SOURCE: Bedford Energy, Inc.

November 01, 2006 08:15 ET

Bedford Acquires Well and Lease in Karnes County, Texas

OKLAHOMA CITY, OK -- (MARKET WIRE) -- November 1, 2006 -- Bedford Energy, Inc. (PINKSHEETS: BFDE) (Cusip 076110 105) -- Bedford Energy, Inc. announces that it has acquired the Jansen #1A Oil and Gas Property in Karnes County, Texas. The acquisition includes a 138-acre lease, a well, and ancillary equipment.

Bedford intends to re-complete the well beginning November 10, 2006 for gas production. Bedford is also acquiring additional nearby leases in Karnes County, Texas.

For more detailed information on the Company or for a current status of our drilling results, please contact BFDE@bedfordenergy.com or visit www.bedfordenergy.com

About Bedford

Independent Oil and Gas

Bedford Energy specializes in the recovery of oil & gas reserves through acquisition and project development, including existing field enhancement, and low-risk exploration opportunities. The Company has also created an oil field equipment division with specific industry alliances for resale.

SEC DISCLAIMER

Information contained herein may contain forward-looking statements which are not guarantees of future success or that there cannot be losses. The actual presence or recoverability of reserves for optimal and timely recovery, well costs or schedules or other matters cannot be promised. This release contains "Safe Harbor" provisions of the US Private Securities Litigation Reform Act of 1995 & involves risks and uncertainties, which could cause actual results to differ materially from those estimated herein.

Bedford believes the forward-looking statements are based on current reasonable assumptions but can give no assurance that results will be achieved. Unpredictable & unanticipated risks, trends and uncertainties including inability to accurately forecast operating results; the potential inability to achieve profits or have cash flow; access to financing; and other must be understood. Bedford assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.

Bedford Energy, Inc., 531 N Portland Avenue, Oklahoma City, OK 73107

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