EnergyNet President/CEO William W. Britain Testifies Before the House Subcommittee on Energy and Mineral Resources

EnergyNet, Inc. - Amarillo, TX -- September 23, 2011

EnergyNet, Inc. (http://www.energynet.com), William W. Britain, EnergyNet President and CEO, testified Tuesday, September 13, 2011 before the House Subcommittee on Energy and Mineral Resources in support of HR 2752, "The BLM Live Internet Auctions Act". The bill would amend the U.S. Mineral Leasing Act by authorizing the Secretary of the Interior to conduct onshore oil and gas lease sales through Internet-based live lease sales, and for other purposes.

During the hearing, the bill's sponsor, Representative Bill Johnson of Ohio asked Mr. Britain how quickly EnergyNet could be ready to act in response to this legislation passing. Mr. Britain replied, "EnergyNet is ready to assist the BLM as quickly as the BLM is ready to go; EnergyNet is capable of loading a lease within one week." The bill currently has 12 co-sponsors.

When asked his thoughts on the hearing, Mr. Britain replied, "I thought it went extremely well, we are ready to assist the BLM in moving into the 21st century in terms of selling Federal on-shore Leases. We were honored to conduct the Oil and Gas Lease Internet Auction Pilot Program (OGLIAP) for the BLM in 2009, which went very well. We have successfully sold more than 35,500 oil and gas properties including private and federal leases across the lower 48 over the past 11 years. To access additional information regarding HR 2752 Click Here.

EnergyNet specializes in Auction and Mid-Tier Negotiated sales and is the only continuous oil and gas property marketplace that operates 24/7/365, offering constant liquidity. Selling properties in their lowest definable strategic unit (single well, lease or field) maximizes value by attracting more bidders, thus increasing competition. EnergyNet's real-time marketplace provides exemplary service to sellers and buyers. EnergyNet's 24/7/365 sales provide accurate value assessment in a liquid market by tracking transaction metrics on a consistent and frequent basis, with property sales in every onshore U.S. Basin. Let us match our capabilities to your requirements. Call 877.351.4488 or visit our website: http://www.energynet.com.