Exile Resources Inc.

Exile Resources Inc.

November 20, 2009 11:00 ET

Exile Resources Inc. Reports Rig Has Arrived at Akepo; Confirms Zambian Bid

TORONTO, ONTARIO--(Marketwire - Nov. 20, 2009) -


Exile Resources Inc. (TSX VENTURE:ERI) ("Exile"), Sogenal Limited (Oil and Gas Company) ("Sogenal") Operator of the Akepo Field, Oando Exploration and Production Limited ("OEPL" or "Oando") today reported that the Lloyd Noble drilling rig has arrived at the Akepo wellsite in the Niger Delta. Following a short period to set up the operation, a 40-day well testing and completion programme will commence on the Akepo -1ST , OML90 offshore Nigeria.

Exile submitted a bid to the Zambian government for a block in the current permit licensing round. Exile is pleased to understand from the recent Zambian Minister of Mines' Press Release that an award has been made to the Company, and are awaiting formal confirmation before disclosing any further details.

About Exile Resources Inc.
Exile Resources Inc. is an oil and gas exploration company advancing the development of the Akepo Oilfield in the shallow water Niger Delta, Nigeria. The Company is also pursuing additional oil and gas, exploration and development opportunities in Africa. Exile Resources Inc. has 63,754,191 issued and outstanding common shares. Please visit Exile Resource's web site for further information: www.exileresources.com.

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Forward-Looking Statements – Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Exile Resources Inc. including, but not limited to the impact of general economic conditions, industry conditions, volatility of commodity prices, risks associated with the uncertainty of estimates, currency fluctuations, independent actions of its joint venture partners, dependence upon regulatory approvals, the availability of future financing and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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