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Hull Energy Signs Letter of Intent With Home Creek Energy

Posted on: Tuesday, 8 July 2008, 00:00 CDT

AVENTURA, Fla., July 8 /PRNewswire-FirstCall/ -- Hull Energy, Inc. (Pink Sheets: HULL), an Oil and Gas exploration company announced today that they have executed a letter of intent to acquire 40% of Home Creek Energy's Senn Ranch Development Joint Venture. The Joint Venture was formed in order to complete and bring online two shut in wells on the Senn Lease located in Kent County, Texas.

Hull estimates the time to bring both wells online will take approximately 60 days and will require a small capital infusion to be determined and set forth in the definitive agreement. Once operational, oil production is expected to range from eight to sixteen barrels per day. Additionally, Hull Energy, subject to the execution of the definitive agreement, will have a right of first refusal on the remaining twelve drilling locations available on the six hundred forty acre Senn Lease. Ron Ratner, CEO of Hull Energy, Inc. stated, "This transaction is another example of our strategy to acquire working wells and we are very excited to be working with our new partners.""With the rising price per barrel of oil and the help of Hull Energy as our joint venture partner we can now explore bringing this property to its full potential," said Anthony Maye, Managing Director of Home Creek Energy, LLC.

About the Senn Lease

The Senn Lease is six hundred forty acres located in Salt Creek Field in Kent County, Texas. Currently operated by Home Creek Energy, the Senn Lease in the past has produced over 128,251 barrels from just three wells.

About the Salt Creek Field

Since its initial discovery, Salt Creek Field has employed consistent reservoir surveillance and development programs. Soon after the field discovery, gas cap and water injection programs began to maintain reservoir pressure which optimized recovery.

About Hull Energy, Inc.

Hull Energy is an Oil and Gas company involved in the exploration and joint ventures of oil and gas on existing leases or properties, showing proven reserves. Of these properties, most according to our engineers have the potential to produce oil and gas. Once these properties or leases are identified via the expertise of our joint venture partners, Hull Energy intends to hire a small staff of people to be involved in the operations on a day-to-day basis working side by side with our joint venture partners. For more information go to our web site http://www.hullenergyinc.com/.

This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include failure to complete successfully the development of new or enhanced products, the successful implementation of acquisition program, the Company's future capital needs, the success of competitive products, fluctuations in costs, changes in consumer preferences and other items described in the Company's Securities and Exchange Commission filings. The Company undertakes no obligation to update any statements in this press release.

Company Contact: Ron Ratner 786-787-0441 Investor Relations contact: Kulman IR, LLC 305-749-3112 info@KulmanIR.com

Hull Energy, Inc.

CONTACT: Ron Ratner of Hull Energy, Inc., +1-786-787-0441, or KulmanIR, LLC, Investor Relations, +1-305-749-3112, or info@KulmanIR.com

Web site: http://www.hullenergyinc.com/

Source: PRNewswire-FirstCall

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