King Energy Inc.

March 28, 2006 18:00 ET

Vanquish Oil & Gas Corporation Extends Offer for King Energy Shares

CALGARY, ALBERTA--(CCNMatthews - March 28, 2006) - King Energy Inc. (TSX VENTURE:KNG) ("King") announces that Vanquish Oil & Gas Corporation ("Vanquish") has mailed a notice of extension and variation of its previously mailed cash offer (the "Offer") to the King shareholders to acquire by way of takeover bid all of the outstanding common shares of King (the "King Shares"). As of the last report from the depositary under the Offer, 83.82% of the outstanding King Shares had been tendered to the Offer. The minimum condition under the Offer is 90% of the issued and outstanding King Shares. The revised offer will now be open for acceptance until April 7, 2006.

The extension will provide King shareholders additional time to tender the remaining King Shares.

King Energy Inc. is a Calgary-based emerging oil and natural gas company engaged in the development, acquisition and production of natural gas and oil reserves in Alberta. King's common shares trade on the TSX Venture Exchange under the symbol KNG.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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