Texalta Petroleum Ltd.

Texalta Petroleum Ltd.

April 15, 2009 07:30 ET

Texalta Enters Into Consulting Services Agreement

CALGARY, ALBERTA--(Marketwire - April 15, 2009) - Texalta Petroleum Ltd. ("Texalta") (TSX VENTURE:TEX.A) reports that it has, subject to approval by the TSX Venture Exchange (TSX-V), retained Mr. Dwane Brosseau as a consultant to provide strategic marketing and corporate communications on behalf of the Corporation. Mr. Brosseau will assist the Company in gaining exposure to investors through the dissemination of corporate information to a network of brokerage firms, financial institutions and private investors. This initiative reinforces the Company's commitment to improve communications and information flow to its shareholders and the investment community with respect to the focused exploration and development of its Saskatchewan, Canada and Georgina Basin Australia project areas.

Mr. Brosseau has over 13 years of financing experience in venture capital, institutional investing and wealth management. During that time he has worked closely with private high-net worth individuals and institutional investors in North America.

Mr. Brosseau has provided a variety of expertise and services to companies such as Orient Venture Capital I and II Inc., Asia Select Investment Fund, Currie Rose Resources Inc., Rolling Rock Resources Corp., Everton Resources Inc., Merrill Lynch and RBC Dominion Securities Inc. Mr. Brosseau has a Bachelor of Commerce degree from St. Mary's University in Halifax.

Under the terms of the 12 month agreement dated April 15, 2009, Texalta will pay Mr. Brosseau C$3,500 per month the first three months and C$5,000 per month thereafter and grant 200,000 stock options at an exercise price of C$0.28. The options will vest 50,000 per quarter and will expire 30 days subsequent to termination of the Agreement.

TEX.A is a Calgary based company engaged in the exploration, acquisition and development of prospective oil & gas properties in Saskatchewan and Alberta, Canada. The company's wholly owned subsidiary, Texalta Australia Pty. Ltd. holds 82 percent working interest in two exploration permits covering in excess of 5.5 million acres of prospective land in the Georgina Basin, Northern Territory, Australia.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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