Exceed Energy Inc.

Exceed Energy Inc.

January 10, 2007 19:25 ET

Exceed Energy Operations Update

CALGARY, ALBERTA--(CCNMatthews - Jan. 10, 2007) - Exceed Energy Inc. ("Exceed" or the "Company") (TSX VENTURE:EX.A)(TSX VENTURE:EX.B) reports that as previously advised, the Company has commenced production at its 7-13-78-21W5M oil well in Normandville, Alberta. The company holds a 50-per-cent working interest in this well. On January 7, 2007, the well began flowing light sweet oil to surface from the Beaverhill Lake formation at an average rate of 138 barrels of oil per day through a 1.6 mm choke.

Exceed Energy Inc. is a Calgary based oil and gas company engaged in the exploration, development, and exploitation of oil and gas reserves in Western Canada. Exceed's Class A and Class B shares trade on the TSX Venture Exchange under the symbols "EX.A" and "EX.B" respectively.

Forward Looking Statements

This press release contains forward-looking statements including expectations of future production, cash flow and earnings. These statements are based on current expectations that involve a number of risks and uncertainties, which could cause actual results to differ from those anticipated. These risks include, but are not limited to: the risks associated with the oil and gas industry (e.g. operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projects relating to production, costs and expenses, and health, safety and environmental risks), commodity price, price and exchange rate fluctuations and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures. Additional information on these and other factors that could affect Exceed's operations or financial results are included in Exceed's reports on file with Canadian securities regulatory authorities that may be accessed at www.sedar.com or through the Company's website, www.exceedenergy.com.

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

Contact Information

  • Exceed Energy Inc.
    Richard Wolfli
    President and CEO
    (403) 508-1853
    (403) 508-1781 (FAX)
    Website: www.exceedenergy.com