SOURCE: Freedom Energy Holdings, Inc.

October 19, 2010 09:00 ET

Freedom Energy Sells Oil Operations -- Focuses on KC 9000®

FORT WAYNE, IN--(Marketwire - October 19, 2010) -  Freedom Energy Holdings, Inc. (PINKSHEETS: FDMF) CEO Brian Kistler announced today that it has sold its operations in Kansas to a private party.

The transaction will be booked in the 4th quarter. The proceeds have been applied and resulted in a reduction of debt and other liabilities for the company in excess of $500,000. Additionally, the company will also benefit in a reduction of monthly overhead in excess of $10,000 per month.

This sale is consistent with Freedom Energy's goal of focusing its financial resources and efforts into the exploitation and marketing, both domestically and internationally, of its proprietary Oil technology KC 9000®.

"Our Board of Directors considered this opportunity to reduce debt and other liabilities a very good transaction for the company going forward. The party that purchased the leases is experienced in the production of oil and lives near the leases, so it was a natural fit for all concerned," stated Kistler.

"Freedom Energy's operations will now totally focus on the further development of KC 9000® in markets in which have been previously discussed as well as several others which have not been mentioned. The market for a product such as KC 9000® is worldwide and in keeping with our goal to fully realize the potential that KC 9000® offers, we have been and will continue to engage international concerns to assist our efforts in marketing licensing agreements. I hope to be able to make further announcements concerning our progress shortly," concluded Kistler.

The Contract Sale Lease Purchase Agreement Quintana Gold Resources Corp. ("QGRC") entered into with Freedom Energy Holdings, Inc., was cancelled on September 30, 2010 by mutual agreement.


Freedom Energy Holdings, Inc. is a holding company with its focus on the exploitation of opportunities in oil related markets. Freedom's KC 9000® oil technology is environmentally friendly and an effective cleaning solution of heavy oil sludge residue. Additionally, tests have shown variations of KC 9000® to be effective in getting heavy oil deposits to flow without heat. Freedom Energy Holding, Inc. is developing and marketing this uniquely effective proprietary technology for use by clients internationally, both by sale and licensing.

This press release contains certain "forward-looking" statements, as defined in the United States Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Statements, which are not historical facts, are forward-looking statements. The Company, through its management, makes forward-looking public statements concerning it expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no factors that could cause actual results to differ materially from those estimated by the Company. They include, but are not limited to, the Company's ability to develop operations, the Company's ability to consummate and complete the acquisition, the Company's access to future capital, the successful integration of acquired companies, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition, sales and other factors that may be identified from time to time in the Company's public announcements.

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