Eternal Energy Corp. Announces Corporate Update

LITTLETON, Colo., Feb. 9, 2011 /PRNewswire/ -- Eternal Energy Corp. (OTC Bulletin Board: EERG; "Eternal", or the "Company") is pleased to announce the following updates:

Hardy 7-9 Well:

The Hardy 7-9 Well, in which the Company owns a 50% working interest, went off production in early January 2011 due a parted rod string.  Prior to the mechanical issue, the well's production had increased to approximately 58 barrels of oil per day from the 40 barrels that was announced in September, when the well was recompleted and returned to production.  Due to the high completion activity level in Saskatchewan, the Company has been waiting for a rig to become available to replace the rod string.  The Company expects a rig to arrive by the end of the week.

Additional Well Activity:

Considerable drilling activity targeting the Bakken and Three Forks Formations in Divide County, North Dakota, began on the Company's Pebble Beach acreage during the last quarter of 2010.  As of the date of this release, the Company has elected to participate in the following wells located in the area:  

The Aarestad, Nielsen and Wolter wells have been drilled and fracture stimulated.  As of the date of this release, stabilized production results are not yet available for these three wells.  All of the other wells are either currently drilling or waiting to be drilled.  The Crescent Point CPEC 26 well will be drilled as a 1 mile horizontal well and the Reistad well will be drilled as a vertical well.  All of the other wells are expected to be 2 mile horizontal wells.  

About Eternal Energy Corp.:

Eternal Energy Corp. is an oil and gas company engaged in the exploration of petroleum and natural gas.  The company was incorporated in Nevada on July 25, 2003 to engage in the acquisition, exploration, and development of natural resource properties.

The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements.  Certain information included in this press release contains statements that are forward-looking, such as statements relating to the future anticipated direction of the industry, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales growth, potential contracts, and/or aspects of litigation.  Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future, and, accordingly, such results may differ from those expressed in any forward-looking statements made by, or on behalf of, Eternal Energy Corp.  These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, and domestic and global economic conditions.  The company assumes no obligation to update any of these forward-looking statements.

SOURCE Eternal Energy Corp.

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