, Diemer “ Kip” Jr., and Kyle True. The purchase procedure will be in accordance with long standing written agreements. The transaction is to be completed by July 1, 2006.

The announcement emphasizes Hank and Dave True’s conscious decision to retain private family ownership of all the related True companies. Founded in 1948 by their father, H.A. “Dave” True Jr., Hank and Dave will continue to own and manage all the existing enterprises.

Diemer True is currently an officer in the True companies including serving as President of Toolpushers Supply Company, Inc and Black Hills Trucking Inc. Diemer “Kip” True Jr. currently serves as Executive Vice President at Hilltop National Bank. Kyle True currently serves as Assistant Manager for True Oil LLC. All three selling partners will stay with the companies to help with the transition for a period of time.

This is a friendly purchase and sale, prompted by Diemer’s and his sons’ interest in closer working relationships in the next phase of their careers. Diemer told several company managers recently, "I've had the unique and gratifying experience of working many years with my Dad and many years with my brothers. I'd also like to work several years directly with my boys." Diemer, Kip and Kyle expect to pursue new business ventures together late in 2006.

The entire True family is committed to do everything reasonably possible to retain the family ownership and the management structure of the various True companies. A partial list of the True companies includes Belle Fourche Pipeline, Black Hills Trucking, Inc., Eighty Eight Oil Company LLC, Equitable Oil Purchasing Company LLC, Hilltop National Bank, Toolpushers Supply Company Inc., True Drilling LLC, True Oil LLC, True Ranches, and others. The True companies currently employ approximately 1200 people throughout the Rocky Mountain region, Texas , Oklahoma , Louisiana and Mississippi .

Previous family ownership changes within the True companies have successfully taken place in 1970, 1971, 1984, 1993, 1994 and 2002.

October 17, 2005

The Partners and Members of Belle Fourche & Bridger Pipeline have announced the promotion of Darin Schiller, Gillette , Wyo. , to Assistant Pipeline Superintendent for Belle Fourche Pipeline Co. and Bridger Pipeline LLC. Schiller has been with Belle Fourche for 20 years. He started as a gauger in 1985 while completing his degree at Black Hills State University . Schiller was most recently the Field Superintendent for the Gillette/Newcastle area. Schiller will assist Lyle Sessions with the field operations of the pipeline group. He will oversee crude oil transmissions, construction projects, safety, maintenance and inspections. Belle Fourche and Bridger Pipelines are a part of the True Companies of Casper , Wyoming operating over 3,400 miles of pipeline systems in western North Dakota , eastern Montana and Wyoming .

May, 2006

FOR IMMEDIATE REALESE-H. A. (Hank) True, III and David L. True, partners, recently announced the names of the recipients of the True Companies Children of Employee Scholarships for the 2006 - 2007 academic year. Those receiving the employee scholarships are Yajaira Diaz of Eagle Pass, Texas; Robyn L. Gray of Sundance; Tara M. Hill of Watford City, North Dakota; Cooper B. Jones of Gillette; Stefanie M. Kauffman, Bree M. Phillips, and David H. Stamp of Casper; Ian M. McQueary of Ruby Valley, Nevada; Lisa M. Sisson of Moorcroft; Dallie R. Vallier of Rock River; and Kristin A. White of Williston, North Dakota.

The partners said there were 28 applications for 11 scholarships. The selection of the winners was made by a scholarship committee including Mrs. Carol L. Tarantola, Senior Lecturer in the Communication & Mass Media Department of the University of Wyoming-Casper College Center, Chairman; the Honorable Clifford P. Hansen, former U.S. Senator of Jackson, Wyoming; Mr. Willis Hughes, Moorcroft, Wyoming businessman; and Charles Townsend, officer of the Townsend Company, Inc. (a family corporation involved in ranching, retailing, general oil field services, and oil production) and Wyoming State Senator. The winners were selected on the basis of scholastic attainment, intelligence, merit, need, and their potential for success in and after college.

This is the forty-sixth year these scholarships have been awarded, and they are in the amount of $1,500 each. Students may use the scholarship at any accredited four-year college or university or at any accredited two-year college. Selection of the college or university is determined by the student. The partners pointed out that the employee scholarships are grants and do not in any way obligate the recipient to the True Companies. All children of employees with three or more years of service are eligible to apply for the scholarships. The applicant must be a graduate from an accredited high school.

May 19, 2005

FOR IMMEDIATE RELEASE—H. A. (Hank) True, III, Diemer True, and David L. True, partners, recently announced the names of the recipients of the True companies Children of Employee Scholarships for the 2005-2006 academic year. Those receiving the employee scholarships are Calvin Collins and Trista Wagner of Casper; Matthew Pridgeon of Gillette; Dustin Wendling of Moorcroft; Christopher Mellor of Newcastle; Bryant Harvey of Upton; Kristen Alisch of Chester, Montana; Melody Clark of Dickinson, North Dakota; Tory Hill and Erin Swenson of Watford City, North Dakota; and Jesse Harris of Tempe, Arizona.

The partners said there were 22 applications for 11 scholarships. The selection of the winners was made by a scholarship committee including Mrs. Sharon D. Nichols, Consultant for the Western Highway Institute and President of the Casper College District Board, Casper, Chairman; the Honorable Clifford P. Hansen, former U.S. Senator of Jackson, Wyoming; and Mr. Willis Hughes, Moorcroft, Wyoming businessman. The winners were selected on the basis of scholastic attainment, intelligence, merit, need, and their potential for success in and after college.

This is the forty-fifth year these scholarships have been awarded, and they are in the amount of $1,500 each. Students may use the scholarship at any accredited four-year college or university or at any accredited two-year college. Selection of the college or university is determined by the student. The partners pointed out that the employee scholarships are grants and do not in any way obligate the recipient to the True Companies. All children of employees with three or more years of service are eligible to apply for the scholarships. The applicant must be a graduate from an accredited high school.

May 12, 2004

H.A. (Hank) True,III, Diemer True, and David L. True, partners, recently announced the names of the recipients of the True companies Children of Employee Scholarships for the 2004-2005 academic year. Those receiving the employee scholarships are John M. Blomstrom, Patrick D. Martinez, Amy M. Schroeder, Crystal D. Story, and Eric A. Walker of Casper; Zachary A. Jones and Jason L. Smith of Gillette; Autumn L. Perry of Laramie; Audry S. Craft of Laurel, Mississippi; Matthew A. Kennedy of Corvallis, Oregon; and Alison M. Meyer of Dickinson, North Dakota.

The partners said there were 28 applications for 11 scholarships. The selection of the winners was made by a scholarship committee including Mrs. Sharon D. Nichols, Executive Director, Western Highway Institute, Casper, Chairman; the Honorable Clifford P. Hansen, former U.S. Senator of Jackson, Wyoming; and Mr. Willis Hughes, Moorcroft, Wyoming businessman. The winners were selected on the basis of scholastic attainment, intelligence, merit, need, and their potential for success in and after college.

This is the forty-fourth year these scholarships have been awarded, and they are in the amount of $1,500 each. Students may use the scholarship at any accredited four-year college or university or at any accredited two-year college. Selection of the college or university is determined by the student. The partners pointed out that the employee scholarships are grants and do not in any way obligate the recipient to the True Companies. All children of employees with three or more years of service are eligible to apply for the scholarships. The applicant must be a graduate from an accredited high school.

Previous Release

March 2, 2004

PROMINENT WYOMING FAMILY
NAMED 2004 CITIZENS OF THE WEST

Denver – The H. A. (Dave) and Jean True Family of Casper, Wyoming has been named the 2004 Citizens of the West and will accept the prestigious award at a dinner on Wednesday, January 14, 2004 in the Adam’s Mark Hotel ballroom.

The Citizen of the West Award, selected by a committee of community leaders, singles out individuals who embody the spirit and determination of the western pioneer in the Rocky Mountain West. For twenty six years, the dinner has kicked off the National Western Stock Show. The proceeds benefit the National Western Scholarship Trust which this year will support 60 grants to Colorado and Wyoming institutions of higher learning.

The Trust funds agribusiness scholarships at Colorado State University and the University of Wyoming and four community colleges. Scholarships for medical residencies in rural family practice and physician assistant scholarships are given to The Colorado Health Sciences Center, and three rural nursing degree positions are funded by scholarships at the University of Northern Colorado. Since its inception in 1983 the National Western Scholarship Trust has funded over $2 million dollars in agribusiness and rural medical degrees in the Rocky Mountain West.

In naming the True Family, the committee is recognizing the late H. A. (Dave) True, Jr. who in partnership with his wife Jean Durland True, created nationally significant petroleum, banking and agricultural enterprises in Wyoming. As Joe Taylor wrote in an issue of Petroleum Independent “Dave True was an entrepreneur who built a one-rig, two man drilling company into one of the most successful groups of companies in the country.” Known as the “Wyoming Wildcatter” True and his wife Jean invested profits from their successful oil ventures into ranching and agriculture making their family one of the larger landholders in Wyoming.

As independent oil operators, the Trues have successfully explored for and developed new oil & gas production within the Northern Rockies at a time when major oil companies efforts were to move offshore or to overseas drilling. They became philanthropic and civic leaders in their community in Casper, Wyoming and throughout Wyoming. They continue to carry out their legacy of hard work and participation in industry and community endeavors.

Being honored with Jean True in January are Tamma True Hatten, H.A. (Hank) True III, Diemer Durland True, and David L. True.

Tamma Hatten, widow of the late Donald G. Hatten, owned Kirby Creek Land and Livestock Company and was a partner in farming operations near Wheatland and Lingle, Wyoming.

Her brother Hank True is a partner and officer in the True companies, director of Hilltop National Bank and Kinder Morgan Inc., Houston, Texas. Hank served as a Director of the Denver Branch of the Federal Reserve Bank of Kansas City and as a Director of the American Petroleum Institute and the National Petroleum Council and has been affiliated with many other petroleum industry associations. He is currently a Director of the National Cowboy and Western Heritage Museum and has participated in other civic and community activities which include serving as President of the Board of Trustees of the University of Wyoming.

Diemer True, also a partner and director of the True Companies, has been an advocate for the petroleum industry at the national level as Chairman of the Independent Petroleum Association and continues to serve as a director of the Mountain States Legal Foundation. He served on the Transition Committee for the Bush-Cheney Administration and was a member of both the Advisory Committees for the Department of Interior and the Department of Energy. True also served the State House of Wyoming as a State Representative and a State Senator.

Dave True joins his brothers as a partner of the True Companies and manages the family’s ranches in Wyoming, North Dakota and Arizona and True Drilling Company. He was on the Board of Directors of the National Cattlemen’s Beef Association and currently serves on the boards for Cattlemen’s Beef Board, Cattle-Fax, Wyoming Stock Growers and the International Association of Drilling Contractors. True has also been active in oil and gas associations and civic organizations and served on the Advisory Council of the Bureau of Land Management for National Public Lands.

The Trues have thirteen children among them and twenty-three grandchildren.

Senator Alan Simpson of Cody, Wyoming served in the Wyoming State Legislature with Diemer True and remembered Dave and Jean True when he was growing up. “The Trues started out in Cody and they have been a great force in promoting business and enhancing the business climate of our state. They have been politically active and civically involved and have been under the radar screen, so this award is a fine recognition for their contributions.”

The Award dinner’s master of ceremonies will be Craig Thomas, United States Senator, Wyoming. Former Senator Cliff Hansen of Wyoming and Pat Grant, President of the National Western Stock Show will present the award. . Co-chairing the Steering Committee are Stewart Bliss and W. Richard Scarlett and Marty Segelke is chairing the Arrangements Committee.

Previous Release

June 13, 2003

H. A. (Hank) True, III, Diemer True, and David L. True, partners, recently announced the names of the recipients of the True companies Children of Employee Scholarships for the 2003-2004 academic year. Those receiving the employee scholarships are Karey S. Dedic-Le'Ami, Martha L. Jorgensen, LaRee A. Norris, Amy M. Schroeder, and Randall O. Wright of Casper; Lacy L. Christianson of Moorcroft; Clinton K. Grotte of Williston, North Dakota; Jesse P. Harris of Aztec, New Mexico; Dustin D. Holkan of Douglas; Lindsay M. Holum of Gillette; and Cody D. Wolff of Culbertson, Montana.

The partners said there were 26 applications for 11 scholarships. The selection of the winners was made by a scholarship committee including Mrs. Sharon D. Nichols, Executive Director, Western Highway Institute, Casper, Chairman; the Honorable Clifford P. Hansen, former U.S. Senator of Jackson, Wyoming; and Mr. Willis Hughes, Moorcroft, Wyoming businessman. The winners were selected on the basis of scholastic attainment, intelligence, merit, need, and their potential for success in and after college.

This is the forty-third year these scholarships have been awarded, and they are in the amount of $1,500 each. Students may use the scholarship at any accredited four-year college or university or at any accredited two-year college. Selection of the college or university is determined by the student. The partners pointed out that the employee scholarships are grants and do not in any way obligate the recipient to the True Companies. All children of employees with three or more years of service are eligible to apply for the scholarships. The applicant must be a graduate from an accredited high school.