SOURCE: Bedford Energy, Inc.

August 28, 2006 10:27 ET

Bedford Energy Announces Grace #6 Added to Drilling Program

EDMOND, OK -- (MARKET WIRE) -- August 28, 2006 -- Bedford Energy, Inc. (PINKSHEETS: BFDE) (Cusip 076110 105) -- Bedford Energy, Inc. announced today that it has added the Grace #6 well to its drilling program in East Chandler, Oklahoma. The location has been built and drilling is scheduled to begin Wednesday, August 30, 2006. The Grace #6 is a direct offset to the Grace #4, which is being completed as a salt water disposal well.

The Grace #1 has been put online and is currently being tested. Results will be available in the near future.

Drilling is also scheduled to begin on the warren 1-14 in Hughes County, Oklahoma on Wednesday, August 30, 2006. The Warren 1-14 will be drilled to a total depth (TD) of 6,600 feet.

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.

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