SOURCE: Wall Street News Alert

June 27, 2005 08:43 ET

Wall Street News Alert: FDEG Subsidiary Begins Prospect Development!

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by Wall Street Capital Funding.

WESTON, FL -- (MARKET WIRE) -- June 27, 2005 -- Wall Street News Alert's "stocks to watch" this morning are: Friendly Energy Corporation (OTC: FDEG), Schering-Plough Corporation (NYSE: SGP), Merck & Co., Inc. (NYSE: MRK) and EMC Corporation (NYSE: EMC).

Friendly Energy Corporation (OTC: FDEG) may be appearing on the radar screen of aggressive investors and day traders this morning! Friday after the stock markets closed, the company issued a press release announcing that its wholly owned subsidiary Friendly Energy Services Inc., through its letter agreement with Mr. Ray Suhm of Oklahoma, has nearly completed the process of identifying several central Oklahoma prospects for development.

This could be great news to investors! The company been engaged with Mr. Suhm for the purpose of identifying and developing these prospects, of which Mr. Suhm has over 300 Oklahoma prospects on file that have been put together using some 12,000 miles of 100% and CDP seismic data. These prospects range from low risk development prospects to frontier plays and include shallow, intermediate, and deep targets for both oil and natural gas.

According to the company's press release, several of the identified prospects have the potential for potential in ground reserves in excess of 500,000 barrels of oil each.

Investors should continue to monitor the prospects of Friendly Energy for further developments! "Friendly Energy Services has mandated that it will develop a package of prospects with the assistance of Mr. Suhm to capitalize on his expertise in identifying and exploring several promising prospects that have been identified to the Company," states Company president Mr. Douglas Tallant. "We expect the preliminary stages of development for these prospects to begin within the next several weeks."

Keep your eyes on Friendly Energy Corporation! The company is a development company involved in exploration of low risk oil and gas properties in the United States.

Mr. Suhm has nearly 40 years of experience as a geologist and geophysicist.

For updated in-depth coverage and a company profile of Friendly Energy, visit http://www.backissuesofnewsalerts.us/FDEG0627.htm

Prior to the news release, the stock closed on Friday at Ten cents a share.

Stocks showing interesting activity yesterday at the close of the regular trading day were: Schering-Plough Corporation (NYSE: SGP) down 2.2% on 5.9 million shares traded, Merck & Co., Inc. (NYSE: MRK) down 2.2% on 10 million shares traded and EMC Corporation (NYSE: EMC) down 1.8% on 11.1 million shares traded.

Commentary:

"Rising oil prices plagued Wall Street again Friday as the Dow Jones industrial average suffered its second straight 100-point-plus loss, ending a week dominated by concerns that energy costs would soon eat into corporate profits. All three indexes finished the week substantially lower," stated Sonja Rudd in Wall Street News Alert's daily commentary continued at: http://www.WallStreetNewsAlert.com.

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