Sahara Energy Ltd.
TSX VENTURE : SAH
PINK SHEETS : SAHRF

Sahara Energy Ltd.

November 26, 2009 16:40 ET

Sahara Energy Ltd.: Consolidation of Common Shares and Name Change

CALGARY, ALBERTA--(Marketwire - Nov. 26, 2009) - Sahara Energy Ltd. (the "Corporation") (TSX VENTURE:SAH) (PINK SHEETS:SAHRF) announces that it filed, on November 23, 2009, its audited annual financial statements, annual management discussion and analysis and certification of annual filings for the year ended December 31, 2008.

The Corporation will be placing before its shareholders at its Annual and Special Meeting to be held December 22, 2009 (the "Meeting") a special resolution (the "Share Consolidation Resolution") authorizing the Corporation to file articles of amendment to provide for the consolidation of the issued and outstanding Common Shares of the Corporation on the basis of one (1) post-consolidation Common Share for up to a maximum of every four (4) pre-consolidation Common Shares (the "Consolidation"). The Consolidation requires passing by the requisite number of shareholders of the Share Consolidation Special Resolution at the Meeting and requires the TSX Venture Exchange acceptance of the Consolidation. If the Share Consolidation Resolution is passed, the directors of the Corporation will have the authority to revoke it before it is acted upon. The Corporation currently has issued and outstanding 38,036,302 Common Shares. In order to attract equity financing to meet the Corporation's working capital requirements and in order to fund future acquisitions, the directors consider it advisable to consolidate the Common Shares as outlined above.

In addition to the proposed Consolidation, the Corporation will be placing before its shareholders a special resolution to approve the change of name of the Corporation.

About Sahara Energy Ltd.

The Corporation is a junior oil and gas company focused on the exploration and development of oil and gas in Western Canada.

READER ADVISORY

Certain statements regarding Sahara Energy Ltd., including management's assessments of future plans and operations, may constitute forward-looking statements under applicable securities laws and necessarily involve known and unknown risks and uncertainties, most of which are beyond the Corporation's control. These risks may cause actual financial and operating results, performance, levels of activity and achievements to differ materially from those expressed in, or implied by, such forward-looking statements.

Such factors include, but are not limited to: the impact of general economic conditions in Canada and the United States; industry conditions including changes in laws and regulations including adoption of new environmental laws and regulations, and changes in how they are interpreted and enforced; competition; the lack of availability of qualified personnel; fluctuations in commodity prices; the results of exploration and development drilling and related activities; imprecision in reserve estimates; the production and growth potential of the Corporation's various assets; fluctuations I foreign exchange or interest rates; the ability to access sufficient capital from internal and external sources; and obtaining required approvals of regulatory authorities. Accordingly, the Corporation gives no assurance nor makes any representations or warranty that the expectations conveyed by the forward-looking statements will prove to be correct and actual results may differ materially from those anticipated in the forward-looking statements. The Corporation undertakes no obligation to publicly update or revise any forward-looking statements.

"Neither the TSX Venture Exchange nor its Regulation Services Provided (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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