Bedford Energy Closes the Sale of Its Grace Field Assets

• Press Release
• Source: Bedford Energy, Inc.
• On 9:44 am EST, Wednesday December 31, 2008

OKLAHOMA CITY, OK--(MARKET WIRE)--Dec 31, 2008 -- Bedford Energy, Inc. (Other OTC:BFDE.PK - News) announces today that the company closed the sale of its Grace Field assets located in East Chandler, Oklahoma to Avalon Oil and Gas. Avalon Oil and Gas will take over operations effective January 1st, 2009.

Related Quotes

Symbol	Price	Change
BFDE.PK	0.01	0.00

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For more detailed information on Bedford Energy please contact BFDE@bedfordenergyinc.com or visit www.bedfordenergyinc.com.

About Bedford Energy, Inc.

Bedford Energy, Inc. is a public company, trading under the symbol BFDE that is engaged in the exploration, development and exploitation of natural gas and oil properties in the mid-continent and gulf areas of the United States. Bedford strives to enhance investor value by expanding oil and natural gas reserves raising production levels and increasing cash flow. As always, Bedford intends to increase shareholder value through developmental drilling in proven producing areas.

SEC DISCLAIMER

Information contained herein may contain forward-looking statements which are not guarantees of future success or that there cannot be losses. The actual presence or recoverability of reserves for optimal and timely recovery, well costs or schedules or other matters cannot be promised. This release contains "Safe Harbor" provisions of the US Private Securities Litigation Reform Act of 1995 & involves risks and uncertainties, which could cause actual results to differ materially from those estimated herein.

Bedford believes the forward-looking statements are based on current reasonable assumptions but can give no assurance that results will be achieved. Unpredictable & unanticipated risks, trends and uncertainties including inability to accurately forecast operating results; the potential inability to achieve profits or have cash flow; access to financing; and other must be understood. Bedford assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.

     Contact:
     Bedford Energy, Inc.
     531 N Portland Avenue
     Oklahoma City, OK 73107
     Office: (405) 601-9745
     http://www.bedfordenergyinc.com