SOURCE: EnDevCo, Inc.

March 10, 2008 18:00 ET

EnDevCo Announces Stock Split

HOUSTON, TX--(Marketwire - March 10, 2008) - EnDevCo, Inc. (OTCBB: ENDE), the Energy Development Company, today announced a 100 for 1 reverse stock split, an important first step to listing on a primary national exchange like the American Stock Exchange. "Being on a national exchange will finally provide the Company with exposure to prominent research analysts, major brokerage firms and institutional buyers as well as greater access to the capital markets. Due to our recent operating successes and the recoverable reserves we have assembled, it is now time to take these necessary steps," stated CEO Chris A. Dittmar. The reverse split will be effective March 11, 2008 at the opening of trading and the stock will trade under the new symbol (OTCBB: EDVC).

EnDevCo purchased Short Junction Field in April 2006 for $11.5 million and in December that year DeGolyer and MacNaughton appraised the Field's gross proved reserves at 27.3 million barrels of oil equivalent (BOE). While the acquisition cost of the Field was only $0.42 per BOE, with the run up in crude oil prices in 2007, the Company effectively acquired over $2 billion of future gross revenue in the transaction and seeks to put that revenue stream completely on line over the next five years. The Company has commenced discussions to secure a credit facility of sufficient size to accelerate the development of the Field with upwards of 10 drilling rigs operating concurrently. "We believe we have 300 horizontal wells to drill in the Field just in the Hunton reservoir and will be able to triple the Field's current proved reserves with our planned drilling campaign," said COO Richard G. Boyce.

The Company is also currently negotiating with its preferred shareholders to completely retire that class of shares. "Once the Company has a streamlined capital structure and is able to move to a national exchange listing, the value of our Company will be much easier to define," said Tom Cloutier, Investor Relations Director. "The increased exposure to the world financial markets, institutional buyers and the oil and gas industry at large will translate into a substantially greater equity value for our shareholders. The Company will have increased liquidity, greater financing options, better terms and potentially new property acquisitions. Our continued use of project-based debt financing will minimize future dilution, making it easier to increase our earnings per share."

"When evaluating our Company, it is important to note that the recoverable reserves in the Short Junction Field are dwarfed by our properties in the Gulf of Mexico and in South America," observed Mr. Dittmar. "Over the next five years, we are confident the drill bit will confirm the extent of the value in our current properties."

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 establishing an identity consistent with its operating philosophy of "Science Before The Drill Bit." EnDevCo maintains offices in Houston and Dallas, Texas. For more information on EnDevCo, visit

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