Probe Resources Ltd.
TSX VENTURE : PBR

Probe Resources Ltd.

November 19, 2008 09:25 ET

Probe Commences Operations at South Timbalier 214 in U.S. Gulf of Mexico

THE WOODLANDS, TEXAS--(Marketwire - Nov. 19, 2008) - Probe Resources Ltd. (the "Company" or "Probe") (TSX VENTURE:PBR) is pleased to announce that it has initiated operations for the drilling of the South Timbalier 214 A-6 Sidetrack #1 well in the U.S. Gulf of Mexico. The Hercules 202 jack-up drilling rig has been mobilized to the Company's South Timbalier 198 platform. The Company is currently completing preliminary operations on the A-6 wellbore at the South Timbalier 198 platform in preparation for sidetracking the well. This A-6 sidetrack will penetrate the unproduced Buliminella 1 formation previously penetrated and logged in El Paso's South Timbalier 214 #1 well. The Company expects to reach total depth and evaluate the well in mid December. Completion operations will immediately follow.

The South Timbalier 198 platform has an existing pipeline to onshore facilities. Minor refurbishment of the production facility is ongoing and expected to be complete concurrent with the completion of the well. Analogous wells in the area have experienced production rates from similar reservoirs in excess of 25 MMcf of gas per day.

About Probe Resources Ltd.

The Company, along with its wholly owned subsidiary Probe Resources US Ltd. located in The Woodlands, Texas, is an oil and natural gas exploration and production company focused on generating, acquiring, developing, and operating drilling prospects within the Texas and Louisiana Outer Continental Shelf of the Gulf of Mexico.

ON BEHALF OF PROBE RESOURCES LTD.

Scott Broussard, Chief Executive Officer and Chairman of the Board

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the Company's securities in the United States. The Company's securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Statements in this press release may contain forward-looking information including expectations of future operations (including drill rig commitments and use of proceeds), commerciality of any gas discovered, production rates, operating costs, commodity prices, administrative costs, commodity price risk management activity, acquisitions and dispositions, capital spending, access to credit facilities, income and oil taxes, regulatory changes, and other components of cash flow and earnings. The reader is cautioned that assumptions used in the preparation of such information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. These risks include, but are not limited to, the risks associated with the oil and gas industry, commodity prices and exchange rate changes. Industry related risks could include, but are not limited to, operational risks in exploration, development and production, delays or changes in plans, risks associated to the uncertainty of reserve estimates, or reservoir performance, health and safety risks and the uncertainty of estimates and projections of production, costs and expenses. The reader is cautioned not to place undue reliance on this forward-looking information.

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

Contact Information