DPE Drake Energy Ltd.

Drake Energy Ltd. (TSX VENTURE:DPE)

Sousa Oil Program

The Company's oil program at Sousa included the re-entry of a horizontal well at
01-24. The well is currently producing over 120 BBLD of light sweet crude oil.
The well has been producing since the beginning of the month and has seen
steadily increasing levels of production. The well has opened up multiple
follow-up locations which are under consideration. The 01-24 well is expected to
qualify for both the 5% royalty program and the transitional royalty rates.


"Our oil program at our core area of Sousa is off to a great start. We have
recently acquired the remaining 25% working interest in the area and our oil
well re-completion is producing at excellent rates. We own 100% of the
infrastructure necessary to continue our growth and we have over 35 sections
with numerous oil and gas locations. The Company is poised to continue our
growth trend and gain value for our shareholders." said Drake president, Mr.
Neil Orr.


Drake Energy Ltd. is active in oil and gas exploration and development in
Alberta. Headquartered in Calgary, Alberta, Canada, the Company is publicly
traded on the Toronto Stock Exchange Venture Board under the stock symbol DPE.V.


This news release contains forward-looking information. Implicit in this
information are assumptions regarding commodity pricing, production, royalties
and expenses that, although considered reasonable by the Company at the time of
preparation, may prove to be incorrect. These forward-looking statements are
based on certain assumptions that involve a number of risks and uncertainties
and are not guarantees of future performance. Actual results could differ
materially as a result of changes in the Company's plans, commodity prices,
equipment availability, general economic, market, regulatory and business
conditions as well as production, development and operating performance and
other risks associated with oil and gas operations. There is no guarantee made
by the Company that the actual results achieved will be the same as those
forecasted herein. Barrel of oil equivalent ("boe") amounts may be misleading,
particularly if used in isolation. A boe conversion ratio has been calculated
using a conversion rate of six thousand cubic feet of natural gas to one barrel
and is based on an energy equivalent conversion method application at the burner
tip and does not necessarily represent an economic value equivalent at the
wellhead.

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