SOURCE: Lighthouse Petroleum, Inc.

April 23, 2010 08:00 ET

Lighthouse Petroleum, Inc. Now Planning Drilling of Wyoming Acreage

DALLAS, TX--(Marketwire - April 23, 2010) -  Lighthouse Petroleum, Inc. (PINKSHEETS: LHPT) is pleased to announce to shareholders that both Lighthouse Petroleum along with their working interest partner have filed for the inaugural drilling permit on the Diamond Springs Location submitted to Bureau of Land Management on April 20, 2010. The initial drilling location is located in T. 32 N., R. 90 W., Sec. 9 of Fremont County, Wyoming.

Based upon 3rd party Geological Assessments, this particular section of the Diamond Springs Prospect represents approximately 25+ drilling locations, out of a total of 75+ overall drilling locations on the Diamond Springs acreage, and up to 1.5MM barrels of crude, out of a total potential 4.3MM barrels of crude that exist on the Diamond Springs acreage. If the drilling of this well is successful and the determination of an existing stratigraphic trap is validated, this could represent future Gross Revenues of over $120MM (8/8ths basis) based on today's current crude price.

Mr. Glen Kennedy states, "Since joining Lighthouse Petroleum last month, we have made significant progress in achieving our goal of drilling on our Wyoming Oil and Gas Acreage. Now that the permitting process has been submitted, we will now focus our efforts on the drilling and completion of the DSP #1."

The company is seeking to drill to a total depth of 800' with spudding of the well to occur prior to August of 2010. This Morrison Test Well is to identify the productivity of the both the Dakota and Lakota Sands as well as further verify the existence of a believed stratigraphic trap. The delay in drilling is currently due to a federal environmental stipulation associated with this acreage which will expire mid-July. The Company is simultaneously determining the deeper targets that might exist on this acreage such as the Dinwoody, Phosphoria, and the Tensleep.

Please visit the newly updated Corporate Website at www.lhpetro.com to examine the recent updates made by Management.

Please send all inquiries regarding this press release to IR@lhpetro.com.

About Lighthouse Petroleum, Inc.

Lighthouse Petroleum, Inc. (PINKSHEETS: LHPT) is an oil & gas exploration and exploitation company headquartered in Dallas, Texas. The company is publicly traded on the over-the-counter Pink Sheets trading system under the symbol LHPT.

Currently, Lighthouse Petroleum is focused on acquiring oil and gas assets within both the Wind River and Permian Basin. Lighthouse Petroleum's first acquisition is located within the Wind River Basin allowing Lighthouse Petroleum the opportunity to develop unproven oil and gas reserves, thus contributing to our domestic energy needs. Additionally, management is currently seeking exploitation acquisition opportunities within Texas that will complement our Diamond Springs Drilling Prospect. With the ability to acquire and exploit under producing assets, it is the Company's mission to further build upon shareholder value.

Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include but are not limited to, risk factors inherent in doing business. Forward-looking statements may be identified by terms such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "forecasts," "potential," or "continue," or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. The company has no obligation to update these forward-looking statements.

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