Capital City Energy Group Inc. (OTCBB: CETG) announced today that it has expanded its reserve base yet through the strategic acquisition of interests in thirty-eight (38) oil and natural gas wells located in four different Basins in the continental United States that have generated significant amounts of oil and natural gas production. Capital City purchased the interests in the wells for $1,722,086, which are operated by numerous producers. Nine of the wells are located in the Gulf Coast Basin, one well is located in the Permian Basin, seven wells are located in the prolific Barnett Shale in the Ft. Worth Basin, and twenty-one wells are located in the Appalachian Basin.

“Our acquisition of interests in these 4 basins, shortly after acquiring interests in 31 oil and natural gas basins, reflects the execution of our strategic plan to develop a diversified portfolio of low-risk oil and natural gas properties. We will continue to seek investment opportunities that represent attractive ways to generate cash flow for our shareholders and will continue to aggressively purchase interests in oil and natural gas wells while the commodity prices remain low,” said Timothy Crawford, CEO of Capital City Energy Group.

Earlier this week, the Company announced that it had acquired interests in thirty-one (31) oil and natural gas wells located in five different Basins in the continental United States that have generated significant amounts of oil and gas production. Capital City purchased the interests in the thirty-one wells for $1,466,988, which are operated by numerous producers. Eighteen of the wells are located in the Gulf Coast Basin, six wells are located in the Denver-Julesberg Basin, three wells are located in the prolific Barnett Shale in the Ft. Worth Basin, three wells are located in the Arkoma Basin and one well is located in the Appalachian Basin.

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.