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ISIN: US3157461076 | WKN: A0B9Q9 | Symbol: FDEI
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Article for Fidelis Energy Inc (OTC BB:FDEI) 9:04 AM

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Fidelis Energy Updates Gas Discovery at North Franklin Project
TUESDAY, MAY 25, 2004 9:04 AM
- Market Wire

TUCSON, AZ, May. 25, 2004 (MARKET WIRE via COMTEX) -- Fidelis Energy, Inc. (FDEI) , an oil and gas company dedicated to developing North America`s energy resources, today announces further details of the new gas discovery made at the "Archer-Whitney #1" well at the North Franklin Project. The announcement was made today by Frank Anjakos, CEO of Fidelis Energy.

Archer Exploration, Inc. of Bakersfield, the author of the gas play is currently calculating gas volumetrics and potential reserves with new data provided from the well. Resistivity and Sonic logs showed clean sand pay with 100% gas fill-up within the pay zone. The operator of the North Franklin Project, Longbow LLC is currently contacting gas purchasers and pipeline companies to determine the cost of tie-in of the well.

Fidelis and Longbow LLC will announce initial production rates, gas quality and details of the upcoming flow testing. It is estimated that the completion phase of the well that includes perforation and flow testing will occur over the next 2 weeks.

The North Franklin Project is located in the Sacramento Basin of California and is situated along the "Eastside Winters Stratigraphic Trend" which has produced in excess of 450 Bcf gas. The objective gas reservoir target at North Franklin is in the Winters Formation. Fidelis has a 35% interest in the play.


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.


Fidelis Energy Inc.

Frank Anjakos-President

For more information, please visit our website at www.FidelisEnergy.com, or contact:

Investor Relations 1-800-313-7912

Media Contact:
Mike Garfinkel
Director of Public Relations
BZCOM Public Relations
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Das wird ein sehr guter Tag für Fidelis!


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