SOURCE: Friendly Energy Exploration

July 10, 2008 09:00 ET

Friendly Energy Reports Initial Production

CARSON CITY, NV--(Marketwire - July 10, 2008) - Friendly Energy Exploration (PINKSHEETS: FEGR) -- The Company announces today that its joint venture partners Southwest Talpa L.L.C., for the development of certain leases totaling 1300 acres located in Runnels County, Texas has reported that the road to the existing well is near completion.

"The well is currently producing approximately 15 barrels of oil and 50 mcf of gas per day at this time. Friendly Energy and its partners Southwest Talpa L.L.C are analyzing the current production to determine how to enhance the per day oil production through the application of common industry methods such as fracing or stimulating the structure, or introducing a larger down hole pump," states Company President Douglas Tallant. "This well currently will produce approximately $60,000.00 per month of gross oil sales at the current market prices. It is the company's target to enhance daily production to a minimum of 50 barrels of oil per day or in excess of $200,000.00 of revenue per month based upon $135.00 per barrel oil prices. The typical Serratt well produces in a range of 70,000 to 100,000 barrels ultimate recovery per well, giving the gross potential for this field of up to 3,000,000 barrels."

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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