HMGP Hemi Energy Group Inc (GM)

Hemi Energy Group, Inc. (Pink sheets: HMGP) is pleased to announce it has entered into definitive divestiture agreement with a private equity group, regarding the company's Immigrant Gap lease acreage, located in Natrona County Wyoming. This transaction is scheduled to close on or before October 15, 2008. President and CEO Keith A. Anderson issued this statement "The divestiture of the Immigrant Gap property will allow the company to fund and execute a multi well Horizontal drilling program on our Woodson County KS properties. The company has determined thought extensive evaluation of current vertical well performance and review of geological reports that a horizontal drilling program should yield better results when compared to conventional drilling techniques. To the best of my knowledge horizontal drilling has not been utilized in the Humboldt Chanute oil field. Horizontal Drilling has been instrumental in unlocking reserves, once thought impractical, for instance The Bakken field in North Dakota, the Barnett and Fayetteville Shale�s in Texas and Arkansas and the Austin Chalk in South Texas. We know we have a large reservoir of petroleum in place covering our Woodson County leases, we are optimistic directional drilling will yield exceptional results of these proved reserves. We will be employing the first available Texas or Oklahoma based drilling company to conduct this project and we anticipate spudding the well in the next 30 to 90 days." 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.