SOURCE: EnDevCo, Inc.

August 23, 2006 07:00 ET

EnDevCo Announces 2nd Quarter Earnings

HOUSTON, TX -- (MARKET WIRE) -- August 23, 2006 -- EnDevCo, Inc. (OTCBB: ENDE) the Energy Development Company, today announced total revenues of $951,527 and a gross profit of $538,542 for the six month period ending June 30, 2006. The Company had no operating revenues for the same period in 2005.

During this period, EnDevCo increased its total assets to $16,590,200 compared with $2,879,419 reported year end 2005. As of the end of the 2nd Quarter, the Company has total current assets of $1,468,740, cash reserves of $799,036 and a remaining credit facility of $20,333,787 for the continued development of the Short Junction Field. "As a result of the production increases we continue to achieve at Short Junction Field, the Company is well positioned to earn our first net operating profit later this year," stated Chris A. Dittmar, CEO.

The Company continues to invest in a cost effective work program designed to increase production from existing well bores in the Short Junction Field and will make additional announcements in the near future regarding recently completed operations once new production rates stabilize. These operations appear to have significantly increased both oil and gas production in the Field.

This press release includes certain "forward-looking statements." The forward-looking statements reflect the beliefs, expectations, objectives, and goals of EnDevCo, Inc. management with respect to future events and financial performance. They are based on assumptions and estimates, which are believed reasonable at the time such statements are made. However, actual results could differ materially from anticipated results. Important factors that may impact actual results include, but are not limited to commodity prices, political developments, legal decisions, market and economic conditions, industry competition, the weather, changes in financial markets and changing legislation and regulations. The forward-looking statements contained in this report are intended to qualify for the safe harbor provisions of Section 21E of the Securities and Exchange Act of 1934, as amended.

EnDevCo, Inc. is a dynamic and growing energy company. EnDevCo maintains offices in Houston and Dallas, Texas. For more information on EnDevCo visit

Contact Information