Doxa Energy Ltd.
OTC Bulletin Board : DXAEF

Doxa Energy Ltd.

January 20, 2011 09:01 ET

Doxa Acquires New McMullen County, Texas Project and Commences Operations

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 20, 2011) - Doxa Energy Ltd. (TSX VENTURE:DXA)(OTCBB:DXAEF)(FRANKFURT:5D0) ("Doxa" or the "Company") is excited to announce that it recently closed on the acquisition of a 14.0625% leasehold working interest under approximately 1,412 gross acres comprising the County Line Prospect in McMullen County, Texas. Furthermore, on January 12, 2011 drilling operations were commenced on the initial test well on the prospect, being the Martin-State Gas Unit No. 1. This initial well, which will be drilled vertically to a proposed total depth of 11,800 feet, will be targeting various Wilcox formation sands below 7,500 feet. Several of the objective sands are prolific commercial producers on trend and within two miles of the Martin-State Gas Unit No. 1 location. Hurd Enterprises, Ltd. of San Antonio, Texas is the designated Operator of the project.

About Doxa Energy:

Doxa Energy Ltd. is an oil & gas production/exploration company concentrating on onshore only projects primarily in the State of Texas with a mix of unconventional (including the Eagle Ford Shale) and conventional projects. Doxa is committed to becoming a leading oil & gas company, achieving superior financial and operating results while simultaneously utilizing sound business, social, environmental and safety practices. Additional information on Doxa is available on the Company's website

John D. Harvison, President, Chief Executive Officer

Statements in this press release other than purely historical information, including statements relating to the Company's future plans, objectives or expected results, constitute forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to the risks and uncertainties inherent in the Company's business, including risks inherent in oil and gas exploration and development, and uncertainties in connection with anticipated commodity prices for oil and natural gas, growth of worldwide market demand, exploration capital requirements, length of asset life and availability of qualified personnel, among others As a result, actual results may vary materially from those described in the forward-looking statements.

All references in this press release to BOE are based on a 6 Mcf to 1 Bbl conversion ratio. BOE's may be misleading particularly if used in isolation. A BOE conversion of 6 Mcf to 1 Bbl is based on the energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

This new release does not constitute an offer to sell or the solicitation of an offer to buy any securities of the Company in the United States. The securities of Doxa have not been registered under the U.S. Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States or to or for the account or benefit of a U.S. person unless so registered or pursuant to an available exemption from the registration requirements of such Act or laws.

Neither TSX Venture Exchange nor its Regulation Services providers (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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