SOURCE: Cascade Energy, Inc.

September 06, 2005 09:00 ET

Cascade Energy Prepares to Spud "7-1-64-25W4M" Well at Bolloque Project -- a Leduc Oil Play, Alberta, Canada

SACRAMENTO, CA -- (MARKET WIRE) -- September 6, 2005 -- Cascade Energy, Inc. (OTC BB: CSCE) today is pleased to announce that the Company is in final preparations to spud the first oil well at the Bolloque Project, Alberta, Canada. The well designation is "7-1-64-25W4M." The drilling is scheduled to start mid-week, as the drilling rig is currently being mobilized to the well site. Cascade anticipates the drilling and completion program to take approximately two weeks.

Access to the project and existing infrastructure is excellent as the first well location is 200 yards from a producing gas well and 2 miles from a municipal road. If successful, Cascade has been informed by third-party engineers that up to 8 additional wells at 40-acre drill spacing are possible based on the interpretation of the existing geological and seismic data. Further data gained during the drilling of the "7-1" well could expand the geological information and yield further drilling locations.

An independent reservoir engineer and geophysicist have confirmed the presence of a Leduc Pinnacle Reef buildup under the Company's leases where a reef buildup of approximately 100 feet is present. Analog comparison wells in the Acheson D-3A pool with less pay thickness than Bolloque have had peak production rates of 300 barrels per day.

The project is located 60 miles north of Edmonton, Alberta, in the prolific oil producing Leduc area. Leduc Reef oil fields south of Bolloque contain oil wells that produce oil at rates of several hundred barrels per day. Also, individual wells have cumulatively produced over one million barrels of oil. Production has been between a low of 145 and a high of 400 barrels per day with pay thickness of 35 to 142 feet.

Cascade has acquired a 49% working interest in the Bolloque Project and has advanced funds in full to the operator totaling $450,000 to drill and complete an oil well on the leases. Under the terms of the agreement, Cascade will earn its working interest by drilling, casing and completing one exploratory well on the leases.

The Bolloque Project consists of a Leduc (Devonian) reef target underlying three sections of Petroleum and Natural Gas leases. Three other P & NG leases are included in the project area. The Project lands consist of six sections of P & NG rights leased from the Crown, three sections are thought to overly a Leduc reef build-up on the edge the Cooking Lake platform.

ABOUT CASCADE ENERGY

Cascade is an explorer for natural gas and oil with a head office in Sacramento, California, in the heart of California 's gas country. The primary objective of Cascade is to acquire, discover, upgrade and expand North American onshore oil and gas reserves towards near-term production and cash flow, together with identifying and participating in exploration opportunities. By maintaining a balanced debt and equity mix, Cascade's operating strategy is to become cash flow positive in the short term to allow the Company a re-investment of production dollars to enhance and grow company assets. By searching and identifying exploration and producing properties that fit the company's investment and production criteria, Cascade has formulated a strategy to prioritize assets that provide low risk, short payback period and long life reserves.

Safe harbor for Forward-Looking Statements:

Except for statements of historical fact, the information presented herein constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which Cascade Energy Inc. has little or no control.

ON BEHALF OF THE BOARD

Cascade Energy, Inc.

Sam Johal-President

Contact Information