SOURCE: Friendly Energy Exploration

March 26, 2008 13:59 ET

Friendly Energy Exploration: Corporate Restructuring Update

CARSON CITY, NV--(Marketwire - March 26, 2008) - Friendly Energy Exploration (PINKSHEETS: FEGR), previously Friendly Energy Corp. (PINKSHEETS: FDEG), reported today that the Board of Directors had previously authorized a name change and consolidation of the Company's outstanding share capital on a 1 share for 25 share basis. The Consolidation was made effective March 24, 2008.

The Board of Directors has determined that this consolidation of shares will help create a greater level of interest among investors and potential analysts. This will, in turn, enable the company to seek further financing opportunities without the dilution the previous share structure required.

"Friendly Energy is now moving forward in the identification and development of new prospects," stated President Douglas Tallant. "We expect that this new share structure will enable the company to close a significant financing in the near future, enabling the company to execute on its business plan."

Friendly Energy is a development stage company in the Oil and Gas Exploration Industry. Friendly Energy is committed to the low-risk exploration and development of oil and gas prospects, domestically and elsewhere, in order to take full advantage of the current market conditions and elevated price of oil and gas.

For further information, please visit the investor information page on the Company's corporate Website: http://www.fdeg.biz.

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

  • Contact:
    Friendly Energy Exploration
    Email Contact
    Phone: 702-953-0411
    Fax: 702-987-1355