Trek Announces First Quarter Earnings DALLAS, Feb. 18 /PRNewswire-FirstCall/ -- Trek Resources, Inc. (BULLETIN BOARD: TREK) ("Trek" or the "Company") announces today as stated in the Company's Quarterly Report on Form 10-QSB that was filed with the Securities and Exchange Commission on February 17, 2004, the Company's net income for the three months ending December 31, 2003 was $369,363, compared to a net income of $183,750 for the same period in the prior year. The Company's results of operations for the first quarter of fiscal 2004 were favorably impacted by higher oil and gas prices, as well as higher oil and natural gas volumes, coupled with lower general and administrative expenses and lower interest expense. Offsetting those effects were higher lease operating expenses and higher depletion expense. Trek is in the process of drilling and completing four new wells. Two of these wells are in Cottle County, Texas, one is located in Eastland County, Texas, and one is located in Claiborne Parish, Louisiana. These drilling activities, including the estimated amount of total expenses and the Company's respective working interests in each well, are described in Trek's Form 10-QSB referenced above. There can be no assurance that any of these wells will be successful. About Trek: Trek is a Dallas-based domestic oil and gas acquisition and production company with oil and gas assets principally in Texas and Oklahoma. Trek operates approximately 240 producing wells. More information about Trek may be found at the Company's web site, http://www.trekresources.com/ , and in the Company's filings with the Securities and Exchange Commission. FORWARD-LOOKING STATEMENTS: This press release may contain certain forward-looking statements. These forward-looking statements include information about possible or assumed future results of the Company's operations. When statements in this press release contain any of the words "believes," "expects," "intends," "anticipates," or similar expressions, the Company is making forward-looking statements. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, such statements. Factors that might cause such a difference include those detailed from time to time in the Company's filings with the Securities and Exchange Commission. DATASOURCE: Trek Resources, Inc. CONTACT: Michael E. Montgomery of Trek Resources, Inc., +1-214-373-0318, or Web site: http://www.trekresources.com/

Copyright