Next Generation Energy Corp. Acquires Additional Royalty Interest in Louisiana Natural Gas Well

LORTON, Va., June 24, 2011 /PRNewswire/ -- NEXT GENERATION ENERGY CORP (OTCQB : NGMC)  said today it has acquired an additional Mineral Royalty Interest in a producing, prolific natural gas well in the well known Hainesville Shale formation in Louisiana producing over 230,000 Mcf per month. "We are right on track with our aggressive growth strategy by increasing our portfolio of natural gas and oil royalty revenues," said Darryl Reed, CEO.

Mr. Reed  stated that "we completed this transaction, that doubles our interest in the royalty revenues from this property, because of the potential upside in this approximately 600 acre Unit."  He described "the potential of 6 to 7 additional wells that can be drilled in the Unit with estimated reserves of 40-56 Billion cubic feet of natural gas."

The current well in this Unit is being operated by Chesapeake Operating a unit of Chesapeake Energy (NYSE: CHK), the second-largest producer of natural gas, a Top 15 producer of oil and natural gas liquids, and the most active driller of new wells in the U.S. Mr. Reed added that "since the existing well on the property is new as of January 2011 its asset life producing natural gas may be decades long and any upward move in wellhead prices could represent yet another upside potential for this acquisition."

NGMC is focused on aggressively growing its existing portfolio of developed, valuable natural resource royalty producing properties, including natural gas, oil and coal, with a primary focus on natural gas. The Company's strategy is to acquire properties that are undervalued or under-utilized and are currently producing energy commodities. Once acquired, NGMC outsources all expansion exploration, upgrades, drilling and mining operations through leases with well known, environmentally-conscious operators. Royalty cash produced from the properties is reinvested back into NGMC to acquire additional properties in order to maximize shareholder returns.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This press release contains or may contain forward-looking statements such as statements regarding the Company's growth and profitability, growth strategy, liquidity and access to public markets, and trends in the industry in which the Company operates. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update these forward-looking statements to reflect actual results, changes in risks, uncertainties or assumptions underlying or affecting such statements, or for prospective events that may have a retroactive effect.

Darryl Reed
CEO
703-372-1282
[email protected]

Paul Knopick
E & E Communications
949.707.5365
[email protected]

SOURCE Next Generation Energy Corp.