June 01, 2006 17:32 ET

Arapahoe Energy Corporation Acquires 4,300 Acres of Land in Southwest Saskatchewan in Partnership with the Little Pine First Nation

CALGARY, ALBERTA--(CCNMatthews - June 1, 2006) -

Jeffrey L. Standen reports,

Arapahoe Energy Corporation, (TSX VENTURE:AAO) ("the "Corporation" or "Arapahoe") announces it has acquired a 100% interest in various petroleum and natural gas rights underlying 4,300 acres in the Freemont area of Southwest Saskatchewan. The acquired rights represent a portion of the Treaty Land Entitlement (TLE) and Reserve lands within the Little Pine First Nation land base.

Two (2) well re-entries into previously drilled well bores for oil production from the Waseca formation are scheduled to commence prior to July 30, 2006. If successful, additional development follow-up locations and a seismic program may be undertaken prior to year end 2006.

Arapahoe feels that the acquisition of the 4,300 acres of rights lands within the Little Pine First Nation lands base is a first step in Arapahoe continuing to build a mutually beneficial relationship with the Little Pine First Nation.

Arapahoe is a junior oil and gas exploration company engaged in the exploration, development and production of oil and natural gas in Western Canada. Arapahoe's primary areas of exploration focus are the Alberta Foothills, specifically on the Tsuu T'ina First Nation (Sarcee Area) immediately west of the City of Calgary and in western Saskatchewan on Poundmaker Cree Nation lands.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

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