SOURCE: Eldorado Exploration, Inc.

February 27, 2008 09:45 ET

Eldorado Exploration Drills Well on 11,000 Acre Structure in New Mexico With 95' of Logged Gas Sands

Potential Reserves Could Exceed 60 Billion Cubic Feet With Eldorado's 33% Working Interest Potentially Delivering Over $100,000,000 in Total Future Revenue at Today's Prices

IRVINE, CA--(Marketwire - February 27, 2008) - Eldorado Exploration (PINKSHEETS: EDEX) announced today that it has drilled a well on an 11,000 acre structure in New Mexico with 95' of logged gas sands. Completion and testing are scheduled to be done in the 2nd Quarter 2008. There could be up to 50 gas wells on the company's acreage.

Eldorado Exploration discovered the large gas field in New Mexico with the PASSIVE INDUCED POLARIZATION (PIP) technology. The Mesa gas field in New Mexico needs approximately 15 wells drilled offsetting the discovery well in order to have the closest pipeline built to a gathering system to transport the Company's gas. Potential reserves could exceed 60 billion cubic feet. Eldorado Exploration has a 33% working interest which could deliver over $100,000,000 in total future revenue at today's prices.

Eldorado Exploration, Inc. uses a technological process called PASSIVE INDUCED POLARIZATION (PIP) which greatly enhances the odds of finding commercial quantities of Oil and Gas. The process helps eliminate geological prospects that will be dry holes. Strong signals indicate commercial potential of discovering oil and / or gas. No signal or weak readings indicate low probability for a successful find. The cost of evaluating prospects is a small fraction of 3-D Seismic and takes much less time. 'PIP' technology takes days instead of months or years for 3-D Seismic.

About Eldorado Exploration

Eldorado Exploration, Inc. is an independent oil and gas company that utilizes a process called Passive Induced Polarization 'PIP' to detect electrostatic signals given off of some geological anomalies. In most cases, a positive response indicates a hydrocarbon accumulation and a negative reading is almost always a dry hole. When used with the standard geological tools and methods, the PIP process enhances the odds of success for discovering oil and gas. Additional information is available at

Safe Harbor Statement

This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Eldorado Exploration, Inc., and members of their management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.

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