CARSON CITY, Nev., Dec. 19, 2005 (PRIMEZONE) -- Friendly Energy Corporation (Pink Sheets:FDEG) announces today that the seismic program that was started at the end of September has been completed and results are expected this week.
The primary delay in finishing the confirmation 2-D seismic, lay in the fact that hunting season in the area prohibited blasting and the ability to shoot for the seismic data.
In anticipation of the results of the confirmation seismic, the company has been acquiring additional acreage in the Peach Creek area. The company now has a land position nearing 500 total acres. Additional acreage is being sought for the further development of this significant prospect.
"The Company can now finalize the process of identifying its drill targets," states company President Mr. Douglas Tallant, "We are completely on schedule with our developmental plans. The company will be drilling as soon as the end of February, 2006 subject to drilling rig availability."
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 Inc. ("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.