Liberty Energy Announces Creation of Advisory Board and Appointment of Its First Member

HOUSTON, April 24, 2012 (GLOBE NEWSWIRE) -- Liberty Energy Corp. (LBYE.OB - News) ("Liberty" or "the Company") announces the appointment of Mr. Pete Gawith to the Company's newly created Advisory Board.

Mr. Gawith has worked as a financial analyst and auditor for over 7 years. During this time he has held positions at Barclays Capital (BARC-30B Market Cap) working as an financial analyst within the equity derivatives and fixed Income finance teams and at KPMG. At KMPG he worked as an Assistant Manager where he was given the responsibility of 'in-charging' the audit of HBOS (HBoS) (LLOY-24B Market Cap) Retail during the Lloyds Banking Group takeover and performing the fair value work surrounding the takeover.

His responsibilities have included calculating, analyzing and reporting P&L across a wide range of financial instruments, including management information and account preparation in addition to drafting commentary build outs, P&L platform integration and liaising with sales and traders over trade bookings and cash-flow generation balance sheet and competitor analysis commentary for strategic planning & financial compliance reports.

Mr. Gawith is a qualified accountant and a member of the Institute of Chartered Accountants of England and Wales. His significant exposure to senior management, financial models, valuations and development of technical knowledge coupled with strong mathematics will no doubt prove to be an invaluable resource to the Company.

The Company is currently reviewing additional candidates for positions on the Advisory Board.

"Mr. Gawith's experience in the financial services industry and transaction advisory sector will no doubt prove to be an invaluable resource to the company as we evaluate and develop our current assets whilst appraise potential new oil and gas projects," commented Ian Spowart, CEO of Liberty Energy Corp.

ABOUT LIBERTY: Liberty Energy Corp (LBYE.OB - News) is an Independent Oil and Gas Exploration and Production Company dedicated to the sourcing and production of fuel supplies in the United States and Europe. Headquartered in Houston, Texas, the company has leases and royalties in both Texas and Bulgaria, covering several wells with extensive potential for future development. In Texas, Liberty owns twelve leases based around numerous geological pay zones. In North-West Bulgaria, Liberty has royalty rights to a 1,000,000+ acre natural gas property (the A-Lovech exploration block), an area of high quality, low-sulphur natural gas condensate. Through this combined international reach and domestic focus, Liberty Energy is committed to the development of US fuel reserves while seeking out further opportunities for the global energy markets.

Certain statements in this press release are forward-looking and involve a number of risks and uncertainties. Liberty Energy Corp. bases these forward-looking statements on current expectations and projections about future events, based on information currently available. The forward-looking statements contained in this press release may also include statements relating to Liberty Energy Corp.'s anticipated financial performance, business prospects, new developments, strategies and similar matters. Liberty Energy Corp. disclaims any obligation to update any of its forward-looking statements, except as may be required by law.

ON BEHALF OF THE BOARD OF DIRECTORS,

Liberty Energy Corp

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Liberty Energy Announces Creation of Advisory Board and Appointment of Its First Member