$FEGR
Friendly Energy Announces Additional Testing on Byler Lease
BROWNWOOD, TX, Mar 16, 2012 (MARKETWIRE via COMTEX) -- Friendly Energy Exploration (OTCBB: FEGR) will soon be re-entering several dormant wells for testing on its Byler Lease in Brown County, Texas.
Rick Hutchins, COO, stated, "The current wells producing are wells which were selected months ago to rework in order to determine the steps to take on the Byler lease. The rework on these wells has been successful, and we believe warrants moving to others on the lease for reworking purposes rather than plugging them. Historically, the lease has been very prolific, producing from the Fry Sand at less than 1,300 feet. With the technology we are employing, we expect additional success in our efforts on this lease."
Doug Tallant, President of Friendly Energy, agrees and has stated, "The Byler lease as an older, mature lease still offers additional production potential from the shallow sands. We intend to exploit that in additional to looking at the possibility of drilling a deeper well to test the Caddo Limestone and the Marble Falls Limestone, both prolific in the area and less than 2,800 feet in depth."
About Friendly Energy:
Friendly Energy is an exploration, development and production company in the Oil and Gas Exploration Industry. The company is focusing on low cost oil and gas recovery in the State of Texas and Oklahoma. Friendly Energy is committed to building shareholder value by taking advantage of the current market pricing of oil and gas by developing undeveloped reserves with little downside risk. Please see the company's website: www.fegr.biz .
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.
Contact: Sean Tallant 1 970-464-2619
SOURCE: Friendly Energy Exploration
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SUBJECT CODE: Energy and Utilities:Oil and Gas
