Keros Capital Report: 1st NRG Corp Receives $5 million In Funding

Ferndale, WA November 03, 2008 -- 1st NRG Corp (OTC-BB: FNRC) announced last week that it has closed a private placement in the amount of $5 million dollars. The private placement was completed with a group of five (5) institutional, accredited investors.

The private placement consisted of 500 units priced at $10,000 per unit for an aggregate of five million dollars invested into the Company. Each unit consisted of 12,998 shares of the Company's common stock, and 21,682 warrants exercisable at $1.24 per share. The warrants expire thirty months from the date of the issuance. Fully exercised, the warrants would result in an additional $13,442,840 being invested into the company.

A portion of these funds have been set aside for drilling on the Guatemala project. The company believes this funding will provide all of the necessary capital to drill the 2 wells which are committed to. The Guatemala project is a proven structure with existing wells.

The LOI signed between 1st NRG and TrueStar Petroleum Corporation with regard to the Guatemala project, calls for 1st NRG to invest $650,000 for licensing and changeover and to invest up to $12 million for the drilling and completion of two wells in the development area.

About 1st NRG

1st NRG, Corp. is a development stage oil and gas company focused on acquiring, developing and operating petroleum based facilities in the Western Hemisphere.  The management of 1st NRG Corp. intends to focus on acquiring, developing and operating oil and natural gas properties.  This will allow the company and its shareholders to take advantage of management's extensive experience in the industry.

Additional Information on 1st NRG can be found at www.1stnrg.com

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1^st NRG operates in the Oil Energy sector.  Record crude prices this past summer translated into huge profits for top oil energy companies, but some energy companies are bracing for tougher times questioning energy demand and slowing global economic concerns.

Oil stocks did well at the close of trading yesterday: Chevron (NYSE: CVX) up 4.5% on 22M shares,

ConocoPhillips (NYSE: COP) down 1% on 4.9M shares, Exxon Mobil (NYSE: XOM) down under 1% on 16.3M shares, Marathon Oil (NYSE: MRO) up less than 1% on 5 shares, Origin Oil (Nasdaq: OOIL) down 3% on 54 thousand shares, Lukoil Hldg (LUKOY: OTCBB) down 4.6% on 45 thousand shares.

Other sector news on the Keros watch list include: Stem cells Inc (STEM: Nasdaq) up 46% on 5.8M shares, Aastrom Biosciences Inc (ASTM: Nasdaq) up 45% on 4.5M shares, Solarfun Power Holdings (SOLF: Nasdaq) up 22% on 2.2M shares, Dryships Inc (DRYS: Nasdaq) up 19% on 7.2M shares, Surfect Holdings Inc (SUFH: OTCBB) up 53% on 1.5M shares, MDU Comm Intl Inc (MDTV: OTCBB) down 31% on 6.8M shares, Intel (INTC: Nasdaq) up less than 1% on 25.6M shares, Symantec Corp (SYMC: Nasdaq) down 18% on 51M shares.

Disclosure:  All material herein was prepared by Keros Capital Inc. (Keros) based upon information believed to be reliable. The information contained herein is not guaranteed by Keros to be accurate, and should not be considered to be all-inclusive. The companies that are discussed in this opinion have not approved the statements made in this opinion. This opinion contains forward-looking statements that involve risks and uncertainties. This material is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. Keros is not a licensed broker, broker dealer, market maker, investment banker, investment advisor, analyst or underwriter. Please consult a broker before purchasing or selling any securities viewed on http://www.keroscapital.com or mentioned herein.  Keros Capital has been compensated twenty five hundred dollars for coverage of FNRC.  Keros will not advise as to when anyone should buy or sell shares of this company; each investor must make that decision based on his or her judgment of the market.

Jim Mav 973.979.3705