Texalta Petroleum Ltd.

Texalta Petroleum Ltd.

May 29, 2006 14:42 ET

Texalta Petroleum Ltd.-Drilling Completed: Wordsworth Area, Saskatchewan

CALGARY, ALBERTA--(CCNMatthews - May 29, 2006) - Texalta Petroleum Ltd. (TSX VENTURE:TEX.A) would like to advise Shareholders that drilling operations on the Texalta et al Wordsworth East HZ 2A2-23-4B11-14-7-3 W2 have been completed. The well reached total horizontal depth of 2033 meters encountering approximately 300 meters of potential oil pay in the horizontal section. The Company is making arrangements for a service rig to install tubing, rods and bottom hole pump for production testing as soon as possible.

Texalta is the Operator with 47.50% working interest.

TEX.A is engaged in the exploration, acquisition and development of prospective oil & gas properties in Saskatchewan and Alberta, Canada. In addition, the Company holds a 50 percent working interest in two exploration permits covering in excess of 5.5 million acres of prospective land in the Georgina Basin, Northern Territory, Australia.

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

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