Capital City Energy Group Continues Successful Participation in the Barnett Shale

PRLog (Press Release) - May 27, 2008 -
Capital City Energy Group, Inc. (OTCBB: CETG) announced today that it has successfully participated in its fourth producing natural gas well drilled in the prolific Barnett Shale formation in central Texas. The horizontally drilled well located in Tarrant County was recently fracture stimulated and placed into production at an initial rate of 3.2 million cubic feet of natural gas per day. Capital City Energy Group has also participated in three additional horizontal wells located in Parker and Tarrant Counties, which have been successfully drilled and are awaiting fracture stimulation, after which they will be placed into production by the operator.

“We are very pleased with the results of our latest drilling participation venture in the Barnett Shale, and we’re excited to have a foothold with a successful operator in the area,” said Capital City Energy Group CEO Timothy Crawford. “The success we have had in this area is consistent with the Company’s approach to participate in drilling ventures in areas with proven production that can generate significant cash flow for the Company. Given the robust environment for natural gas prices, our Company and its energy funds should benefit from production in this region for years to come.”

Located near Fort Worth, Texas, the Barnett Shale has become one of the premier natural gas producing formations in the United States, estimated to hold some 39 trillion cubic feet of natural gas reserves. Total daily production from the Barnett Shale formation is estimated to exceed 3.5 billion cubic feet.

About Capital City Energy Group, Inc.

Capital City Energy Group (CETG) is a rapidly expanding energy company, focused on Oil and Gas. It is an innovative leader in the design, management and sponsorship of retail and institutional direct participation energy programs and one of the few vertically integrated independent oil and natural gas companies operating today. CETG identifies and develops growth opportunities through drilling, operating, oil field service companies, and fund management.

"Investing in America's Energy Future"

Visit Capital City Energy Group at www.capcityenergy.com

Safe Harbor Statement

Investors and readers are cautioned that certain statements contained in this document, as well as some statements in periodic press releases and some oral statements of our officers and directors during presentations about our energy funds, along with Capital City Energy Group's filings with the Securities and Exchange Commission, including the Company's registration statements, quarterly reports on Form 10-Q and annual report on Form 10-KSB, are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward-looking statements include statements that are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "expects", "anticipates", "intends", "plans", "could", "might", "believes", "seeks", "estimates" or similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future actions, which may be provided by the Company's management, are also forward-looking statements as defined by the Act. Forward-looking statements are based on current expectations and projections about future events and are subject to various risks, uncertainties and assumptions about Capital City Energy Group, its technology, economic and market factors and the industries in which the Company does business, among other things. These statements are not guarantees of future performance and Capital City Energy Group, Inc. undertakes no specific obligation or intention to update these statements after the date of this release

CEOcast, Inc. for Capital City Energy Group, Inc.
Daniel Schustack, 212-732-4300

CORPORATE HEADQUARTERS
Capital City Energy Group, Inc.
8351 North High Street
Suite 101
Columbus, Ohio 43235
(614) 310-1614 Local
(877) 310-1614 Toll free
(614) 310-1610 Fax

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