SOURCE: Radial Energy Inc.

May 01, 2007 09:09 ET

Radial Energy Spuds Huaya 100-2X Well in Peru - Sets Surface Casing

HOUSTON, TX -- (MARKET WIRE) -- May 1, 2007 -- Radial Energy Inc. (OTCBB: RENG) ("Radial" or the "Company) is pleased to announce that the Huaya 100-2X well was spudded on Friday April 27th, 2007. The Huaya 100-2X well was drilled to 203 feet and surfacing casing was cemented into place on Sunday April 29th. Management expects drilling to reach total depth of 900-950 feet within the next 72 hours, followed by completion and production testing.

The Huaya 100-2X well, according to CCP geologists and Gustavson Associates is located in an optimum position to encounter the primary target Vivian Sandstone at a structurally higher position than the recently drilled 1X well and the original 4X discovery well. The 1X well encountered the Vivian Sandstone at 807 feet (318 feet below sea level), and the operator confirmed that an oil bearing zone has been identified in an interval within the Vivian from 807 to 821 feet, indicating 14 feet of net pay.

According to Radial COO Omar Hayes, "We are very excited about the Huaya 2X well as it will help confirm the potential size of our discovery as well as to determine initial production rates." Adding, "We expect the Huaya 100-2X to gain significant additional pay as we work our way to the sweet spot of the reservoir and the apex of the structure."

About Radial Energy Inc. (OTCBB: RENG)

Radial Energy identifies, acquires, and develops low risk oil and natural gas exploration and development opportunities throughout the Americas. The Company's innovative strategy involves targeting overlooked or under-developed reserves that are under the radar of multinational oil companies and out of the reach of small independents.

The Company targets prospective oil and natural gas opportunities in historically productive regions with a focus on identifying previously drilled but undeveloped exploratory wells that, due to factors at the time of initial drilling including the absence of pipeline infrastructure, lack of modern recovery technology, poor geological or engineering interpretation or low oil and gas prices, were not fully exploited.

Radial Energy is led by a highly motivated team of industry veterans with proven expertise in North, Central and South American oil and natural gas development. Bolstered by first-rate management, farsighted acquisitions, the speed and agility to take advantage of changing market conditions, a firm commitment to building value for shareholders and the growing demand for energy worldwide, Radial Energy is taking maximum advantage of a tremendous opportunity to develop overlooked and under-developed oil and gas reserves in North and South America.

Forward-Looking Statements

Except for statements of historical fact, the information presented herein contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include the statements regarding the Company's expectations, hopes or intentions regarding the future. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include the ability to successfully drill and complete wells such as the Huaya 100-1X well, general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund future operations, and changes in consumer and business consumption habits and other factors over which Radial Energy Inc. has little or no control.

Radial Energy Inc.
G. Leigh Lyons, President

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