SOURCE: Cascade Energy, Inc.

August 01, 2005 10:30 ET

Cascade Energy's "11-16" Natural Gas Well to Go Into Commercial Production -- Well to Produce 500 to 600 Mcf per Day

SACRAMENTO, CA -- (MARKET WIRE) -- August 1, 2005 -- Cascade Energy, Inc. (OTC BB: CSCE) today announces that the "11-16" well has been successfully completed as a natural gas well and will be put into commercial production. Following the testing program, third-party engineers have reported that the well is projected to produce 500 to 600 Mcf gas per day as a stable production rate.

Cascade and partners are now investigating different low-cost, pipeline tie-in options for the well. The closest connection to existing infrastructure is only one mile from the well and the tie-in should be achieved quickly. In addition, third-party engineers are now calculating gas reserves associated to the "11-16" well, which the Company will announce shortly.

Mr. Sam Johal, President of Cascade, states, "The Company is extremely pleased to have its first commercially viable natural gas well at Empress. Cascade will be cash flow positive from this well in a very short time. Also, this well is just the start of a significant development program at Empress as we drill more offset gas wells in the area of this new discovery."

On June 30th, Cascade acquired an interest in this new gas discovery well, located in its Empress Project area. The "11-16-24-2W4M" well is located in Twp. 24, Rge. 2 in Section 16 and is located in eastern Alberta, 160 miles east of Calgary, Alberta. 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.

ABOUT CASCADE ENERGY

Cascade is an explorer for natural gas and oil with a head office in Sacramento, 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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