SOURCE: Friendly Energy Exploration

October 22, 2009 11:30 ET

Friendly Energy Acquires Third Barnett Shale Lease

CARSON CITY, NV--(Marketwire - October 22, 2009) - Friendly Energy Exploration (PINKSHEETS: FEGR) is pleased to announce today that it has acquired its third Barnett Shale lease known as the "Mud Creek Lease "consisting of 355 acres. The company has a 100% Working Interest (WI) with an 80% Net Revenue Interest (NRI).

Included with this lease are eight existing wells that are currently shut in. Four of the eight wells have well head equipment in place. We believe that these wells can be brought on-line in a short period of time and for relatively low costs.

"The acquisition of this third Barnett Shale Lease is part of the company's business plan to develop proven, low risk oil producing properties," stated President, Douglas Tallant. "With four of the eight existing Mud Creek wells requiring very little rework, these wells will move the company closer to its production target of 300 barrels of oil per day."

The company continues to actively search for additional production that fit our strategy of acquiring 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 of oil and gas by developing undeveloped reserves with little downside risk.

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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