SOURCE: Cascade Energy, Inc.

August 05, 2005 12:16 ET

Cascade Energy Prepares to Drill "12-15" Well at Empress, Alberta Canada

SACRAMENTO, CA -- (MARKET WIRE) -- August 5, 2005 -- Cascade Energy, Inc. (OTC BB: CSCE), today announces that the Company is preparing to drill the 12-15-24-2W4M well at its Empress Project, located 160 miles east of Calgary, Alberta. The well is planned for spud in approximately one week, as a drilling rig is available in the area.

The "12-15" is an offset well located one full section (640 acres) to the east of the new discovery "11-16" well. Cascade recently announced that the "11-16" has been successfully completed as a gas well and is now being put into commercial production. The Company has been informed by a third party engineer that the well is projected to produce 500 to 600 Mcf gas per day as a stable production rate.

Empress consists of 4 sections of Crown P&NG rights where Cascade is acquiring a 49% working interest in 3 sections and has acquired the 21% interest in Section 16. The "12-15" well is on the 49% earn-in lands and Cascade will earn its interest by drilling and completing one well.

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

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