SOURCE: Friendly Energy Exploration

May 13, 2008 16:23 ET

Well Drilling Initiated, Surface Casing Set

CARSON CITY, NV--(Marketwire - May 13, 2008) - Friendly Energy Exploration (PINKSHEETS: FEGR), previously Friendly Energy Corp. (PINKSHEETS: FDEG). The Board of Directors reports today that the Company's drilling contractor has initiated drilling and reached a depth of seven hundred fifty three feet to the Upper Mississippian Zone, where they have set and cemented the surface casing. Drilling is to continue on a twenty-four hour per day basis until total depth is reached. It is anticipated that total depth will be reached within the next seven days.

The Company is informed by the projects consulting geologists that the potential oil structure targeted by this exploratory well has the possibility of yielding a potential twenty million barrel oil field.

"The Company is very pleased to have initiated the drilling process," states Company President, Douglas Tallant. "The operator indicates that the drilling is moving forward as expected. Total depth should be reached within the next seven days barring any delays due to mechanical failure."

The company will be participating in the drilling of a development well located in the Northern end of the prolific Forest City Basin, in Southern Iowa.

The company will have a 42.5% Working Interest and a 25% Net Revenue Interest in the first well and any subsequent wells drilled in an established area of mutual interest established by the drilling agreement.

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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