XnE, Inc. Signs Operating Agreement with PEMCO LLC

NORTHRIDGE, Calif., May 16, 2011 /PRNewswire/ -- XnE, Inc. (Pink Sheets: XNEZ) announced that it has signed an operating contract with Petroleum Energy Management Company ("PEMCO") to develop and manage its oil properties within the mid-continent marginal well market section. PEMCO shall oversee day to day operations of XnE's Doshier Project in Nowata County, Oklahoma and will develop its expansion plans, administer drilling programs, and advise in evaluating and acquiring other oil properties within the region.

PEMCO is a Limited Liability Company based in Oklahoma and is a licensed Operator with the Oklahoma Corporation Commission under operator number 22089. PEMCO's management has over 65 years of combined experience in the business of oil and gas exploration and in the operation of oil and gas leases.

"We are extremely pleased to partner with PEMCO and this agreement will have an immediate impact in the implementation of Doshier Project. Furthermore, PEMCO's local area knowledge gives a competitive advantage to screen and source various acquisition prospects in the region," commented Imran Firoz, President of XnE, Inc.

About the Company

XnE, Inc. is a domestic onshore oil and gas acquisition corporation based in Northridge, California which is engaged in acquisition, development, and production of oil and gas properties in the United States. XnE is committed to grow its current production rate by implementing an aggressive acquisition strategy that is based on a positive outlook in the oil and gas sector and finding opportunistic deals with mineral owners.

Forward-Looking Statement

Any statements made in this press release which are not historical facts contain certain forward-looking statements; as such term is defined in the Private Security Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement. This press release shall not be deemed a general solicitation.

Contact:
Imran Firoz, President
XnE Inc.
T: +1 818.300.5792, F: +1 818.975.5775, E: [email protected]

SOURCE XnE, Inc.