ARAPAHOE ENERGY CORPORATION
TSX VENTURE : AAO

ARAPAHOE ENERGY CORPORATION

May 18, 2006 18:01 ET

Arapahoe Energy Corporation: Drilling Update

CALGARY, ALBERTA--(CCNMatthews - May 18, 2006) - Arapahoe Energy Corporation (TSX VENTURE:AAO) (the "Corporation" or "Arapahoe") announces that it has contracted Precision Drilling to drill the first 8 wells in a planned multi-well drilling program in the Senlac, Freemont, Poundmaker and Cutknife areas in Southwest Saskatchewan.

Drilling is expected to commence on or around May 28, 2006 and continue steadily until all 8 wells are completed. At Sarcee, drilling is expected to commence on the first of a planned 4 well drilling program prior to June 15, 2006. The wells have been licensed and Arapahoe is currently evaluating bids to contract a drilling rig.

Arapahoe is a junior oil and gas exploration company engaged in the exploration, development and production of oil and natural gas in Western Canada. Arapahoe's primary areas of exploration focus are the Alberta Foothills, specifically on the Tsuu T'ina First Nation (Sarcee Area) immediately west of the City of Calgary and in western Saskatchewan on Poundmaker Cree Nation lands.


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