SOURCE: Freedom Financial Holdings, Inc.

October 28, 2009 10:30 ET

Freedom Financial Holdings Creates Oil Services Division

FORT WAYNE, IN--(Marketwire - October 28, 2009) - Freedom Financial Holdings, Inc. (PINKSHEETS: FDMF) CEO Brian Kistler announced today that the company's wholly owned subsidiary, Freedom Energy International (FEI), has teamed up with Morris Energy to create Freedom Energy's Oil Service Division.

Kistler stated, "This is a big step for FEI. With oil prices rising to around $80 per barrel and future predictions indicating a further increase the demand for oil services will naturally follow suit. Derek Morris, President and Owner of Morris Energy, has been working with us at the beginning of our oil production development. He has the experience and reputation in Southeastern Kansas that fits with the goals and aspirations of the company."

Morris commented, "I was one of the first, other than Freedom, to use KC 9000™. Over the course of time I had accumulated several tanks containing oil bottoms which created a real problem for my company. Prior to using KC 9000 I spent time and money attempting to convert the oil bottoms to marketable oil that could be sold. My attempts at heating the bottoms in addition to treating the tanks with chemical formulas that were marketed to treat the problem were unsuccessful. After FEI demonstrated the KC 9000 I purchased 35 gallons of KC 9000™, treated my tanks, and sold the oil."

Morris continued, "KC 9000™ is an amazing product. When you can take a liability and turn it into an asset you have an extremely marketable product. By teaming with FEI my goal is to build the oil services division for Freedom.

"Derek has been a real asset for FEI already with his role in the acquisition of the Beachner Lease in addition to the opportunity to work with the Kansas Corporation Commission's abandoned lease tank removal projects. I am looking forward to working with Derek building revenue for the company and oil reserves with the acquisition of new leases. I plan to bring further updates and announcements in the near future as they develop," concluded Kistler.

ABOUT MORRIS ENERGY

Located in Weir, Kansas, Derek Morris founded the company in 1995 acquiring the company's first oil lease. In 2000 the company entered into the well servicing industry after securing a multi-year contract with the Kansas Corporation Commission to plug abandoned oil and gas wells that were deemed environmentally hazardous.

In 2002 the company was awarded four contracts by the Environmental Protection Agency to plug abandoned oil wells in Northeast Oklahoma. Since 1995 Derek Morris has drilled over 250 oil and gas wells in addition to plugging over 200 wells as a government and private contractor. Morris has consulted with and advised several U.S. and Canadian firms on drilling, well completion, and installation of production facilities.

ABOUT FREEDOM FINANCIAL HOLDINGS, INC.

Freedom Financial Holdings, Inc. ("FDMF") is a holding company with a focus on the identification of opportunities in the financial and oil services sector. The Company's objective is to acquire undervalued assets and/or initiate operations in under served niches. Once established within the FDMF portfolio, the Holding Company will provide the support necessary to enable each of its subsidiaries to maximize their business opportunities.

FORWARD-LOOKING STATEMENT: This press release contains certain "forward-looking" statements, as defined in the United States Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Statements, which are not historical facts, are forward-looking statements. The Company, through its management, makes forward-looking public statements concerning it expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no factors that could cause actual results to differ materially from those estimated by the Company. They include, but are not limited to, the Company's ability to develop operations, the Company's ability to consummate and complete the acquisition, the Company's access to future capital, the successful integration of acquired companies, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition, sales and other factors that may be identified from time to time in the Company's public announcements.

Contact Information


  • Contact:
    Freedom Energy International, Inc.
    www.freedomenergyint.com

    Investor Relations
    David Elias
    DME Capital, LLC
    516-967-0205