FDEI Fidelis Energy Inc (CE)

Fidelis Energy, Inc. (OTCBB:FDEI), today reports on the gas production totals for the month of August. Production was from the two gas wells; "Archer-Whitney #1" and "Archer-Wildlands #1" at the Company's North Franklin gas reservoir. August production totaled 78.89 Mmcf for the month. The "Archer-Whitney #1" well monthly production was 49.16 Mmcf and the "Archer-Wildlands #1" well produced 26.73 Mmcf since production began on August 8th. Since August 22nd, after increasing the flow rates, the two wells combined production has surpassed 3.0 Mmcf per day. Fidelis receives PGE-Citygate gas pricing from North Franklin production, which on September 2nd was quoted at $9.64 per mcf. Gas pricing is up over $3.00 per mcf or 30% since commercial production began in March of this year. William Marshall, president, states, "Fidelis has estimated that the production revenue for August at North Franklin will be over $150,000, which will be the first check that represents the combined cash flow from the two wells." Fidelis continues to watch NYMEX natural gas futures that have sharply risen over recent months. On September 2nd, futures were quoted between $11.76 for October and $12.11 through March over the winter months due to natural gas supply concerns over the recent developments in the Gulf region. 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 888-894-3334 (Contact: William Marshall) ON BEHALF OF THE BOARD Fidelis Energy Inc. William Marshall - President