SOURCE: Eldorado Exploration, Inc.

March 04, 2008 10:15 ET

Eldorado Exploration to Participate in Drilling of Two Wells in Illinois and Anticipates the Reef Trend Could Extend Over Parts of 3 States

IRVINE, CA--(Marketwire - March 4, 2008) - Eldorado Exploration (PINKSHEETS: EDEX) announced today that the Company is participating in 2 wells to be drilled in April of 2008 in Illinois. The 'PIP' Process has identified over 100 potential drilling locations in only 3 counties and Eldorado Exploration anticipates that the reef trend could extend over parts of 3 states.

David T. (Tom) Laurance, President and CEO of Eldorado Exploration, Inc., stated, "The EDEX philosophy is to find 50 1,000,000 BBL fields as cheaply as possible instead of risking millions on finding 1 50,000,000 BBL field." Eldorado Exploration has identified hundreds of wells in 5 states with a potential of 2 BCF of gas each, or oil reserves ranging from 200,000 BBLs to 1,000,000 BBLs each.

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.

Contact Information