Bedford adds rig #2 for its warren 1-14 well

OTC: BFDE MEDIA RELEASE August 14, 2006 BEDFORD ADDS RIG #2 FOR ITS WARREN 1-14 WELL EDMOND, Oklahoma, August 14, 2006; Newswire - Bedford Energy, Inc. (OTC "BFDE") (Cusip 076110 105) - Bedford Energy, Inc. announced today that it has contracted a second rig to begin drilling its Warren 1-14 well on a Bedford lease in Hughes County, Oklahoma. Drilling is scheduled to begin on Friday August 18, 2006 to a total depth of 6,600 feet. The primary target zones are the Oil Creek and the Woodford Shale formations. In East Chandler, Oklahoma, the "Grace #1" has been completed in the Red Fork formation and will be on line in the very near future. The "Grace #3" is being completed in the Hunton formation and will be on line as soon as a disposal well is available. The "Grace #4" is currently being drilled to a total depth of 7,500 feet into the Arbuckle formation and is currently at 4,483 feet. For more detailed information on the Company or for a current status of our drilling results, please contact [email protected] or visit www.bedfordenergy.com About Bedford Independent Oil and Gas Bedford Energy specializes in the recovery of oil & gas reserves through acquisition and project development, including existing field enhancement, and low-risk exploration opportunities. The Company has also created an oil field equipment division with specific industry alliances for resale. SEC DISCLAIMER Information contained herein may contain forward-looking statements which are not guarantees of future success or that there cannot be losses. The actual presence or recoverability of reserves for optimal and timely recovery, well costs or schedules or other matters cannot be promised. This release contains "Safe Harbor" provisions of the US Private Securities Litigation Reform Act of 1995 & involves risks and uncertainties, which could cause actual results to differ materially from those estimated herein. Bedford believes the forward-looking statements are based on current reasonable assumptions but can give no assurance that results will be achieved. Unpredictable & unanticipated risks, trends and uncertainties including inability to accurately forecast operating results; the potential inability to achieve profits or have cash flow; access to financing; and other must be understood. Bedford assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events. Bedford Energy, Inc, 221-B W. Edmond RD, Edmond OK 73003