SOURCE: Friendly Energy Exploration

June 26, 2008 09:15 ET

Friendly Energy Enters Into Letter of Intent

CARSON CITY, NV--(Marketwire - June 26, 2008) - Friendly Energy Exploration (PINKSHEETS: FEGR) -- The Company announces today that it has entered into a Letter of Intent with Southwest Talpa L.L.C. for the development of certain leases totaling 1300 acres located in Runnels County, Texas.

"The company is currently analyzing the potential for development of this prospect as an oil producing property," states Company President, Douglas Tallant. "This property currently has an existing well in place and Friendly Energy and its partners Southwest Talpa L.L.C. are analyzing the current production to determine an in-field drilling development plan.

"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.

For Additional Information:

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.

Contact Information