FDEI Fidelis Energy Inc (CE)

Fidelis Energy Inc. (OTCBB: FDEI), today reports that the July gas production at the "Archer-Whitney #1" well at the company's North Franklin gas reservoir totaled 46.212 Mmcf for the 31 days in July. The average daily production was 1.49 Mmcf per day. The well has exhibited stable production at these rates since the onset of production in March 2005. Now that the second well has been drilled and the partners have gained important information on the reservoir integrity, the operator has indicated that the gas flow rates at the "Archer-Whitney #1" well can be safely increased. Fidelis will report when this occurs and update rates when available. As reported yesterday, the completion program at the "Archer-Wildlands #1" well is ongoing and the company will report on all developments when information is received from the operator. Fidelis receives PGE-Citygate gas pricing from North Franklin production, which on Aug. 1 was in the $7.14 per Mcf range. NYMEX natural gas futures have risen to between $8.15 and $9.54 for 2005-2006 giving Fidelis an indication of what the revenue from upcoming gas production may be in the near future. About Fidelis Energy Inc. Based in Tucson, Ariz., 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 underutilized 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 Web site at www.FidelisEnergy.com, or contact: Investor Relations, 888-894-3334 (Contact: William Marshall)