Oracle Energy Corp.
TSX VENTURE : OCL

Oracle Energy Corp.

October 21, 2005 07:00 ET

Oracle Energy Completes the Option Agreement to More than Double its Interest to 15% in the Block 22 Oil & Gas Concession in Yemen

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 21, 2005) - Pursuant to it's news release of September 15, 2005 Oracle Energy Corp. (TSX VENTURE:OCL) is pleased to announce that it has exercised it's option with Yemen Mayfair Petroleum Corporation ("YMPC")to acquire an additional 8 percent interest in Block 22 in Yemen. Oracle Energy Corp. has paid YMPC USD$560,000 and issued 200,000 Oracle common shares for the additional 8 percent interest.

The USD $560,000 paid to YMPC will be added to Oracle's contribution towards the drilling, testing, and completion of the Beta -1 well. Drilling of the Beta prospect is scheduled to commence shortly.

ON BEHALF OF THE BOARD

"Nasim Tyab"

President

Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in those statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the contents of this news release.

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