FDEI Fidelis Energy Inc (CE)

Fidelis Energy Inc. (OTCBB: FDEI) today announces that the daily gas production at the "Archer-Whitney #1" well at North Franklin has been stepped up to 1.8 Mmcf per day, and is capable of going higher. The operator's goal is to move the production rate up to 2 Mmcf per day over the next few weeks and will be undertaking further increases of the gas flow rates over time. After each increase of the production rate, an evaluation period will be required to assess the well pressures, performance and to maintain reservoir integrity. The combined production from the "Archer-Whitney #1" and the "Archer-Wildlands #1" as of today is 2.8 Mmcf per day. Fidelis receives PGE-Citygate gas pricing from North Franklin production, which on Aug. 8 was $8.02 per Mcf. NYMEX natural gas futures have risen to between $8.68 and $9.91 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)