FDEI Fidelis Energy Inc (CE)

Fidelis Energy, Inc. (OTCBB:FDEI), today is pleased to announce that the daily gas production at the North Franklin gas reservoir has now surpassed 3.0 Mmcf per day from production at the two wells, Archer-Whitney #1 and Archer-Wildlands #1. Fidelis has earlier reported the operator's strategy, which is to move the production rate up over a period of weeks, and will be undertaking additional flow rate increases 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. Fidelis receives PGE-Citygate gas pricing from North Franklin production, which on August 22nd was $8.19 Mcf. NYMEX natural gas futures have risen to over $10 per Mcf for the winter months of 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, 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. ON BEHALF OF THE BOARD Fidelis Energy, Inc. William Marshall -- President