HOUSTON, Aug. 6 /PRNewswire-FirstCall/ -- EnDevCo, Inc. (OTC:EDVC) (BULLETIN BOARD: EDVC) , the Energy Development Company, is pleased to update its shareholders and the investment community on the developments that have taken place over the last year and its current status as the Company continues to execute its business plan and corporate goals. "We have experienced tremendous growth over the last twelve months and would like to identify for our current shareholders and the investing public those events/activities that have taken place that helped us make the shift from an emerging growth company to a fully producing oil and gas company. Now that this has been accomplished, we will move forward with our drilling campaign to fully exploit the more than 45 million barrels of oil equivalent proved reserves that we have in our North American properties," commented Chris A. Dittmar, Chief Executive Officer of EnDevCo. Most recently, the Company completed drilling and testing of the first horizontal well in Short Junction Field, located in Cleveland County, Oklahoma. The well, WSJU #109 StH, produced better than projected preliminary results, reaching a peak production of 293 barrels of oil and 250 Mcf of associated gas. EnDevCo is currently planning the fracture stimulation of the well to maximize its production capabilities. In addition to the horizontal well, Short Junction is also producing from 23 oil and 2 gas vertical wells and the combined production represents more than a 300% increase since EnDevCo acquired the property in 2006. The Company expects to have additional horizontal wells drilled in the Field by the end of 2008. "The current production at Short Junction has brought us to the point of consistent revenue generation, and it is our intention to continue to build production from our existing properties," stated Joe Lessard, EnDevCo's Chief Financial Officer. EnDevCo is currently in late stage negotiations with two financial institutions for a new larger credit facility, which will bring lower cost funding to the Company. "We are pleased with the way that our negotiations are going regarding the financing. Once the funding is closed, it will greatly enhance our ability to increase drilling activity and lower our cost of capital which in turn will significantly increase our revenue and cash flow," commented Mr. Dittmar. The financing will be used primarily to continue drilling on the Company's domestic properties and to advance development efforts in South America. Earlier this year, EnDevCo announced its working interest position in Peru's Block XXIV, thereby adding to its existing international activities. In March of this year, EnDevCo announced a 100 for 1 reverse stock split, which was the first step in reaching an important public company goal: listing on a primary national exchange. The Company's trading symbol was changed from ENDE to EDVC and it has since commenced an investor awareness program to gain exposure within the investment community. "We are moving forward with our plan to list on a primary exchange and our corporate restructuring activities over the last six months were designed to achieve that goal," said Mr. Dittmar. EnDevCo has made significant progress over the last year and is focused on executing its business plan and building value for its shareholders. "Everyone at EnDevCo is excited and confident in our ability as a company to expand our operations and grow to our full potential. We have made progress towards that goal and are looking forward to rewarding our shareholders in the coming years," Mr. Dittmar concluded. About EnDevCo, Inc. EnDevCo is a dynamic energy company rapidly establishing an identity consistent with its operating philosophy of "Science Before The Drill Bit." The Company has domestic and foreign oil and gas projects with current interests in Oklahoma, the Gulf of Mexico offshore Louisiana, Colombia and Peru. EnDevCo's largest domestic property, Short Junction Field, located in Oklahoma, currently has 24 oil wells and 2 gas wells. The Company recently completed drilling its first horizontal well, which has increased production in the Field by more than 300%. EnDevCo maintains offices in Houston and Dallas, Texas. For more information on EnDevCo, visit http://www.endevcoinc.com/. This press release includes certain "forward-looking statements". The forward-looking statements reflect the beliefs, expectations, objectives, and goals of EnDevCo, Inc. management with respect to future events and financial performance. They are based on assumptions and estimates, which are believed reasonable at the time such statements are made. However, actual results could differ materially from anticipated results. Important factors that may impact actual results include, but are not limited to commodity prices, political developments, legal decisions, market and economic conditions, industry competition, the weather, changes in financial markets and changing legislation and regulations. The forward-looking statements contained in this report are intended to qualify for the safe harbor provisions of Section 21E of the Securities and Exchange Act of 1934, as amended. DATASOURCE: EnDevCo, Inc. CONTACT: Investor Relations, Tom Cloutier of EnDevCo, Inc., ; or Media Relations, Amanda Thomas, +1-407-585-8850, , of Robust Media Group, LLC for EnDevCo, Inc. Web site: http://www.endevcoinc.com/

Copyright