Oracle Energy Corp.

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.


"Nasim Tyab"


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