HMGP Hemi Energy Group Inc (GM)

Keith Anderson, CEO and President of Hemi Energy Group, Inc. (Pink Sheets: HMGP), and Craig Treiber, Vice President, on the three-day inspection trip started Oct. 26, completed a detailed valuation for the reconditioned and rebuilt equipment at the wells located on over 3 square miles of leases in eastern Kansas. There are 16 100 bbl oil tanks, eight 220 bbl water tanks and eight gun barrel water/oil separation vessels for a total of 32 tanks spaced over the five leases described above. There are 65 pump jacks on which the re-building has been completed, and an additional 39 pump jacks that are at various stages of re-building. There are 100 down-hole pumps used in the production of oil. There are also three saltwater stainless steel water injection pumps that are in use on our two water injection wells. The total value for the above-described equipment is $324,000, based on a survey of current fair market values from re-built oilfield equipment dealers and end users in Kansas. Anderson stated, "The stock price is currently valued well below the cost of leases owned in four states, and the re-built equipment on the five Kansas leases in Woodson County, Kansas, as detailed in this press release. Stock price also does not reflect the true production value of the oil reserves yet to be produced from the over 100 old oil wells presently owned by Hemi, several of which having been completely re-worked and currently producing oil in Woodson County, Kansas." Detailed information, as completed, will be released in November about wells on another lease in Kansas and leases in four other states that are already owned by Hemi Energy Group, Inc. About Hemi Hemi Energy Group is an independent crude oil and natural gas producer employing a unique business model capitalizing on technological advances to exploit mature fields with millions of barrels of proven oil remaining in the ground. Using attractive lease/royalty packages, Hemi has secured, in its history, tens of thousands of acres of productive domestic projects. The company's forward-thinking strategy has placed it in an enviable position at a time when prices and global demand for oil continue to rise. Building on decades of experience in enhanced oil recovery, Hemi has successfully amassed a substantial and attractive portfolio of these high-quality domestic properties. By streamlining operations through cutting-edge technologies, Hemi has the ability to operate more effectively and efficiently than larger oil companies. For additional information, please go to www.hemienergy.com or http://www.stockinformationsystems.com/c/HMGP/index.html. "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995 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. Keith Anderson, CEO and President of Hemi Energy Group, Inc. (Pink Sheets: HMGP), and Craig Treiber, Vice President, on the three-day inspection trip started Oct. 26, completed a detailed valuation for the reconditioned and rebuilt equipment at the wells located on over 3 square miles of leases in eastern Kansas. There are 16 100 bbl oil tanks, eight 220 bbl water tanks and eight gun barrel water/oil separation vessels for a total of 32 tanks spaced over the five leases described above. There are 65 pump jacks on which the re-building has been completed, and an additional 39 pump jacks that are at various stages of re-building. There are 100 down-hole pumps used in the production of oil. There are also three saltwater stainless steel water injection pumps that are in use on our two water injection wells. The total value for the above-described equipment is $324,000, based on a survey of current fair market values from re-built oilfield equipment dealers and end users in Kansas. Anderson stated, "The stock price is currently valued well below the cost of leases owned in four states, and the re-built equipment on the five Kansas leases in Woodson County, Kansas, as detailed in this press release. Stock price also does not reflect the true production value of the oil reserves yet to be produced from the over 100 old oil wells presently owned by Hemi, several of which having been completely re-worked and currently producing oil in Woodson County, Kansas." Detailed information, as completed, will be released in November about wells on another lease in Kansas and leases in four other states that are already owned by Hemi Energy Group, Inc. About Hemi Hemi Energy Group is an independent crude oil and natural gas producer employing a unique business model capitalizing on technological advances to exploit mature fields with millions of barrels of proven oil remaining in the ground. Using attractive lease/royalty packages, Hemi has secured, in its history, tens of thousands of acres of productive domestic projects. The company's forward-thinking strategy has placed it in an enviable position at a time when prices and global demand for oil continue to rise. Building on decades of experience in enhanced oil recovery, Hemi has successfully amassed a substantial and attractive portfolio of these high-quality domestic properties. By streamlining operations through cutting-edge technologies, Hemi has the ability to operate more effectively and efficiently than larger oil companies. For additional information, please go to www.hemienergy.com or http://www.stockinformationsystems.com/c/HMGP/index.html. "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995 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.