Hemi Sells Off Wyoming Lease Acreage

Hemi Energy Group 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."
 

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