Amen Properties Announces Asset Purchase Agreement Between W Power & Light And Green Mountain Energy Company

Midland, TX - Amen Properties recently announced that its wholly owned subsidiary, W Power and Light, LLC ("W Power") has entered into an agreement with Green Mountain Energy Company, Inc. ("Green Mountain") whereby Green Mountain will take over most of the retail electricity customer agreements of W Power. Under the terms of the agreement, residential and commercial customers of W Power will begin being transferred to Green Mountain within five business days from the July 16, 2008 closing date. The Company's decision to exit the retail electricity business was announced earlier this month, and driven largely by the increased complexity and volatility of the Texas electricity market.

"We are pleased with how quickly we were able to negotiate terms for our agreement with Green Mountain, and believe our customers will be well cared for by them. Green Mountain is a great retailer with substantial resources and a strong commitment to the retail electricity market," said Kevin Yung, the Company's Chief Operating Officer and President of W Power. "We've received a number of positive comments regarding the structured way we approached exiting the retail electricity business in Texas. In particular, our focus was to find a strong retailer who could provide reliable service and reasonable competitive pricing for our customers. I believe we have succeeded in that effort."

SOURCE: Amen Properties Inc.