SOURCE: Bedford Energy, Inc

November 16, 2006 08:15 ET

Bedford's Grace Wells Going Online

OKLAHOMA CITY, OK -- (MARKET WIRE) -- November 16, 2006 --Bedford Energy, Inc. (PINKSHEETS: BFDE) (Cusip 076110 105) -- Bedford Energy, Inc. announces that it has successfully permitted its saltwater disposal well in the East Chandler field in Oklahoma. This allows Bedford to immediately be able to put on line the 4 Grace wells previously drilled and completed.

The Grace wells #1, #3, #5 and #6 should be online and producing in the next few days.

Bedford also is currently building the location for the Grace #2 well and drilling is expected to begin Monday, November 20th, 2006. The Grace #2 well will be drilled to a total depth of 5,100 feet through the Hunton zone.

The Grace #2 well is the last of the Grace wells in the 5 well drilling program in the East Chandler field.

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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