SOURCE: Bedford Energy, Inc.

September 09, 2008 13:01 ET

Bedford Energy Announces Participation in a 200 Acre Oil & Gas Lease Acquisition in the Palo Duro Basin

OKLAHOMA CITY, OK--(Marketwire - September 9, 2008) - Bedford Energy (PINKSHEETS: BFDE) is pleased to announce the acquisition of 200 acres located in the Palo Duro Basin in West Texas. Bedford is participating on the lease acquisition with Kiowa Oil Company, Pride Pacific Petroleum, Go Green Environmental and Russian Resources Energy Group. The lease was acquired from West Texas Royalties in Plainview, Texas. The Palo Duro Basin is a shale play located in Floyd, Motley and Swisher counties in West Texas and has been reported to have "Barnett Shale" type potential according to a 2005 report by Morgan Stanley.

Participation Group Information:

Kiowa Oil Co.: 19 Island Vista, Newport Coast, CA 92657. (949) 759-0439

Pride Pacific Petroleum, Inc.: 6085 Chippewa Trail, Frisco, TX 75034. (972) 712-1039

Go Green Environmental, Inc.: 11302 Raveneaux, Frisco, TX 75034. (972) 712-2154

Russian Resources Energy Group, Inc.: 14800 St. Marys Lane, Suite 120, Houston, TX 77079. (713) 825-1900

For more detailed information on Bedford Energy please contact BFDE@bedfordenergyinc.com or visit www.bedfordenergyinc.com.

About Bedford Energy, Inc.

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.

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