Kroes Energy Inc.
TSX VENTURE : KRS

Kroes Energy Inc.

July 03, 2008 16:31 ET

Kroes Energy Inc. Extends Offer to Purchase Shares of Vecta Energy Corporation

CALGARY, ALBERTA--(Marketwire - July 3, 2008) - Kroes Energy Inc. ("Kroes") (TSX VENTURE:KRS) today announced that it has extended its offer to purchase all of the outstanding shares and debenture of Vecta Energy Corporation ("Vecta"). The offer was scheduled to expire on July 3, 2008 and will be extended to July 14, 2008 at 4:30 pm Mountain Daylight Time.

On May 29, 2008 Kroes offered to purchase all of the outstanding shares and debenture of Vecta through the issue of approximately 36 million common shares of Kroes. The Board of Directors of Vecta has unanimously recommended that its shareholders accept the offer and tender their shares. The extension will allow more time for out-of-country shareholders to submit their certificates for exchange to the Equity Transfer & Trust Company offices located in Toronto.

A Notice of Extension will be mailed to Vecta securityholders, filed with regulatory authorities and placed on the SEDAR website (www.SEDAR.com) under Kroes' profile.

FORWARD-LOOKING STATEMENTS

This disclosure contains certain forward-looking estimates that involve substantial known and unknown risks and uncertainties, certain of which are beyond Kroes' control, including: the impact of general economic conditions in the areas in which the Company operates, industry conditions, changes in laws and regulations including the adoption of new environmental laws and regulations and changes in how they are interpreted and enforced, increased competition, the lack of availability of qualified personnel or management, fluctuations in commodity prices, foreign exchange or interest rates, stock market volatility and obtaining required approvals of regulatory authorities. In addition, there are risks and uncertainties associated with oil and gas operations; therefore, Kroes' actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking estimates and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking estimates will transpire or occur, or if any of them do so, what benefits, including the amounts of proceeds, that Kroes will derive from that.

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

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