SOURCE: Friendly Energy Exploration

October 14, 2009 09:15 ET

Friendly Energy Brings Online Seventh Barnett Shale Well

CARSON CITY, NV--(Marketwire - October 14, 2009) - Friendly Energy Exploration. (PINKSHEETS: FEGR) The Company announces today that it has brought online the seventh of ten wells on the Panther Creek Prospect rework program.

Oil production from these wells, as they have been brought online, is consistent with expectations, with the exact flow figures yet to be determined on a well by well basis. Currently the existing tank battery is holding over 620 barrels of oil, with the company working to expand existing storage capacity.

The company is continuing to pursue the bonding and licensing process in order to achieve "Operator" status in an effort to maximize the percentage return to the company upon the sale of the onsite oil in storage.

The progress for the reworking of these wells is consistent with the overall plan to bring online all ten wells by year end.

The company also reports that it is moving forward to bring online four of the nineteen existing wells recently acquired on the Byler Lease, which is reported as an acquisition of over six hundred acres of Barnett Shale lease property.

"The company is very pleased with the progress of the rework programs of the Panther Creek Prospect and the Byler Lease," states Company President, Douglas Tallant. "The company anticipates that four of the nineteen Byler Lease wells will be brought online in the very near future. The company is well on track to meet its target production levels of 300 barrels of oil per day."

The company is currently performing due diligence on another potential lease and will provide details as they become available.

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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