HMGP Hemi Energy Group Inc (GM)

Hemi Energy Group, Inc. (Pink Sheets: HMGP) today announced that on October 15, 2008 it completed the previously announced sale of its Wyoming leases. Net proceeds to Hemi, after expenses and other customary adjustments, were $475,000. Net proceeds will be used to continue developmental drilling programs in Woodson County, Kansas. Keith A. Anderson, Hemi's President and CEO, stated: �Hemi is continuing to liquidate our non core lease acreage, in order to strengthen our cash reserves, remain a debt free operating company while focusing our energy and capital on developmental activities with our core leases in Woodson County, Kansas." 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.