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Analytical Surveys, Inc. Plans to Merge With Ecowood, Inc.
San Antonio and Lake Sallas, Texas, USA, 13 March 2007 -- /PRNewswire/ -- Analytical Surveys, Inc. (ASI) (NASDAQ:ANLT) , and Ecowood, Inc., today announced the execution of a letter of intent to combine the companies in a tax-free, all stock merger to form an environmentally friendly, diversified natural resource company.

The new combined company will focus on Ecowood's core business of hardwood log recovery from the Amazon River system. The recovery process not only cleanses the river system and relieves pressure on the living rainforest, but also provides high-quality, commercial hardwood logs that are used to produce furniture, hardwood floors, and other wood-based products. The combined company will continue to operate the ASI Energy business, which is focused on the discovery of oil and natural gas resources, as a wholly owned subsidiary.

Ecowood will contribute assets to the combined new company that include property, customer contracts, and exclusive licenses and permits to salvage logs from several of the major rivers in northern Brazil, principally the Amazon River. The new company will also benefit from an existing financing package that provides access to more than USD 200 million for future investment and working capital.

The companies expect to execute a definitive merger agreement by 16 March. The final transaction will be subject to approval by ASI shareholders, the satisfaction of customary closing conditions and regulatory review and approvals from NASDAQ and the Securities and Exchange Commission, among others. Pending all approvals, the companies expect the transaction to be completed during the second quarter of calendar 2007.

Analytical Surveys, Inc., is a San Antonio-based oil and gas company focused on participation in nonoperating exploration and production of U.S. onshore oil and natural gas reserves. ASI is headquartered in San Antonio, Texas. For more information, visit http://www.asienergy.com/.

Ecowood, Inc. was formed in February 2007 to salvage lost logs on several of the major rivers in northern Brazil, principally the Amazon River. Over the past 300 years, a great number of logs have been lost on the way to sawmills. New technology and modern equipment now make it practical and profitable to salvage the estimated 61.4 billion cubic meters of recoverable logs from the navigable river ways. For more information, visit http://www.soggylogs.com/.

Source: Analytical Surveys, Inc.

Web site: http://www.asienergy.com/

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