Adventure Energy, Inc

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St. Petersburg, Florida-based Adventure Energy, Inc (OTCBB: ADVE) has a leasehold of 1,500 acres in Morgan County, Kentucky. It is focusing there on shallow Upper Devonian Shale drilling to approximately 2,800 feet. The company is expanding into Wayne County, West Virginia, and acquired a 115 acre lease there in December, 2008. The company has expertise in horizontal drilling, and hopes to put it to good use as it acquires Marcellus acreage.

An April, 2009 report indicated that the company had increased its leasehold in 2009 from 1700 acres to 3000 acres in Kentucky and West Virginia. It also announced that it had recently acquired a 40% working interest in the Larry Hardin #1 well located in Monroe County, Kentucky and drilling had commenced on it April 20. The drilling will target the Knox Group at 600-800 ft.

It owns a pipeline gathering system for its four gas wells in Morgan County, Kentucky. The wells are known collectively as the West Liberty Quad Drilling Program, and the company continues to develop its program there and acquire adjacent leaseholds. In 2008 it acquired the Troy Ison #1 well located in the White Oak Quad of Morgan County. This well was drilled down to the Coniferous formation in 2002. Also, the company plans to rework the TI #1 well and tie it into its Morgan County gathering system.

Adventure also own a 200 acre lease in Metcalf County, Kentucky and has initiated a 5 well drilling program there with a planned completion in May, 2009. The wells will be drilled to a depth of 800-1200 ft. Rebell Oil is the driller. Drilling will be completed between April and May, 2009. The first well in the program is the J.L. Blaydes Well #1.

Wayne Anderson is Adventure’s President.

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