Fidelis Energy

Date: 11 December 2004

Fidelis Energy Updates Initial Comanche Point Steam Results/Stock Dividend Overview

TUCSON, AZ—December 10, 2004/-- Fidelis Energy, Inc. (OTCBB: FDEI), an oil and gas company dedicated to developing North America's energy resources announced today the preliminary results of its’ pilot steam program into the Comanche Point Oil Field located south of Bakersfield California.
Following the steam flood of well number 2, which was completed in Mid-November, the Company has seen a dramatic increase in the oil cut and corresponding barrels per day. The field, previously producing only 20 to 25 barrels per day prior to the steam program, has more than doubled its production from a single steaming cycle on one well.
The third well is undergoing steam flooding currently. Since it is up-dip from well number 2, it is drier sand and we anticipate a greater per-day barrel flow from well 3.
Barring any unforeseen difficulties, the Company plans to implement the full steam-flood program on the entire field beginning in January 2005 which should enable the Company to realize the maximum potential from the field.
The Company announced a .66 share dividend for each share held with a record date of December 8th, 2004 and a payment date of December 10th, 2004. While a stock dividend has effectively the same result as a stock split, the payment of such a dividend is not an instant event or journal entry at the opening of the payment date. Stock certificates representing the payment were sent out via overnight mail by the Company’s transfer agent, but may or may not be credited immediately to each investors account. This crediting could occur rapidly or slowly depending on the clearing agency each brokerage firm utilizes.

About Fidelis Energy, Inc.
Based in Tucson, AZ, Fidelis Energy is an oil and gas company dedicated to solving North America’s complex energy problems. Fidelis Energy identifies, acquires and develops working interest percentages in smaller, underdeveloped oil and gas projects in California, Canada, and other promising locales that do not meet the requirements of larger producers and developers. Through the use of modern development techniques such as horizontal drilling and 3-D seismic, the company enhances production from underdeveloped and under-utilized projects, as it pursues oil and gas production throughout North America. For more information, please visit our website at www.fidelisenergy.com, or contact:
Investor Relations 1-888-894-3334 (FDEI)
Info@fidelisenergy.com

Safe harbor for Forward-Looking Statements:
Except for statements of historical fact, the information presented herein constitutes 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 the 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 general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which Fidelis Energy, Inc. has little or no control.

ON BEHALF OF THE BOARD

Fidelis Energy Inc.
______________________________
Dan Hodges-President