SOURCE: Lotta Energy

February 21, 2008 09:00 ET

Lotta Energy Submits Final Application for Two Drilling Locations on Swan River Lands

CALGARY, AB--(Marketwire - February 21, 2008) - Lotta Energy (PINKSHEETS: LCOL) (FRANKFURT: LC5) today announced that it has submitted final applications for approval of two drilling locations (gas) on the Swan River Reserve.

"Approval is expected within 7 days, and drilling is anticipated to commence within 7 days of approval," said Dr. Nicolas Matossian, President and CEO of Lotta Energy. "This initial drilling will signify the beginning of a 20-30 well program on these lands. With the results of these wells and a 3D seismic program currently planned for Q2 2008, we will be able to fine tune our exploration and development plan for the next 24 months activity," he added.

About Lotta Energy Inc.

Lotta Energy Inc. is a unique oil and gas company with three separate wholly owned operating subsidiaries, each with rights to explore and develop oil and gas resources in partnership with different First Nations commercial entities in Northern Alberta, Canada. The Company is publicly traded on the over-the-counter market under the Ticker symbol LCOL, and in Frankfurt LC5.

Shares Outstanding:      228,000,000
Shares Authorized:       400,000,000
Approx. Public Float:    22,000,000

Important Information About Forward-Looking Statements

All statements in this news release that are other than statements of historical facts are forward-looking statements, which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates," "believes," "could," "expects," "intends," "may," "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.

A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions.

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