SOURCE: Galloway Energy Inc.

Galloway Energy Inc.

June 09, 2009 09:00 ET

Galloway Energy Announces West Texas Gas Well in Production

RENO, NV--(Marketwire - June 9, 2009) - Galloway Energy Inc. (PINKSHEETS: GWGI) ("Galloway" or the "Company") is pleased to advise that the West Texas Project gas well announced as part of the Company's acquisition program is a producing, commercially viable well.

The gas well was drilled, cased, completed and stimulated during the past month. Subsequent to the completion of a tie-in to the pipeline infrastructure, the well has been producing gas since late May of 2009 at daily rates of 200 MCF per day.

The operator has estimated that the gas reserves associated with this well are approximately 0.5 BCF. This initial well is the first of 20 wells that are planned to be drilled and completed on the leased acreage. Further details will be announced to stakeholders regarding the timing of the on-going development plan at the West Texas Project as information becomes available.

Notice Regarding Forward-Looking Statements

This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of our exploration program at our energy properties and any anticipated future production. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with petroleum exploration and development stage exploration companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate.

Galloway Energy Inc.
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Shane Lowry
President and Chief Executive Officer

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