October 7, 2009 (FinancialWire) — Digital Lifestyles Group, Inc. (OTC: DLFG) has entered into two leases covering a total of approximately 43 acres which will permit it to begin exploration for oil and gas in Tennessee and Kentucky.

The Tennessee lease is approximately 10.5 acres and is considered a direct offset to a well located on an adjacent property that was a 500 barrel per day flowing well when drilled. The Kentucky lease is approximately 32 acres and the company believes this site is of particular promise due to several producing formations in the immediate area, including the Granville, Sunnybrook, Stones River, Murfreesboro, Wells Creek and Knox formations.

The initial terms of the leases are one year and each lease automatically renews for additional terms providing that the company has begun drilling operations on the property. The company has begun the process of applying for all the necessary permits with all state and federal agencies and upon receipt it intends to begin drilling operations as soon as possible.

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) web site (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

Free annual reports for companies mentioned in the news are available through the Free Annual Reports Service (http://investrend.ar.wilink.com/?level=279).

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.