EnDevCo Highlights Second Quarter 2008 Financial Results

Share Name	Share Symbol	Market	Type	Share ISIN	Share Description
Elderstreet C	LSE:EDVC	London	Ordinary Share	GB00B068X319	C ORD 5P

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Elderstreet C

LSE:EDVC

London

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GB00B068X319

C ORD 5P

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EnDevCo Highlights Second Quarter 2008 Financial Results

21/08/2008 12:30pm

PR Newswire (US)

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Company Reports 139% Increase in Revenue HOUSTON, Aug. 21 /PRNewswire-FirstCall/ -- EnDevCo, Inc. (OTC:EDVC) (BULLETIN BOARD: EDVC) , the Energy Development Company, is pleased to highlight certain aspects of its financial results for the period ending June 30, 2008: -- Gross Revenue was $1,128,434 for the three months ended June 30, 2008 compared to $472,313 for the same quarter in 2007, which represents a 139% increase. -- Gross Profit was $729,314 for the 2008 second quarter compared to a ($150,585) loss for the same quarter in 2007. -- Net Operating Income was $166,066 for the 2008 second quarter compared to a ($663,644) loss for the same quarter in 2007. "We are focused on improving the profitability of the Company and while we are pleased to achieve the first profitable quarter in EnDevCo's history, we understand we have a lot more work to do," commented Joseph Lessard, Chief Financial Officer for EnDevCo. "The revenue increase as well as the profit recognition is due primarily to the success that we have experienced with the first horizontal well at Short Junction Field, commented Chris A. Dittmar, EnDevCo's Chief Executive Officer. We expect to continue to improve our financial position as we accelerate our development operations in the Field and begin to develop the other properties in our inventory." About EnDevCo: EnDevCo is a dynamic energy company rapidly establishing an identity consistent with its operating philosophy of "Science Before The Drill Bit." The Company has domestic and foreign oil and gas projects with current interests in Oklahoma, the Gulf of Mexico offshore Louisiana, Colombia and Peru. EnDevCo's largest domestic property, Short Junction Field, located in Oklahoma, currently produces from 24 oil wells and 2 gas wells. The Company recently completed drilling its first horizontal well, which has increased production in the Field by more than 300%. EnDevCo maintains offices in Houston and Dallas, Texas. For more information on EnDevCo, visit http://www.endevcoinc.com/. This press release includes certain "forward-looking statements". The forward-looking statements reflect the beliefs, expectations, objectives, and goals of EnDevCo, Inc. management with respect to future events and financial performance. They are based on assumptions and estimates, which are believed reasonable at the time such statements are made. However, actual results could differ materially from anticipated results. Important factors that may impact actual results include, but are not limited to commodity prices, political developments, legal decisions, market and economic conditions, industry competition, the weather, changes in financial markets and changing legislation and regulations. The forward-looking statements contained in this report are intended to qualify for the safe harbor provisions of Section 21E of the Securities and Exchange Act of 1934, as amended. DATASOURCE: EnDevCo, Inc. CONTACT: Tom Cloutier, Investor Relations of EnDevCo, Inc., +1-706-832-2412, ; or Amanda Thomas, Media Relations of Robust Media Group, LLC, +1-407-585-8850, , for EnDevCo, Inc. Web site: http://www.endevcoinc.com/

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