SOURCE: Friendly Energy Exploration

August 25, 2009 09:15 ET

Friendly Energy Aquires Barnett Shale Prospect

CARSON CITY, NV--(Marketwire - August 25, 2009) - Friendly Energy Exploration (PINKSHEETS: FEGR) announces today that it has acquired the PANTHER CREEK PROSPECT, a West-Central-Texas, Barnett Shale formation.

The company has acquired an acreage containing 12 existing wells on three contiguous leases located in the South Western Region of the Prolific Barnett Shale Region. These existing wells are producing 5-7 barrels of oil per day currently with a historical production of approximately 82,000 barrels.

The Panther Creek Prospect will be a water flood/pressure maintenance project with the potential to produce up to an estimated 165,000 barrels of Oil.

"I am very pleased with the potential of this acquisition," states Company President Douglas Tallant. "The company has purchased this lease outright and is now in the process of fracing and reworking the existing wells to increase production. Once the rework phase has been completed, the company will begin the water flood/pressure maintenance stage. The company continues to search for additional existing production to acquire in addition to any 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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