1st NRG Corp Purchases Producing Wells and Reserves

1st NRG Corp (OTC: FNRC) reports the purchase of coal bed methane assets in the Powder River Basin for $2.7 million, financed by the seller plus 266,887 shares of 1st NRG common stock. The effective date is August 1, 2010. The Powder River Basin in northeast Wyoming is a major supplier of coal bed methane – clean natural gas.

The acquisition of working interests in producing and prospective CBM wells is a development on 6,480 gross acres. The Company estimates reserves of 5.3 BCF (3P) - 2.0 BCF of which are proven. The field currently produces from 31 wells, where there are also 6 more wells dewatering, 5 wells recently drilled awaiting connection to the local infrastructure and permits to drill 25 additional wells.

“We made this acquisition because of the significant upside potential of the leasehold. We estimate the permitted locations hold reserves of 4 BCF (3P) net to the Company. The existing wells produce revenue to the Company, and the permitted locations provide near term – low cost growth,” said CEO Kevin Norris. Adding, “CBM is economical at current prices because of the low cost of entry and development.”

About 1st NRG

1st NRG is a natural gas/oil exploration and production company headquartered in Ferndale, Washington. The focus of the Company is to acquire producing oil and gas assets with emphasis on coal bed methane

See the company website for updates at www.1stNRG.com.

Forward Looking Statement

This press release does not constitute an offer of any securities for sale and it contains forward-looking statements which involve certain risks & uncertainties that could cause actual results to differ, including, without limitation, the company’s limited operating history & history of losses, the inability to successfully obtain further funding, the inability to raise capital on terms acceptable to the company, the inability to compete effectively in the marketplace, the inability to complete the proposed acquisition and such other risks that could cause the actual results to differ materially from those contained in the company’s projections or forward-looking statements. All statements in this press release are based on information available to the company as of the date hereof. The company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.

First NRG (CE) (USOTC:FNRC)
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