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Bought 76-acre lease in KS with up to 40 wells, 48 BO/d IP.

Freedom Financial Holdings Inc., Fort Wayne, Ind., (Pink Sheets: FDMF) has acquired an additional 76-acre lease in southeastern Kansas from an undisclosed seller for an undisclosed price. The field has approximately 35 to 40 drilled wells, and operators working on the wells are utilizing a generator and six-barrel test tanks to get the initial wells ready for full-time operation. Initial production from two wells in the middle of the developed field was approximately 48 barrels of oil per day. Freedom Financial chief executive Brian Kistler says, "There will soon be a total of eight wells ready to pump. After getting the initial six wells on the pump, efforts were dedicated to the two that were pumping the best. While we cannot predict that every well has the potential of pumping 40 barrels per day, we are very encouraged after the first two weeks."