2011-03-09-2011-03-02-2011-03-02

To acquire approximately 400 acres in Caldwell and Travis counties, which features one plugged well.

Houston-based Liberty Energy Corp. (OTCBB: LBYE) plans to acquire new acreage in Texas from an undisclosed seller for an undisclosed price.

The assets include an estimated 400 acres in Caldwell and Travis counties. The company intends to conduct further geological and geophysical surveys to complete the plan of development for a lower cretaceous reef prospect on the acreage.

The prospect has one well, which is currently plugged, which was drilled into the reef complex in the 1950s. Hydrocarbon indications in the upper portion of the reef demonstrate that oil stains are contained within sidewall core. Liberty Energy intends to drill on the shelf edge in the optimum reef-forming environment to maximize the potential of this prospect.