Eagle Rock Exploration Ltd.

Eagle Rock Exploration Ltd.

September 14, 2007 13:38 ET

Eagle Rock Announces $3.8 Million Private Placement

CALGARY, ALBERTA--(Marketwire - Sept. 14, 2007) - Eagle Rock Exploration Ltd. ("Eagle Rock" or "ERX") (TSX VENTURE:ERX) is pleased to announce a proposed non-brokered offering of up to 7.6 million common shares to be issued on a flow-through basis eligible for Canadian exploration expense at a price of at a price of $0.50 per common share for maximum gross proceeds of $3.8 million. The net proceeds from the offering will be applied to Eagle Rock's proposed 5 well drilling program in the Red Coulee/Coutts area of southern Alberta.

The common shares will be issued pursuant to prospectus exemptions available under applicable securities legislation in Alberta. Closing of the offering is expected to occur on or about September 28, 2007, and is subject to the receipt of all requisite regulatory and stock exchange approvals. The common shares issued pursuant to the offering will be subject to a four-month hold period from the date of the closing of the private placement.

Eagle Rock Exploration Ltd. is a publicly traded energy company involved in the exploration and development of low to medium risk oil and gas properties in Western Canada.

Eagle Rock Exploration Ltd. Trades on the TSX Venture Exchange under the symbol ERX.

For more information please visit us at www.eaglerockexploration.com.

Forward-looking Information

This press release includes forward-looking statements and assumptions respecting ERX's strategies, future operations, expected financial results, financial sources, commodity prices, costs of production and quantum of oil and natural gas reserves and discusses certain issues, risks and uncertainties that can be expected to impact on any of such matters. By their nature, forward-looking statements are subject to numerous risks and uncertainties that can significantly affect future results. Actual future results may differ materially from those assumed or described in such forward-looking statements as a result of the impact of issues, risks and uncertainties whether described herein or not, which ERX may not be able to control. The reader is therefore cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof and ERX undertakes no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement. In addition, the term BOE or BOE's may be misleading, particularly if used in isolation. A BOE (barrel of oil equivalent) conversion ratio of 6 Mcf per one (1) BOE is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

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

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