SOURCE: Friendly Energy Exploration

September 30, 2009 06:00 ET

Friendly Energy Acquires 600 Acre Barnett Shale Lease

CARSON CITY, NV--(Marketwire - September 30, 2009) - Friendly Energy Exploration. (PINKSHEETS: FEGR) The Company announces today that it has acquired an additional Barnett Shale Oil lease in excess of 600 acres.

This lease, known as the Byler Lease, has 19 existing wells that were shut in and capped in the last three years and were producing between 5 and 15 barrels of oil per day per well when shut in.

The lease also provides for an additional 11 well sites of infield drilling, according to a 20 acre spacing allowance. The company plans to establish a rework and reopen plan for the existing 19 wells, in order to maximize their future production.

"The acquisition of over 600 lease acres of the prolific Barnett Shale Oil structure, provides the company with significant future production from a low risk infield drilling prospect," states Company President Douglas Tallant. "Upon completion of the rework of the 10 Panther Creek wells and the reworking and bringing on line of these 19 Byler lease wells, production is anticipated to exceed 300 barrels of Oil per day."

The Panther Creek Prospect rework program has been brought on line for initial testing the fourth of ten wells. Flow testing an individual is inconclusive at this time, however it is expected that upon the initial sale of the approximately 550 barrels of Oil currently held in the on-site tank battery, accurate flow figures per well can be determined.

The company continues to actively search for additional, existing, production to acquire in addition to any proven, low risk, infield drilling opportunities for both oil and gas.

Friendly Energy is committed to the exploration and development of its prospects to take advantage of the current market pricing in the price of oil and gas by developing undeveloped reserves with little downside risk. Friendly Energy is a development stage company in the Oil and Gas Exploration Industry.

This news release contains information that is "forward-looking" in that it describes events and conditions, which Friendly Energy Exploration. ("FEGR") reasonably expects to occur in the future. Expectations for the future performance of the business of FEGR are dependent upon a number of factors, and there can be no assurance that FEGR will achieve the results as contemplated herein and there can be no assurance that FEGR will be able to conduct its operations or production from its properties will result from or continue as contemplated herein. Certain statements contained in this report using the terms "may," "expects to," and other terms denoting future possibilities, are forward-looking statements. The accuracy of these statements cannot be guaranteed as they are subject to a variety of risks, which are beyond the Company's ability to predict, or control and which may cause actual results to differ materially from the projections or estimates contained herein. FEGR disclaims any obligation to update any forward-looking statement made herein.

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