CARSON CITY, NV–(Marketwire – March 9, 2010) – Friendly Energy Exploration (PINKSHEETS: FEGR) is pleased to announce that the company has created a wholly owned subsidiary called Friendly Energy Drilling Inc., a Nevada corporation. The company will be the operational/production subsidiary of the parent company. The company has already entered into a dry lease for a pulling rig and a work over rig. Doug Tallant, CEO of Friendly stated: “The decision to get our own equipment was simple economics. We are putting up to 60 wells into production over the next year and by doing the work ourselves with our own crew, we will save up to 50% of the costs of contracting it out and will be able to accelerate the rate at which we put our inventory of wells back into production.” The company will immediately mobilize the work over rig to its Byler lease to prepare its eleven wells for immediate production.
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