Bedford Energy Announces Drilling to Begin on Grace #3admin
Bedford Energy, Inc. (PINKSHEETS: BFDE) (Cusip 076110 105) announces that it is currently constructing a drilling location and is moving a drilling rig onto the Grace #3. Drilling is scheduled to begin Monday, July 17, 2006.
The Grace #3 is a direct offset, south of the Grace #1 and will be drilled to a total depth of 5,100 feet, through the Hunton formation.
The Grace #3 is the second well of a five well drilling program on the East Chandler Prospect in Oklahoma, and is a joint venture with Grace Oil and Gas and Buckeye Exploration.
Independent Oil and Gas
Bedford Energy specializes in the recovery of oil & gas reserves through acquisition and project development, including existing field enhancement, and low-risk exploration opportunities. The Company has also created an oil field equipment division with specific industry alliances for resale.
INFORMATION CONTAINED HEREIN MAY CONTAIN FORWARD-LOOKING STATEMENTS WHICH ARE NOT GUARANTEES OF FUTURE SUCCESS OR THAT THERE CANNOT BE LOSSES. THE ACTUAL PRESENCE OR RECOVERABLITY OF RESERVES FOR OPTIMAL AND TIMELY RECOVERY, WELL COSTS OR SCHEDULES OR OTHER MATTERS CANNOT BE PROMISED. THIS RELEASE CONTAINS “SAFE HARBOR” PROVISIONS OF THE US PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 & INVOLVES RISKS & UNCERTAINTIES WHICH COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE ESTIMATED HEREIN.
BEDFORD BELIEVES THE FORWARD-LOOKING STATEMENTS ARE BASED ON CURRENT REASONABLE ASSUMPTIONS BUT CAN GIVE NO ASSURANCE THAT RESULTS WILL BE ACHIEVED. UNPREDICTABLE & UNANTICIPATED RISKS, TRENDS AND UNCERTAINTIES INCLUDING INABILITY TO ACCURATELY FORECAST OPERATING RESULTS; THE POTENTIAL INABILITY TO ACHIEVE PROFITS OR HAVE CASH FLOW; ACCESS TO FINANCING; AND OTHER MORE MUST BE UNDERSTOOD. BEDFORD ASSUMES NO OBLIGATION TO UPDATE OR SUPPLEMENT FORWARD-LOOKING STATEMENTS THAT BECOME UNTRUE BECAUSE OF SUBSEQUENT EVENTS.
BEDFORD ENERGY, INC., 221-B W. EDMOND RD, EDMOND OK 73003
For additional information contact: Email Contact
or visit www.bedfordenergy.com