International PetroReal Oil Corporation
TSX VENTURE : IPO

International PetroReal Oil Corporation

November 19, 2007 18:27 ET

International PetroReal Announces Closing of Private Placement, Closing of Acquisition, Investor Relations Consultant, NI 51-101 Reports

CALGARY, ALBERTA--(Marketwire - Nov. 19, 2007) - International PetroReal Oil Corporation (the "Corporation") (TSX VENTURE:IPO) is pleased to announce that it has closed its previously announced private placement for gross proceeds of $2,381.296. The Corporation issued 5,953,240 shares at $0.40 per share and issued 2,976,620 share purchase warrants with an exercise price of $0.80 per share expiring on November 16, 2009. The Corporation will pay a finder's fee of $238,130 and will issue 595,324 warrants with an exercise price of $0.80 expiring November 16, 2009. The proceeds were used for the acquisition of oil and gas assets. The acquisition closed on November 15, 2007. The shares are subject to a resale restriction which expires on March 16, 2008.

The Corporation also announces that Dunedin Inc has been retained to provide investor relation services. Mr. Ed Borrelli is the principal of Dunedin with offices in New York City. Dunedin will be engaged for a period of 6 months for $5,000 per month plus expenses. The Corporation will also grant to purchase 100,000 options with an exercise price of $0.70 to the investor relation advisor. This contract is subject to regulatory approval. This agreement will enhance the Corporation's exposure to the investment community by providing information on current and future activities of the Corporation.

The Corporation has filed its annual disclosure and reports relating to reserves data and other oil and gas information for the year ended December 31, 2006 as required pursuant to National Instrument 51-101. Copies of these documents may be obtained electronically from the SEDAR system at www.sedar.com.

The Corporation is an oil and gas exploration and development company whose primary focus is on the acquisition of producing properties with the aim of building a premier upstream production corporation.

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

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