SOURCE: Radial Energy Inc.

March 21, 2007 09:00 ET

Radial Energy Reaches Total Depth at Huaya 100-1X Well in Peru

HOUSTON, TX -- (MARKET WIRE) -- March 21, 2007 -- Radial Energy Inc. (OTCBB: RENG) ("Radial" or the "Company") is pleased to announce that the Huaya 100-1X well reached final total depth of 926 feet on March 17 th, and was logged by Schlumberger on March 18th.

According to the Operator, CCP, the well encountered the primary target Vivian Sandstone at 807 feet (318 feet below sea level). The operator reports that an oil bearing zone has been identified in an interval within the Vivian from 807 to 821 feet, indicating 14 feet of net pay. The operator has reported strong, flowing, bright yellow oil fluorescence in the drilling mud, a gas show of 120 parts per million (ppm) over background gas of 10 ppm, and neutron-density logs interpretation indicating hydrocarbons in very good sandstones reservoir with high porosity of 28 to 33 %.

The oil water contact in the Huaya 100-1X well, as determined from the shows and log interpretation, correlates to the oil-water contact in the offset Huaya 4X discovery well which production tested 39 gravity oil, indicating reservoir communication between the two wells. 7-inch casing has been set to 425 feet and cemented in place. The operator plans to run in with smaller diameter casing to total depth and production test the well as soon as practicable.

The Operator is currently preparing the site for the next well, the Huaya 100-2X, and preparing to move the drilling rig and equipment to the site, in order to spud that well within 30 days.

According to Radial CEO, G. Leigh Lyons, "We are very pleased that the results of this well indicate that the oil and reservoir conditions encountered in the Huaya 4X well are present in the Huaya 100-1X well, and that we are gaining structure on the high. We are currently integrating all of the technical information from this new well, and it appears that the apex of the structure is likely to be found more to the north than previously mapped. If so, this would put our next well, the Huaya 100-2X, in an optimum position to gain additional structure." adding, "Our plan has always been, and will continue to be, to drill development wells working our way to the sweet spot of the reservoir and the apex of the structure."

About Radial Energy Inc. (OTCBB: RENG)

Radial Energy identifies, acquires, and develops low risk oil and natural gas exploration and development opportunities throughout the Americas. The Company's innovative strategy involves targeting overlooked or under-developed reserves that are under the radar of multinational oil companies and out of the reach of small independents.

The Company targets prospective oil and natural gas opportunities in historically productive regions with a focus on identifying previously drilled but undeveloped exploratory wells that, due to factors at the time of initial drilling including the absence of pipeline infrastructure, lack of modern recovery technology, poor geological or engineering interpretation or low oil and gas prices, were not fully exploited.

Radial Energy is led by a highly motivated team of industry veterans with proven expertise in North, Central and South American oil and natural gas development. Bolstered by first-rate management, farsighted acquisitions, the speed and agility to take advantage of changing market conditions, a firm commitment to building value for shareholders and the growing demand for energy worldwide, Radial Energy is taking maximum advantage of a tremendous opportunity to develop overlooked and under-developed oil and gas reserves in North and South America.

Forward-Looking Statements

Except for statements of historical fact, the information presented herein contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include the statements regarding the Company's expectations, hopes or intentions regarding the future. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include the ability to successfully drill and complete wells such as the Huaya 100-1X well, general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund future operations, and changes in consumer and business consumption habits and other factors over which Radial Energy Inc. has little or no control.

Radial Energy Inc.
G. Leigh Lyons, President

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