Friendly Energy Achieves Operator Status

CARSON CITY, NV--(Marketwire - 11/17/09) - Friendly Energy Exploration. (Pinksheets:FEGR - News) The Company announces today that it has completed the final requirements to acquire its operator's license and has passed the final site inspection for the Panther Creek Prospect. "The completion of this final inspection and the receiving of Operator Status is just another milestone of achievement of the Friendly Energy Corp business plan," states Company President, Douglas Tallant. "The company anticipates that it will be making its first oil sales within the next week. Upon completion of the first oil sales the company will begin establishing flow rates for the newly reworked wells on a one by one basis. The company continues to move closer every day to meeting its target production levels of 300 barrels of oil per day for the near future."The company continues to actively search for additional, existing, production to acquire in addition to any proven, low risk, infield drilling opportunities for both oil and gas.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. ...
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FRIENDLY ENERGY EXPLORATION Files SEC form 10-Q, Quarterly Report

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULT OF OPERATIONS. This following information specifies certain forward-looking statements of management of the company. Forward-looking statements are statements that estimate the happening of future events are not based on historical fact. Forward-looking statements may be identified by the use of forward-looking terminology, such as "may", "shall", "will", "could", "expect", "estimate", "anticipate", "predict", "probable", "possible", "should", "continue", or similar terms, variations of those terms or the negative of those terms. The forward-looking statements specified in the following information have been compiled by our management on the basis of assumptions made by management and considered by management to be reasonable. Our future operating results, however, are impossible to predict and no representation, guaranty, or warranty is to be inferred from those forward-looking statements. The assumptions used for purposes of the forward-looking statements specified in the following information represent estimates of future events and are subject to uncertainty as to possible changes in economic, legislative, industry, and other circumstances. As a result, the identification and interpretation of data and other information and their use in developing and selecting assumptions from and among reasonable alternatives require the exercise of judgment. To the extent that the assumed events do not occur, the outcome may vary substantially from anticipated or projected results, and, accordingly, no opinion is expressed on the achievability of those forward-looking statements. No assurance can be given that any of the assumptions relating to the forward-looking statements specified in the following information are accurate, and we assume no obligation to update any such forward-looking stat...
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Friendly Energy Acquires Third Barnett Shale Lease

CARSON CITY, NV--(Marketwire - 10/22/09) - Friendly Energy Exploration (Pinksheets:FEGR - News) is pleased to announce today that it has acquired its third Barnett Shale lease known as the "Mud Creek Lease "consisting of 355 acres. The company has a 100% Working Interest (WI) with an 80% Net Revenue Interest (NRI). Included with this lease are eight existing wells that are currently shut in. Four of the eight wells have well head equipment in place. We believe that these wells can be brought on-line in a short period of time and for relatively low costs."The acquisition of this third Barnett Shale Lease is part of the company's business plan to develop proven, low risk oil producing properties," stated President, Douglas Tallant. "With four of the eight existing Mud Creek wells requiring very little rework, these wells will move the company closer to its production target of 300 barrels of oil per day."The company continues to actively search for additional production that fit our strategy of acquiring proven, low risk, infield drilling opportunities for both oil and gas. Friendly Energy is committed to the exploration and development of its prospects to take advantage of the current market pricing of oil and gas by developing undeveloped reserves with little downside risk.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...
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Friendly Energy Brings Online Seventh Barnett Shale Well

CARSON CITY, NV--(Marketwire - 10/14/09) - Friendly Energy Exploration. (Pinksheets:FEGR - News) The Company announces today that it has brought online the seventh of ten wells on the Panther Creek Prospect rework program. Oil production from these wells, as they have been brought online, is consistent with expectations, with the exact flow figures yet to be determined on a well by well basis. Currently the existing tank battery is holding over 620 barrels of oil, with the company working to expand existing storage capacity.The company is continuing to pursue the bonding and licensing process in order to achieve "Operator" status in an effort to maximize the percentage return to the company upon the sale of the onsite oil in storage.The progress for the reworking of these wells is consistent with the overall plan to bring online all ten wells by year end.The company also reports that it is moving forward to bring online four of the nineteen existing wells recently acquired on the Byler Lease, which is reported as an acquisition of over six hundred acres of Barnett Shale lease property."The company is very pleased with the progress of the rework programs of the Panther Creek Prospect and the Byler Lease," states Company President, Douglas Tallant. "The company anticipates that four of the nineteen Byler Lease wells will be brought online in the very near future. The company is well on track to meet its target production levels of 300 barrels of oil per day."The company is currently performing due ...
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FRIENDLY ENERGY EXPLORATION Financials

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FRIENDLY ENERGY EXPLORATION Files SEC form 10-K/A, Annual Report

ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS. This following information specifies certain forward-looking statements of management of the company. Forward-looking statements are statements that estimate the happening of future events are not based on historical fact. Forward-looking statements may be identified by the use of forward-looking terminology, such as "may", "shall", "will", "could", "expect", "estimate", "anticipate", "predict", "probable", "possible", "should", "continue", or similar terms, variations of those terms or the negative of those terms. The forward-looking statements specified in the following information have been compiled by our management on the basis of assumptions made by management and considered by management to be reasonable. Our future operating results, however, are impossible to predict and no representation, guaranty, or warranty is to be inferred from those forward-looking statements. The assumptions used for purposes of the forward-looking statements specified in the following information represent estimates of future events and are subject to uncertainty as to possible changes in economic, legislative, industry, and other circumstances. As a result, the identification and interpretation of data and other information and their use in developing and selecting assumptions from and among reasonable alternatives require the exercise of judgment. To the extent that the assumed events do not occur, the outcome may vary substantially from anticipated or projected results, and, accordingly, no opinion is expressed on the achievability of those forward-looking statements. No assurance can be given that any of the assumptions relating to the forward-looking statements specified in the following information are accurate, and we assume no obligation to update any such forward-looking stat...
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Friendly Energy Acquires 600 Acre Barnett Shale Lease

CARSON CITY, NV--(Marketwire - 09/30/09) - Friendly Energy Exploration. (Pinksheets:FEGR - News) The Company announces today that it has acquired an additional Barnett Shale Oil lease in excess of 600 acres. This lease, known as the Byler Lease, has 19 existing wells that were shut in and capped in the last three years and were producing between 5 and 15 barrels of oil per day per well when shut in.The lease also provides for an additional 11 well sites of infield drilling, according to a 20 acre spacing allowance. The company plans to establish a rework and reopen plan for the existing 19 wells, in order to maximize their future production."The acquisition of over 600 lease acres of the prolific Barnett Shale Oil structure, provides the company with significant future production from a low risk infield drilling prospect," states Company President Douglas Tallant. "Upon completion of the rework of the 10 Panther Creek wells and the reworking and bringing on line of these 19 Byler lease wells, production is anticipated to exceed 300 barrels of Oil per day."The Panther Creek Prospect rework program has been brought on line for initial testing the fourth of ten wells. Flow testing an individual is inconclusive at this time, however it is expected that upon the initial sale of the approximately 550 barrels of Oil currently held in the on-site tank battery, accurate flow figures per well can be determined.The company continues to actively search for additional, existing, production to acquire in addition t...
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Friendly Energy Barnett Shale Prospect

CARSON CITY, NV--(Marketwire - 09/17/09) - Friendly Energy Exploration (Pinksheets:FEGR - News) -- The Company announces today that it has begun the process of acquiring an Operators Bond with the Texas Rail Road Commission. Once the bond has been placed and the application approved, Friendly Energy will become a licensed operator for its wells in the State of Texas."This application, upon approval, will provide the company the ability to more closely control all aspects of the oil field production and development of our current and future prospects," states Company President, Douglas Tallant. "This is just one of the many steps the company is taking to achieve its business goals of becoming an efficient, low cost producer of proven oil and gas reserves."The initial well for the Panther Creek Prospect rework program has been identified and it is anticipated work will begin in the next 10 days.The company continues to actively search for additional, existing, production to acquire in addition to any proven, low risk, infield drilling opportunities for both oil and gas.Currently the company has identified several potential prospects, and is performing the required due diligence to verify the economic viability of those acquisitions. Further information will be provided as those processes are concluded.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 lit...
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Panther Creek Prospect Production Enhancement Update

CARSON CITY, NV--(Marketwire - 09/14/09) - Friendly Exploration (Pinksheets:FEGR - News). The Company reports today that the Board of Directors has determined with the company's onsite operator, to begin a reworking program of 10 of the Panther Creek Prospects existing wells. It is anticipated that the reworking of these wells could enhance daily production to the 50 barrel per day per well level, with the addition of natural gas production yet to be determined."This has the potential for providing the company with positive cash flow on a consistent basis over the near term. These wells provide the potential for the development of an oil producing field from a proven geological formation," states Company President, Douglas Tallant. "These proven producing wells provide the company with the opportunity to gain a significant reserve base of proven developed reserves, if successful, that will enable the company to leverage its further development to the next level as an oil production and exploration company."The company has a 100% Working Interest and a 80% Net Revenue Interest of the Twelve well Panther Creek Prospect.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 descr...
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Friendly Energy Aquires Barnett Shale Prospect

CARSON CITY, NV--(Marketwire - 08/25/09) - Friendly Energy Exploration (Pinksheets:FEGR - News) announces today that it has acquired the PANTHER CREEK PROSPECT, a West-Central-Texas, Barnett Shale formation. The company has acquired an acreage containing 12 existing wells on three contiguous leases located in the South Western Region of the Prolific Barnett Shale Region. These existing wells are producing 5-7 barrels of oil per day currently with a historical production of approximately 82,000 barrels.The Panther Creek Prospect will be a water flood/pressure maintenance project with the potential to produce up to an estimated 165,000 barrels of Oil."I am very pleased with the potential of this acquisition," states Company President Douglas Tallant. "The company has purchased this lease outright and is now in the process of fracing and reworking the existing wells to increase production. Once the rework phase has been completed, the company will begin the water flood/pressure maintenance stage. The company continues to search for additional existing production to acquire in addition to any infield drilling opportunities for both oil and gas."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-looki...
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