SOURCE: Bedford Energy, Inc.

September 18, 2006 07:30 ET

Bedford's Grace #6 Well in East Chandler at Total Depth (TD)

OKLAHOMA CITY, OK -- (MARKET WIRE) -- September 18, 2006 -- Bedford Energy, Inc. (PINKSHEETS: BFDE) (Cusip 076110 105) -- Bedford Energy, Inc. announced today that its Grace #6 well in East Chandler, Oklahoma has TD'd at 4722 feet with excellent shows in the Pru and Hunton Formations. Casing has been set and completion has begun.

The Grace #5 well has been spudded in the same East Chandler prospect and the bit is currently passing through 600 feet.

Drilling on Bedord's Warren 1-14 well in Hughes County, Oklahoma is passing through 3,600 feet toward a TD of 6,300 feet, with target zones in the Woodford Shale and Oil Creek formations.

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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