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Acquired 33,715 gross acres in Crockett County, TX, prospective for Clearfork and Wolfcampe shale, Canyon sands and Ellenburger formations.

Approach Resources Inc., Fort Worth, Texas, (Nasdaq: AREX) has acquired leasehold interests covering 33,715 gross (22,851 net) acres in Crockett County, Texas, in the Permian Basin.

The company believes the acquired acreage is prospective in the Clearfork and Wolfcamp shale (or Wolffork), Canyon sands and/or Ellenburger formations.

The acreage includes 11,285 gross (9,919 net) acres acquired in Crockett County in The University of Texas system's 118th lease sale. The company's total acreage position in the Permian Basin now covers 137,495 gross (93,755 net) acres. The number of stated net acres acquired is based on the company's expectation of future participation by working interest partners, but will vary depending on final election by the partners.

Approach Resources president and chief executive J. Ross Craft, says, "Expanding our acreage position is an important component to our overall strategy of unlocking the potential of the multiple oil and liquids-rich formations in the Permian Basin. Our recent acreage acquisitions increase our inventory of growth opportunities across our highly-prospective Permian acreage."

Approach Resources' core operations, production and reserve base are in the Permian Basin in West Texas. At June 30, 2010, the company's estimated proved reserves were 278.3 billion cubic feet equivalent (50% oil and NGLs; 50% gas).