Force Energy Corp.
OTC Bulletin Board : FORC

Force Energy Corp.

June 29, 2009 09:00 ET

Force Energy Corp. Negotiates Final Terms for 50% Working Interest in the Diamond Springs Prospect

DENVER, COLORADO--(Marketwire - June 29, 2009) - Force Energy Corp. (OTCBB:FORC) (hereafter "Force" or "the Company"), is pleased to announce that the Company has negotiated an agreement in principle with G2 Petroleum LLC for the acquisition of a full 50% working interest in the diamond springs prospect.

Pursuant to the terms of the agreement in principle, G2 has agreed to assign to the Company a 50% interest in the Diamond Springs Prospect located in the Wind River Basin in Fremont County, Wyoming, in consideration of which, among other things, Force will release G2 from all further obligations relating to the US$175,000 loan provided to G2 in December, 2008 and the US$50,000 deposit advanced by Force pursuant to the terms of the March, 2008 letter agreement between the parties.

The parties intend to enter into a definitive agreement in accordance with the terms of the agreement in principle which will replace and supercede all prior agreements between the parties relating to the Diamond Springs Prospect, including the letter agreement between the parties entered into in March, 2008.

About the Diamond Springs Prospect

The Diamond Springs Prospect is a 3,300-acre shallow oil prospect located within the Wind River Basin in Fremont County, Wyoming. Independent 3rd party geologic work has concluded that the three independent but geologically similar prospective locations that comprise the property has the potential for 4.3 million barrels of oil all from depths of less than 1,100 feet. With its low cost risk/reward profile, management believes that the Diamond Springs Prospect is an exciting project.

Shareholders and Investors alike are encouraged to contact the Company directly toll-free at 1-866-953-FORC (3672) for more information.

About Force Energy Corp.

Force Energy Corp. is an Oil & Gas Exploration and Development Company based in Denver, CO with a focus on Wyoming. Using a geology-based methodology, the US Geological Survey estimate a mean of 2.4 trillion cubic feet of undiscovered natural gas and a mean of 41 million barrels of undiscovered oil in the Wind River Basin Province of Wyoming. They further estimate a mean of 84.6 trillion cubic feet of undiscovered natural gas and a mean of 131 million barrels of undiscovered oil in the Southwestern Wyoming Province. Force Energy Corp. has entered into LOI's to drill and develop two prospects located within each of these prolific areas. The Company's shares are publicly traded on the OTCBB under the ticker symbol FORC.

On behalf of the Board of Directors

FORCE ENERGY CORP.

Legal Notice Regarding Forward-Looking Statements

This news release contains "forward-looking statements". Statements in this press release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among others, the expectation and/or claim, as applicable, that: (i) three independent but geologically similar prospective locations to the Diamond Springs Prospect have the potential for 4.3 million barrels of oil all from depths of less than 1,100 feet; (ii) the parties will negotiate and enter into a binding agreement regarding the Diamond Springs Prospect; (iii) the US Geological Survey estimate a mean of 2.4 trillion cubic feet of undiscovered natural gas and a mean of 41 million barrels of undiscovered oil in the Wind River Basin Province of Wyoming; and (iv) the US Geological Survey estimate a mean of 84.6 trillion cubic feet of undiscovered natural gas and a mean of 131 million barrels of undiscovered oil in the Southwestern Wyoming Province.

Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the Company. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include misinterpretation of data, inaccurate estimates of oil and natural gas reserves, Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others: (1) the failure to negotiate and enter into a binding agreement respecting the transfer of a 50% interest in the Diamond Springs Prospect; (2) the inability to obtain the necessary approvals for the further exploration and development of all or any of the Company's prospects; (3) the continued significant demand for oil and gas; (4) risks inherent in the oil and gas industry; (5) the number of competitors in the oil and gas industry with greater technical, financial and operations resources and personnel; (6) fluctuations in world prices and markets for oil and gas due to domestic, international, political, social, economic and environmental factors beyond the Company's control; (7) the uncertainty of the requirements demanded by environmental agencies, the Company's ability to raise financing for operations, breach by parties with whom we have contracted, inability to maintain qualified employees or consultants because of compensation or other issues, competition for equipment, inability to obtain drilling permits, potential delays or obstacles in drilling operations and interpreting data, the likelihood that no; (8) the Company's ability to raise debt or equity financing for operations; (9) the Company's ability to hire and retain qualified employees and consultants; and (10) the fact that there is no certainty that any commercial quantities of oil or gas are found or recoverable, and our ability to participate in the exploration of, and successful completion of development programs on all aforementioned prospects and leases.

In general, estimates of 3P (proven, possible & probable) reserves are based upon a number of factors and assumptions made as of the date on which the estimates were determined, such as geological, technological and engineering estimates and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking estimates. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, except as required by law. Readers should also refer to the Company's current annual report or other filings, which are available at www.sec.gov for additional discussion of risks and uncertainties. The reader is cautioned not to place undue reliance on forward-looking statements.

Cautionary Note to U.S. Investors - The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. The Company uses certain terms in this press release that the SEC's guidelines strictly prohibit the Company from including in filings with the SEC. U.S. Investors are urged to consider closely the disclosure in the Company's periodic and other filings filed with the SEC at www.sec.gov.

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