Hull Energy, Inc. Announces Lease Purchase Finalized

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 they have finalized a purchase agreement to acquire 10% Working Interest in the JY1 RANCH leases on August 14, 2011.

CEO Anthony Maye said, “We appreciate Cow Path working hard to finalize this agreement ahead of schedule; we want to show shareholders we are very serious about quickly bringing revenue bearing production into Hull Energy.”

The leases are located in the Hendrick Ranch production play located in the Southeastern corner of Haskell County, an established field that carries multiple oil zones. The JY1 has been a strong gas producer from a lower zone, future plans are to move the well up into an oil bearing zone.

Strong profitable assets that the JY1 lease carries with it is its connection to an active gas pipeline sell point and its close proximity to a water injection well. The water of the JY1 will be moved to the adjacent Perry Lease, named for Gov. Rick Perry and his family who are royalty owners. Gov. Rick Perry’s father farmed the land that the Perry and JY1 lease share.

“Geologically, there is strong a Caddo Reef zone that shows over 20% porosity, and during the drilling process, showed over 600 units of natural gas within a 38 ft. zone. This zone should create PRAC IP like production as it will most likely be choked during its first months of production to maintain the zones long production life,” Said Maye

Visit our website 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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