Qeva Group Inc.

Qeva Group Inc.

September 21, 2005 12:44 ET

Qeva Closes Private Placement with Sun Energy Group Inc.

CALGARY, ALBERTA--(CCNMatthews - Sept. 21, 2005) - The Board of Directors of Qeva Group announces the closing of a Private Placement of 3,453,333 shares valued at $0.10 per share with Sun Energy Group Inc. The payment terms of the private placement were $300,000 cash and the entire interest in a Seismic Alliance agreement dated October 21, 2004 between Sun Energy Group Inc. and TGS NOPEC Geophysical Company ASA "TGS"). The Seismic Alliance Agreement will offer QEVA no upfront costs to access 3D long offset seismic data shot in the North Sea by TGS. TGS will earn compensation in the form of an ORRI for their data once QEVA brings the block into production. The Private Placement was the result of on-going negotiations between Sun Energy Group and Qeva since March of 2005.

The monies will be used by Qeva to cover off upcoming G & A costs in their pursuit for North Sea opportunities and for working capital. The private placement shares will be subject to a 4-month resale restriction.

QEVA announces that it has issued 325,000 shares at $0.10 per share to Robert Pek, a director. These shares were issued for services provided during the restructuring of Qeva.

QEVA has issued 300,000 shares at $0.15 per share to Shiraz Dhanani, a director who was appointed on August 01, 2005. These shares were for consulting services.

Further to the announcement in the May 16, 2005 news release, Qeva has terminated the March 31, 2005 offer to purchase 90% of Young West Resources Working Interests at TWP 24 R 23 W3M West Forgan, Saskatchewan.

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