2010-09-30-2010-09-30-2010-09-30

Acquired 5,400-acre Adamson Ranch in Edwards County, TX.

Glen Rose Petroleum Corp., Katy, Texas, (OTCBB: GLRP) has acquired the 5,400-acre Adamson Ranch in Edwards County, Texas from an undisclosed buyer.

Glen Rose now owns 100% working interest in the Adamson Ranch property, which carries a 20% royalty interest. The ranch is contiguous to the company's Wardlaw leasehold property, bringing its total acreage to approximately 15,900.

Glen Rose chief operating officer Ruben Alba says, "The acquisition of the Adamson Ranch represents Glen Rose's potential for an extensive development plan into the future. Our research in the area has shown the region to be continuous in strata to our current asset area. Multiple productive shallow oil horizons have been identified and are key elements in the production of the reservoir. This, coupled with our unique completion processes, makes the asset a complementary fit to our development plans."

Glen Rose Equity Partners LLC owns a 12.5% working interest in Wardlaw Field and has the right to acquire up to 50% working interest in any additional acquisitions made by Glen Rose outside a defined area of mutual interest, including the Adamson Ranch acquisition.

An engineering study conducted on the Wardlaw leasehold in 1984 estimated 168.7 million barrels of oil-in-place at that field which covers 10,500 acres. The majority of the oil-in-place is trapped in the dolomitic upper Glen Rose A Zone at approximately 300 feet.

Glen rose president Andrew Taylor-Kimmins says, "The acquisition of the Adamson Ranch leasehold fits precisely with our objective of acquiring and developing up to 60,000 acres within the shallow oil fairway that extends over Edwards, Sutton and Val Verde Counties, Texas. We have already begun a major rework of the Wardlaw Field, and have 26 active wells yielding meaningful production."