Capital City Energy Group Continues Successful Participation in the Barnett Shale

COLUMBUS, Ohio--(BUSINESS WIRE)--Capital City Energy Group, Inc. (OTCBB: CETG - News) announced today that it has successfully participated in its fourth producing natural gas well drilled in the prolific Barnett Shale formation in central Texas. The horizontally drilled well located in Tarrant County was recently fracture stimulated and placed into production at an initial rate of 3.2 million cubic feet of natural gas per day. Capital City Energy Group has also participated in three additional horizontal wells located in Parker and Tarrant Counties, which have been successfully drilled and are awaiting fracture stimulation, after which they will be placed into production by the operator.

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“We are very pleased with the results of our latest drilling participation venture in the Barnett Shale, and we’re excited to have a foothold with a successful operator in the area,” said Capital City Energy Group CEO Timothy Crawford. “The success we have had in this area is consistent with the Company’s approach to participate in drilling ventures in areas with proven production that can generate significant cash flow for the Company. Given the robust environment for natural gas prices, our Company and its energy funds should benefit from production in this region for years to come.”

Located near Fort Worth, Texas, the Barnett Shale has become one of the premier natural gas producing formations in the United States, estimated to hold some 39 trillion cubic feet of natural gas reserves. Total daily production from the Barnett Shale formation is estimated to exceed 3.5 billion cubic feet.

About Capital City Energy Group, Inc.

Based in Columbus, Ohio, Capital City is a diversified oil and natural gas company with three separate divisions. Capital City is evolving from being an innovative leader in the design, management and sponsorship of retail and institutional direct participation energy programs to become one of the few vertically integrated independent oil & natural gas companies. Their strategy is to continue to grow a portfolio of core areas which provide growth opportunities through grass-roots drilling, operating, service companies, acquisitions and fund management.

"Investing in America's Energy Future"

Visit Capital City Energy Group at www.capcityenergy.com

Safe Harbor Statement

Investors and readers are cautioned that certain statements contained in this document, as well as some statements in periodic press releases and some oral statements of our officers and directors during presentations about our energy funds, along with Capital City Energy Group's filings with the Securities and Exchange Commission, including the Company's registration statements, quarterly reports on Form 10-Q and annual report on Form 10-KSB, are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward-looking statements include statements that are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "expects", "anticipates", "intends", "plans", "could", "might", "believes", "seeks", "estimates" or similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future actions, which may be provided by the Company's management, are also forward-looking statements as defined by the Act. Forward-looking statements are based on current expectations and projections about future events and are subject to various risks, uncertainties and assumptions about Capital City Energy Group, its technology, economic and market factors and the industries in which the Company does business, among other things. These statements are not guarantees of future performance and Capital City Energy Group, Inc. undertakes no specific obligation or intention to update these statements after the date of this release


Contact:

CEOcast, Inc. for Capital City Energy Group, Inc.
Daniel Schustack, 212-732-4300

Leading Botswana Energy Exploration Company Selects Capital City Energy Subsidiary to Provide Engineers

COLUMBUS, Ohio--(BUSINESS WIRE)--Capital City Energy Group, Inc. (OTCBB: CETG - News) (“Capital City”) announced today that Saber Exploration Pty Limited (“Saber”), a leading Botswana-based exploration and development company, has selected Eastern Well Services, LLC (“Eastern”) to provide engineers for Saber’s project in Botswana, Africa. Eastern Well Services is a wholly owned subsidiary of Capital City.
Eastern will support Saber’s exploration and development activities surrounding coal bed methane prospects in the country, and will provide other support services such as onsite supervision of drilling operations, assistance with surface hole selection, engineering services and other customary support services.
“We are pleased to have been selected for these high-profile exploration and development activities in Botswana,” said Daniel Coffee, Chief Operating Officer of Capital City. “Eastern is quickly developing a reputation for helping emerging energy companies, and we look forward to deploying our team of engineers to the project. With energy prices near record levels, companies both domestically and internationally continue to look for new exploration venues to capitalize on rising demand, making us the ideal partner.”
Eastern is Capital City’s oilfield services company which plans to operate in many of the significant oil and natural gas producing regions of the United States, providing oil and natural gas companies with wireline, fracturing, logging and testing services. We plan to compete with our larger peers by offering technologically advanced equipment and services at competitive prices and highly responsive customer service.
Capital City recently went public through the merger with a publicly traded company. For the fiscal year ended 2007, Capital City had revenue of approximately $2.9 million, and EBITDA, a non-GAAP measure, of $1.9 million.
About Capital City Energy Group, Inc.
Based in Columbus, Ohio, Capital City is a diversified oil and natural gas company with three separate divisions. Capital City is evolving from being an innovative leader in the design, management and sponsorship of retail and institutional direct participation energy programs to become one of the few vertically integrated independent oil & natural gas companies. Their strategy is to continue to grow a portfolio of core areas which provide growth opportunities through grass-roots drilling, operating, service companies, acquisitions and fund management.
"Investing in America's Energy Future"
Visit Capital City Energy Group at www.capcityenergy.com

Safe Harbor Statement
Investors and readers are cautioned that certain statements contained in this document, as well as some statements in periodic press releases and some oral statements of our officers and directors during presentations about our energy funds, along with Capital City Energy Group's filings with the Securities and Exchange Commission, including the Company's registration statements, quarterly reports on Form 10-Q and annual report on Form 10-KSB, are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward-looking statements include statements that are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "expects", "anticipates", "intends", "plans", "could", "might", "believes", "seeks", "estimates" or similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future actions, which may be provided by the Company's management, are also forward-looking statements as defined by the Act. Forward-looking statements are based on current expectations and projections about future events and are subject to various risks, uncertainties and assumptions about Capital City Energy Group, its technology, economic and market factors and the industries in which the Company does business, among other things. These statements are not guarantees of future performance and Capital City Energy Group, Inc. undertakes no specific obligation or intention to update these statements after the date of this release

Contact:
CEOcast, Inc. for Capital City Energy Group, Inc.
Daniel Schustack, 212-732-4300

Capital City Energy Group Secures $75 Million Credit Facility to Support Growth

COLUMBUS, Ohio--(BUSINESS WIRE)--Capital City Energy Group, Inc. (OTCBB: CETG) or “Capital City” announced today that it has secured a $75 million revolving line of credit from FirstMerit Bank. Under the facility the Bank, which has served northeastern Ohio and Western Pennsylvania for more than 160 years, will provide the Company funding to support acquisitions and working capital for its energy projects. Capital City, which began making principal investments in 2003 in energy properties alongside the energy funds it managed, has commenced an aggressive acquisition and drilling program to become one of the few vertically integrated independent oil & natural gas companies.

“We are pleased to secure this credit facility that will provide us with the financial flexibility to expand on our existing portfolio of energy properties and to begin to actively drill many of our promising prospects,” said Timothy W. Crawford, Capital City’s Chief Executive Officer. “The Company has a strong management team, extensive experience in the energy business through years of successfully managing energy funds and proven capabilities in servicing other exploration and development companies to position itself for rapid growth through development of its own properties and acquisition of new locations.”

About Capital City Energy Group, Inc.
Based in Columbus, Ohio, Capital City is a diversified oil and natural gas company with three separate divisions. Capital City is evolving from being an innovative leader in the design, management and sponsorship of retail and institutional direct participation energy programs to become one of the few vertically integrated independent oil & natural gas companies. Their strategy is to continue to grow a portfolio of core areas which provide growth opportunities through grass-roots drilling, operating, service companies, acquisitions and fund management.

"Investing in America's Energy Future"
Visit Capital City Energy Group at
www.capcityenergy.com

Company information distributed through the Market Access Program is based upon information that Standard & Poor’s considers to be reliable, but neither Standard & Poor’s nor its affiliates warrant its completeness or accuracy, and it should not be relied upon as such. This material is not intended as an offer or solicitation for the purchase or sale of any security or other financial instrument.

Oil & Gas Investment Opprotunity in Expanding Energy Market Sector

With the economy in a slump, it is time to hedge your portfolio with an increasing commodity.

Capital City Energy Group invests in oil and gas by acquiring interests in producing oil and gas wells through active partnerships with qualified and successful oil and gas operators. We also acquire interests in exploration and development wells to be drilled, along with royalty acreage, mineral rights, and pipeline transportation agreements.
Capital City Energy Group’s operations are comprised of three distinct divisions referred to as the “Triad.” The Triad consists of:

Fund Management Division
The purpose is to structure, fund and manage energy assets for retail and institutional investors. The company partners with successful oil and gas companies that have established operating histories, but may require additional capital to develop and exploit their potential assets.
Principal Investments Division
The Company deploys its own capital through Principal Investments in energy assets which have a greater long term potential for higher returns, and which may not be contemplated or be appropriate for the income oriented fund management business.

Strategic Acquisition Division
The acquisition of operating companies is considered strategic to our core fund management and principal investment divisions. We intend to acquire and/or partner with companies such as drillers, operators, pipelines, and lease owners among others. This strategy allows the Company to become more opportunistic and achieve greater control over its investments through vertical integration.

Utilizing the Triad model will allow Capital City Energy Group to significantly accelerate its development, be more diversified in its business activities, and have greater access to the capital markets in order to implement its long term growth plan of becoming a fully integrated energy company.

Capital City Energy Group, Inc.
8351 North High Street
Suite 101
Columbus, Ohio 43235
(614) 310-1614 Local
(877) 310-1614 Toll free
WWW.CAPCITYENERGY.COM