Cambridge Energy Completes Rework Project On Natural Gas Well.

Business Editors

COCOA, Fla.--(BUSINESS WIRE)--Aug. 14, 2000

Cambridge Energy Corporation (OTCBB:CNGG), an oil & gas exploration and production company with producing properties in Louisiana and Indonesia, announced that it has successfully reworked a 12,500 foot natural gas well on its Houma, Louisiana property, using funds from its recent financing activities.

Perry West, Chairman and CEO of Cambridge Energy, stated, "We are pleased that we have been able to direct some of the capital that we raised in our recent financing activities to complete a recompletion of this well. With the rework complete, we will be able to achieve significantly higher production levels, allowing us to capitalize on the ongoing strength in the market for natural gas."

West added, "We will continue to deploy our capital on projects that will allow us to realize increased oil and gas production levels, driving both revenues and profitability for the Company."

Further information can be found at the company's Web site: http://www.cambridgeenergy.com.

This press release includes forward-looking statements that are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Acts of 1995. While these statements are made to convey to the public the Company's progress, business opportunities, and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. Whereas management believes such representations to be true and accurate based on information and data available to the Company at this time, actual results may differ materially from those described. The Company's operations and business prospects are always subject to risk and uncertainties. Important factors that may cause actual results to differ are set forth in the Company's periodic filings with the U.S. Securities and Exchange Commission.