SOURCE: Friendly Energy Corp.

August 15, 2007 13:05 ET

Friendly Energy: Oklahoma Drill Date Has Been Set

CARSON CITY, NV--(Marketwire - August 15, 2007) - Friendly Energy Corp. (PINKSHEETS: FDEG) reported today that its operator, Tech Energy of Oklahoma, has established a spud date for the Company's previously announced project in Beaver County, Oklahoma. Pheasant Run #1, which is the next well in line, should spud +/- August 26-27.

Tech Energy has contracted with Titan Drilling to provide a rig for this project. To prepare the site, a service company will begin to pull the rods and tubing next week. This first well is a re-entry well with potential production from multiple proven zones to an approximate depth of 7000 feet. Drilling of the re-entry well is scheduled to begin imminently.

"We are very pleased to have the opportunity to work with Tech Energy as operator for these two oil and gas wells," stated Douglas Tallant, President. "Friendly Energy looks forward to participating in a project of this nature with such a reputable company; one with a proven track record of success."

Friendly Energy is committed to the timely exploration and development of its prospects in order to take advantage of the current market conditions for oil and gas. Friendly Energy targets undeveloped reserves with the least possible 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 Corp. ("FDEG") reasonably expects to occur in the future. Expectations for the future performance of the business of FDEG are dependent upon a number of factors, and there can be no assurance that FDEG will achieve the results as contemplated herein and there can be no assurance that FDEG 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. FDEG disclaims any obligation to update any forward-looking statement made herein.

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