Doxa Energy Ltd.

Doxa Energy Ltd.

October 21, 2010 15:44 ET

Doxa Comments on Recent Demand for Its Shares

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 21, 2010) - Doxa Energy Ltd. (TSX VENTURE:DXA)(OTCQX:DXAEF)(FRANKFURT:5D0) ("Doxa" or the "Company") wishes to report that it is not aware of any material undisclosed information or corporate developments at this time that would cause increased upward demand for its shares (as was demonstrated prior to today's market open on the TSXV). Doxa Energy is an oil & gas production, development and exploration company involved in a variety of conventional and unconventional leases in Texas including several in the prolific Eagle Ford Shale, South Texas. On October 4th of this year Doxa announced that it had commenced its first oil & gas production activities within only four months of it having completed its qualifying transaction.

Furthermore in a press release issued by Doxa Energy on October 15, 2010 the Company announced that is has arranged a non-brokered private placement of 10,000,000 units (each a "Unit") at a price of CDN $0.35 per Unit to raise aggregate proceeds of CDN $3,500,000. Each Unit is comprised of one common share and one half of one share purchase warrant. Each whole share purchase warrant (a "Warrant") entitles the holder to acquire one additional common share for a period of two years at a price of CDN $0.55. Upon the completion of a four month period commencing from the date of issuance, the Warrants will be subject to accelerated conversion within 30 days of the Company disseminating a press release providing notice of same, in the event the shares of the Company close at over CDN $0.75 for 10 consecutive trading days.

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.

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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