FDEI Fidelis Energy Inc (CE)

Fidelis Energy, Inc. (OTCBB:FDEI), today announces that management of the Company and Silver Star Energy, Inc. have collectively agreed to suspend the discussions as to the possible amalgamation of the two companies for a period of at least one year. Fidelis and Silver Star will continue to separately develop, along a parallel path, their own working interests in the North Franklin Project and the recently announced Kansas Play. Fidelis management feels that with the recent increases in commodity prices, especially the increased cash flow from the natural gas production in California, that the Company is well positioned to move forward aggressively on its own to develop the working interests on the various projects. Fidelis also wishes to announce that is moving forward on a large financing that will allow the full development of the North Franklin and Kansas projects. 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