HMGP Hemi Energy Group Inc (GM)

Hemi Energy Group, Inc. (Pink Sheets: HMGP) today announced that XTO Energy (NYSE: XTO) recently commenced drilling a multi-well Barnett Shale project encompassing two of the Company Sycamore Heights oil and gas leases. Chesapeake Operating has filed for drilling permits with the Texas Rail Road Commission to drill a multi-well Barnett Shale project encompassing our Exchange Avenue and NW 23rd Street oil and gas leases. Rather than direct sale of these holdings, Hemi chose to allow these lease holding to become part of a larger "pooled" master lease(s), in a passive non operated royalty position in these Barnett Shale projects. The Company expects to see additional activity in it�s remaining Barnett Shale holdings in the near term. These leases will in turn become passive non operated royalty positions. President Keith A. Anderson: "Urban drilling has slowed in Fort Worth and Tarrant County due in part to the down turn in the oil and natural gas prices. As drilling has slowed, so has much competitive leasing programs. We are taking advantage of this slow down, by selectively acquiring and growing our Royalty portfolio of 'Tarrant County leases' in areas we feel has the highest probability of successful Barnett Shale drilling potential." Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, risk factors inherent in doing business. Forward-looking statements may be identified by terms such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "forecasts," "potential," or "continue," or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. The Company has no obligation to update these forward-looking statements. For additional information please go to http://hemienergy.com.