Texalta Petroleum Ltd.

Texalta Petroleum Ltd.

October 30, 2007 18:37 ET

Texalta Petroleum Ltd.: Annual Filing

CALGARY, ALBERTA--(Marketwire - Oct. 30, 2007) - Texalta Petroleum Ltd. ("Texalta", the "Corporation" or the "Company") (TSX VENTURE:TEX.A) is pleased to announce that it has filed with Canadian securities regulatory authorities its Annual audited financial statements and related Management's Discussion and Analysis for the year ending June 30, 2007 and certain reports relating to the Corporation's reserves data and other oil and gas information required under National Instrument 51-101. These filings are available for review at www.sedar.com.

TEX.Ais engaged in the exploration, acquisition and development of prospective oil & gas properties in Saskatchewan and Alberta, Canada. The company also holds a 1000 percent working interest in two exploration permit applications covering in excess of 5.5 million acres of prospective land in the Georgina Basin, Northern Territory, Australia.

This press release may include certain forward-looking statements. These statements are based on current expectations that involve a number of risks and uncertainties, which could cause actual results to differ from those anticipated.

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

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