SOURCE: Bedford Energy, Inc.

January 16, 2008 13:47 ET

Bedford Energy Settles Suit

OKLAHOMA CITY, OK--(Marketwire - January 16, 2008) - Bedford Energy, Inc. (PINKSHEETS: BFDE) (Cusip 076110 105) announces today that it has settled the lawsuit with The Wilcox Group, LLC.

With the settlement final, Bedford Energy will be able to immediately recommence its well re-work activity and completion operations in the Grace Field, located in Lincoln County, Oklahoma, and the further development of the Warren Field, located in Hughes County, Oklahoma.

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

About Bedford Energy, Inc.

Independent Oil and Gas

Bedford Energy, Inc. is a public company, trading under the symbol BFDE that is engaged in the exploration, development and exploitation of natural gas and oil properties in the mid-continent and gulf areas of the United States. Bedford strives to enhance investor value by expanding oil and natural gas reserves raising production levels and increasing cash flow. As always, Bedford intends to increase shareholder value through developmental drilling in proven producing areas.

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.

Contact Information