CARSON CITY, Nev., Sept. 28, 2005 (PRIMEZONE) -- Friendly Energy Corporation (Pink Sheets:FDEG) announces today that it has engaged Eagle Explorations Inc. of Michigan to conduct conformation seismic lines of the Peach Creek West prospect in Pottawatomie County, Oklahoma.
Eagle Explorations Inc. will begin laying the hole pattern Monday to shoot two (2), one mile, two-dimensional (2-D) seismic lines to establish potential drilling targets, and confirm the structure identified by previous seismic lines shot on the Peach Creek West Prospect.
The potential per well reserves in the Peach Creek Prospect are expected to be 200,000 BO from the Viola and Wilcox, and 100,000 BO from the Bois d'Arc Hunton. Combined reserves are conservatively estimated to be 300,000 BO per well. The prospect structure is large enough to accommodate four (4) wells drilled on 40-acre spacing units.
"Friendly Energy is very pleased to be working with such a qualified and professional firm as Eagle Explorations Inc.," states company president Mr. Douglas Tallant. "We anticipate that the process will be completed within the next two (2) weeks. When this stage of the prospect development is complete, we will be able to determine drilling targets and move forward to finalize our drilling plans."
Friendly Energy Corporation 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. Further information can be reviewed at www.raysuhm.com.
This news release contains information that is "forward-looking" in that it describes events and conditions which Friendly Energy Corporation ("FDEG") reasonably expects to occur in the future. Expectations for the future performance of the business of FDEG are dependent upon a number of factors, and there can be no assurance that FDEG will achieve the results as contemplated herein and there can be no assurance that FDEG 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. FDEG disclaims any obligation to update any forward-looking statement made herein.