SOURCE: IO Circuit

September 15, 2006 07:00 ET

GrowthStockResearch.com Spotlights Price Target for RENG at $3.25

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by the IO Circuit

LAKE HARMONY, PA -- (MARKET WIRE) -- September 15, 2006 -- Radial Energy Inc. (OTCBB: RENG) (the "Company") announced today that drilling operations at the G.D. Staton Well No. 1, Highway 79 Prospect, Cherokee County, Texas, are proceeding on track and on schedule. Management is extremely pleased with the progress made to date.

Radial Energy has been notified by its operator, MLC Operating, L.P. ("MLC") of Houston, Texas, that drilling is advancing at the G.D. Staton Well No. 1. Drilling operations began on September 8, 2006 and drilling progress is ahead of schedule and currently at a depth of approximately 4,600 feet. The joint operating agreement between Radial and its partners contracts MLC to undertake the initial test well to a proposed depth of 4,950 feet targeting the 1, 2 & 3 Woodbine Sands, where internal studies have indicated a potentially net recoverable of 5.3 million barrels of oil and 1.68 billion cubic feet of natural gas from all three zones.

To read the complete release, go to http://biz.yahoo.com/iw/060913/0162884.html

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