Hull Energy, Inc. Announces First Oil Lease Acquisition under New Management

In an effort to improve its short- and long-term financial condition and create greater shareholder value, Hull Energy, Inc. (OTC Pink Sheet: HULL) today announced that they executed a LOI (letter of intent) to acquire a 10% Working Interest in the JY1 RANCH leases.

The LOI was signed on August 5, 2011 with Working Interest Lease holder Cow Path Energy Corp, a Wyoming Corporation. The lease is located in the Southeast corner of Haskell County, Texas just East of Stamford, TX. Hull estimates that the production of oil and gas from this lease should commence within 45 days following the signed purchase agreement.

Newly appointed CEO Anthony Maye stated, “This is just the first step in implementing our plan to bring onboard quality leases and wells that have been under developed from Central Texas. This lease was a strong producer of natural gas and has a current pipeline ready to connect. Due to the quick restoration process of this well, we thought it was a great lease to start with to add revenues into Hull. I have worked in the past with Cow Path Energy Corp on several projects, and could imagine no better partners for Hull’s first acquisition.” Ms. Antoinette Spradlin, of Cow Path Energy commented, “We are excited about starting operations in the multi-zoned Hendrick Ranch Lease, and having Hull Energy as a long term partner."

We expect to sign a definitive agreement within the next 20 days and will release more detailed information at that time.

Visit our web site www.hullenergy.com.

This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include failure to complete successfully the development of new or enhanced products, the successful implementation of acquisition program, the Company's future capital needs, the success of competitive products, fluctuations in costs, changes in consumer preferences and other items described in the Company's Securities and Exchange Commission filings. The Company undertakes no obligation to update any statements in this press release.

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