Energas Raises $300,000 Cash and Removes $326,000 Debt.

OKLAHOMA CITY -- Energas Resources, Inc. (OTCBB:EGSRE) announces the close of a private placement. A total of $300,000.00 was raised in exchange for 1,200,000 shares of Rule 144 restricted stock. These funds have been designated for general working capital use.

Additionally, president George Shaw agreed to take 1,304,000 shares of Rule 144 restricted stock for $326,000.00 of debt, which will remove this debt to equity on the company's books.

Further announcements will be forthcoming.

Safe Harbor Statement

When used in this press release, the words "intends," "believes," "anticipated," "expects" and similar expressions are intended to identify forward-looking statements. Such statements are subject to risks and uncertainties which could cause actual results to differ materially from those projected. Factors that could cause or contribute to such differences include normal risks associated with oil and gas drilling activities. The primary risk lies in the drilling of dry holes or drilling and completing wells which, though productive, do not produce gas and/or oil in sufficient amounts to return the amounts expended and produce a profit. Hazards, such as unusual or unexpected formation pressures, downhole fires, blowouts, loss of circulation of drilling fluids and other conditions are involved in drilling and completing oil and gas wells and, if such hazards are encountered, completion of any well may be substantially delayed or prevented. In addition, adverse weather conditions can hinder or delay operations, as can shortages of equipment and materials or unavailability of drilling, completion, and/or work-over rigs. Even though a well is completed and is found to be productive, water and/or other substances may be encountered in the well, which may impair or prevent production or marketing of oil or gas from the well.