SOURCE: Bedford Energy, Inc.
June 29, 2006 17:52 ET
EDMOND, OK -- (MARKET WIRE) -- June 29, 2006 -- Bedford Energy, Inc. (PINKSHEETS: BFDE) (Cusip
076110 105) is pleased to announce that the company has begun drilling the
Grace #1 Well, the first of five wells slated for the East Chandler
Prospect. The target depth is 4900 feet for the primary pay zone, Hunton
Formation, with a secondary zone, the Red Fork Formation, which also
appears promising. The rig will remain in the field to achieve certain
economies and drill the balance of the wells.
For additional information go to www.BedfordEnergy.com
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.
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 RECOVERABLITY 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 & 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 MORE MUST BE UNDERSTOOD. BEDFORD ASSUMES NO OBLIGATION TO UPDATE OR
SUPPLEMENT FORWARD-LOOKING STATEMENTS THAT BECOME UNTRUE BECAUSE OF
BEDFORD ENERGY, INC.221-B W. EDMOND RDEDMOND, OK 73003
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