BEEi Bald Eagle Energy Announces Completion of Acquisition for 6 Leases in Alaska's North Slope Region

Bald Eagle Energy Inc. (OTCBB:BEEI social networks) (“Bald Eagle”) is pleased to announce that it recently acquired the exclusive right to drill for and produce oil and natural gas under six (6) separate leases in Alaska's North Slope. The acquired leases, which were transferred to Bald Eagle in the fourth quarter of 2008, include a 100% working interest with a net revenue interest of 78.33%. The parcels of land subject to the leases total 18,418 acres, and each lease has an initial expiration date of January 31, 2012, subject to extensions for production.

Andrew Harper, Bald Eagle's Chief Executive Officer, states: “We are excited about the oil and gas exploration potential of these leases, which from a geological perspective are in a very favorable location. We see viable potential in this region for future development and the location of the leases (very close to the Trans Alaska Pipeline and the Dalton Highway) will help to lower operational costs and in effect lower the minimum field size required for commercial development relative to other parts of the North Slope.”

To avoid unnecessary expenditures, as it moves forward with its Alaskan operations, Bald Eagle decided to let its previously held interests in its Cheryl Comego mineral claims located in the Province of British Columbia, Canada lapse in April 2008, under the terms of the mineral leases. The 'Comego Property' was held by Bald Eagle's wholly-owned subsidiary, CMBS Explorations Inc., but after the claims lapsed, Bald Eagle no longer has interests in British Columbia.

Harper adds: “We now can officially state that we have initiated a new focus on Alaska for the company. We have centralized our interests in the North Slope region with the belief that helping to develop energy solutions for America will benefit both consumers and our shareholders. The completion of this acquisition signifies another step towards Bald Eagle doing its part to aid in the goal of American energy independence.”

Shareholders and interested parties are invited to visit the company’s website at www.baldeagleoil.com or contact corporate communications toll free at (888) 254-2262 for further information.

About Bald Eagle Energy Inc.

Bald Eagle Energy Inc. was formed in response to America's oil crisis with the purpose of working toward American energy independence.

As a publicly traded Oil and Gas exploration company (OTCBB: BEEI) based in The Woodlands, Texas, Bald Eagle is also focused on building company and shareholder value with an eye on long-term growth.

Our business model stresses reduced capital expenditures through a minimized team of experienced management, retaining the consulting services of industry experts only when needed, and utilizing third party drilling companies to limit equipment and operating expenses. The company will continue to rely on outside financing as it begins the process of oil and gas exploration activities on its North Slope properties.

At Bald Eagle, we maintain that America can do better than producing 5.1 million barrels of oil per day (MMBOPD) while consuming 20.7 MMBOPD for a daily petroleum shortfall of 15.6 million barrels. That is why we are committed to decreasing our nation's petroleum shortfall – and dependence on foreign oil – through the vast energy resources found in Alaska.

Forward-Looking Statements

Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management, including, but not limited to, Bald Eagle's belief that we can increase Bald Eagle's assets and increase shareholder value by focusing on oil and gas exploration. It is important to note that actual outcomes and Bald Eagle's actual results could differ materially from those in such forward-looking statements. Some of the factors that could cause actual results to differ materially include the uncertainty of the requirements demanded by environmental agencies, Bald Eagle's ability to raise financing for operations, breach by parties with whom we have contracted, our inability to maintain qualified employees or consultants, competition for equipment, our inability to obtain or maintain necessary drilling permits, unforeseen delays or obstacles that negatively impact our drilling operations or our ability to interpret data, and the likelihood that no commercial quantities of oil or gas are found or recoverable. Additional information on risks for Bald Eagle can be found in our most recent periodic reports filed with the Securities and Exchange Commission.

Bald Eagle Energy Inc.
Investor Relations, 1-888-254-2262
or
Andrew Harper, 1-888-254-2262
Chief Executive Officer
ir@baldeagleoil.com
www.baldeagleoil.com

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