Qeva Group Inc.

Qeva Group Inc.

September 02, 2005 14:07 ET

Qeva Group and Sun Energy Group Agreement

CALGARY, ALBERTA--(CCNMatthews - Sept. 2, 2005) - Qeva Group Inc. ("Qeva") announces that it has finalized an agreement with Sun Energy Group Inc. ("Sun Energy") whereby Sun Energy will subscribe for 3,453,333 common shares of Qeva for an aggregate issue price of $345,333. The purchase price will be satisfied by the payment of $300,000 cash and the transfer of interest in the Alliance Agreement between Sun Energy and TGS-NOPEC Geophysical Company ASA. The private placement was the result of on-going negotiations between Sun Energy and Qeva since March of 2005.

The acquisition is a related party transaction as Qeva and Sun Energy have common directors.

Qeva will use the proceeds of the private placement to search for North Sea opportunities. Access to the Alliance Agreement allows Qeva to review previously shot North Sea seismic without any up front costs.

The private placement shares will be subject to a 4-month resale restriction.

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