SOURCE: Friendly Energy Exploration

January 14, 2010 09:15 ET

Friendly Energy Exploration to Begin Developing Byler Field

CARSON CITY, NV--(Marketwire - January 14, 2010) - Friendly Energy Exploration (PINKSHEETS: FEGR) is pleased to announce that it has mobilized its production team to begin developing its Byler lease. Company President Douglas Tallant states, "We have begun the process of uncapping and reworking the wells of Byler field this week. We expect to get production and reserve numbers from seven wells on this lease over the next two months."

The Byler lease totals 372 acres, of which approximately 57% is in a defined Fry Sand oil field. Of the 17 wells, two are water injection wells, 11 are Fry wells and four are Marble Falls wells. Of the Fry wells, we expect to rework only five, because the other six have environmental problems for which the previous operator is responsible. Of the Marble Falls wells, we expect to rework only two, because one had a tool dropped down the hole and the other will probably be uneconomic to rework. It may be feasible to drill some of the Fry wells deeper and recomplete in the Caddo or Marble Falls.

The company would also like to announce that one of the water injected wells at its Panther Creek field will be plugged early next week. Following completion of this process, they expect to ship oil from this field to market with the approval of the Texas Railroad Commission.

About Friendly Energy: Friendly Energy is an exploration, development and production company in the Oil and Gas Exploration Industry. The Company is focusing on low cost oil and gas recovery in the State of Texas and Oklahoma. Friendly Energy is committed to building shareholder value by taking advantage of the current market pricing of oil and gas by developing undeveloped reserves with little downside risk. Please see the company's website:

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

  • For Additional Information:
    Sean Tallant
    1 970 434 4297