Matrix joins Bonanza Creek Energy Inc. in management of Wattenberg Field

Denver, CO

Matrix agrees to participate with Bonanza Creek Energy Inc. to jointly develop a lease acquisition in the Wattenberg Field in Greeley Colorado. The acquisition will allow Matrix to participate with a known Colorado operator in a long-life and low-risk field with goals to optimize production and also drill in-fill wells to enhance production. Matrix estimates that the acquisition will be completed in December, 2004.