FDEI Fidelis Energy Inc (CE)

Fidelis Energy, Inc. (OTCBB:FDEI), today updates the status of the "Archer-Wildlands #1". The well is still drilling ahead after a short delay that occurred as the well deviated from the directional drilling program. In order to intersect the targeted pay zone planned from the 2D seismic, the well required a slight directional reorientation. The operator has worked to solve the deviation issue and is now on track to drill through the Winters sand objective over the next day or so. Fidelis now expects to receive the suite of electronic logs and data mid week. The Company will endeavor to report drilling results as soon as they are available. Fidelis receives PGE-Citygate gas pricing from North Franklin production, which on July 8th was in the $6.65 per Mcf range. ABOUT FIDELIS ENERGY INC. Based in Tucson, AZ, Fidelis Energy is an oil and gas company dedicated to solving North America's complex energy problems. Fidelis Energy identifies, acquires and develops working interest percentages in smaller, underdeveloped oil and gas projects in California, Canada, and other promising locales that do not meet the requirements of larger producers and developers. Through the use of modern development techniques such as horizontal drilling and 3-D seismic, the company enhances production from underdeveloped and under-utilized projects, as it pursues oil and gas production throughout North America. Safe harbor for Forward-Looking Statements: Except for statements of historical fact, the information presented herein constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which Fidelis Energy, Inc. has little or no control. For more information, please visit our website at www.FidelisEnergy.com, or contact: Investor Relations 1-888-894-3334 (Contact: William Marshall) ON BEHALF OF THE BOARD Fidelis Energy Inc. William Marshall -- President