Zapata Energy Corporation

Zapata Energy Corporation

June 12, 2006 17:35 ET

CORRECTION FROM SOURCE: Zapata Energy Corporation News Release

CALGARY, ALBERTA--(CCNMatthews - June 12, 2006) - A correction from source is being issued with respect to the release issued on JUNE 12, 2006 - 15:47 ET. The date June 21, 2006 in the previous release should read June 20, 2006. The complete and corrected release appears below.

The previously announced two-for-one share split was approved at the annual general and special meeting of shareholders of Zapata Energy Corporation (TSX VENTURE:ZCO) held on June 8, 2006. The effective date is expected to be on June 23, 2006 with each shareholder of record at the close of business on June 20, 2006 entitled to receive one additional common share for each common share held. Share certificates representing the additional common shares are expected to be mailed on or about June 30, 2006. The TSX Venture Exchange will publish a bulletin or notice relating to the mechanics of the share split.

Zapata is a junior oil and gas production company operating in Western Canada. Zapata trades on the TSX Venture Exchange under the symbol "ZCO".

This press release may include forward-looking statements which are statements other than of historical fact, such as information regarding drilling potential and production forecasts. Factors that could cause actual results to differ materially from our expectations include exploration and development risks, commodity prices and operating hazards.

The TSX Venture Exchange has neither approved nor disapproved of the information contained herein.

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