Excelsior Energy Limited

Excelsior Energy Limited

December 04, 2006 09:00 ET

Excelsior Files Interim Financial Statements and Provides Financing Update

CALGARY, ALBERTA--(CCNMatthews - Dec. 4, 2006) - Excelsior Energy Ltd. (CNQ:EXEL) announces that it has filed its interim report to shareholders, including unaudited interim consolidated financial statements for the three and twelve months ended September 30, 2006, and related Management's Discussion and Analysis. In addition Excelsior has filed amended financial statements for the quarter and 9 months ended June 30, 2006. These documents are available at www.sedar.com.

Further to our previous releases regarding financing. Excelsior has suspended its Short Form Prospectus Offering to allow the company to continue discussions with a group of private investors. The terms of Excelsior's farm-in agreements relating to the North Sea Licenses required the company to demonstrate the financial capability to meet the farm-in obligations by November 30. However, the company is continuing discussions with the parties to the farm-in agreements and the UK Department of Trade and Industry to accommodate a revised financing timeframe.

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