Excelsior Energy Limited

Excelsior Energy Limited

October 05, 2007 13:01 ET

Excelsior Receives Confirmation of Listing on TSX Venture Exchange

CALGARY, ALBERTA--(Marketwire - Oct. 5, 2007) - Excelsior Energy Limited (TSX VENTURE:ELE) (CNQ:EXEL) ("Excelsior" or the "Company") is pleased to announce the TSX Venture Exchange ("TSX-V") has confirmed the listing of the Company's common shares on the TSX-V. Further to the Company's news release on September 25, 2007, Excelsior has complied with the requirements of the TSX-V and the common shares of the Company will be listed and posted for trading on the TSX-V under the trading symbol "ELE" on Tuesday, October 9, 2007.

Excelsior's common shares will cease trading on the CNQ exchange at the close of business on Friday, October 5, 2007 (EXEL - CNQ).

In connection with a private placement that closed on June 25, 2007, the Company issued 31,765,000 warrants to subscribers. These warrants will expire, unexercised, on October 9, 2007, when the Company's shares commence trading on the TSX-V. Each warrant entitled the holder to an additional 0.05 of a common share at no additional cost should the common shares of the Company not be listed and posted for trading on the TSX-V on or before the expiration of 120 days from the closing of the private placement.

About Excelsior Energy

The Company is active in oil sands exploration and appraisal in the Hangingstone and West Surmont areas near Fort McMurray, Alberta and will hold a 75% working interest in 57 contiguous sections on completion of its farm-in obligations. The Company also holds a 100% working interest in Blocks 16/1a and 16/6c in the UK North Sea and a minor interest in gas production in Alberta. The Company's strategy is to capture oil and gas appraisal and development opportunities where we can leverage Management's diverse international experience and field development expertise. This includes heavy oil reservoir engineering and development of complex fields. The scale of the oil sands resource opportunity in Alberta complements Excelsior's international portfolio and strategy.

Forward-Looking Statements: This news release contains statements about future events that are forward looking in nature and, as a result, are subject to certain risks and uncertainties such as changes in plans or the occurrence of unexpected events. Actual results may differ from the estimates provided by management. Readers are cautioned not to place undue reliance on these statements.

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

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