SOURCE: Bedford Energy, Inc.

June 29, 2006 17:52 ET

Bedford Energy Announces the Commencement of Drilling on the East Chandler Prospect in Lincoln County, Oklahoma

EDMOND, OK -- (MARKET WIRE) -- June 29, 2006 -- Bedford Energy, Inc. (PINKSHEETS: BFDE) (Cusip 076110 105) is pleased to announce that the company has begun drilling the Grace #1 Well, the first of five wells slated for the East Chandler Prospect. The target depth is 4900 feet for the primary pay zone, Hunton Formation, with a secondary zone, the Red Fork Formation, which also appears promising. The rig will remain in the field to achieve certain economies and drill the balance of the wells.

For additional information go to 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 RECOVERABLITY 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 & 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 MORE MUST BE UNDERSTOOD. BEDFORD ASSUMES NO OBLIGATION TO UPDATE OR SUPPLEMENT FORWARD-LOOKING STATEMENTS THAT BECOME UNTRUE BECAUSE OF SUBSEQUENT EVENTS.

Contact Information


  • BEDFORD ENERGY, INC.
    221-B W. EDMOND RD
    EDMOND, OK 73003

    Email Contact