SOURCE: Eldorado Exploration, Inc.

March 11, 2008 09:45 ET

Eldorado Exploration, Inc. to Drill 3 Oil Prospects in Nebraska

Illinois Wells to Be Drilled in Shallow Pinnacle Reef System

IRVINE, CA--(Marketwire - March 11, 2008) - Eldorado Exploration (PINKSHEETS: EDEX) announced today that the Company has agreed to drill 3 new prospects in Nebraska. The prospects range in size from a potential of 10 up to 40 wells with reserves from 100,000 to 250,000 BBLs per well. Drilling is expected to commence as early as May, 2008.

Also, Eldorado Exploration, Inc. remains ready to drill 2 Illinois wells in a shallow pinnacle reef system. Warmer weather is required to gain the county permit to move a drilling rig on county roads between January 15 and April 15. Drilling is expected to start in April and take from 7 - 10 days per well.

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 www.eldoradoexploration.com.

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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