King Energy Inc.

April 11, 2006 11:00 ET

Vanquish Oil & Gas Corporation Takes up King Energy Shares

CALGARY, ALBERTA--(CCNMatthews - April 11, 2006) - King Energy Inc. ("King") (TSX VENTURE:KNG) announces that Vanquish Oil & Gas Corporation ("Vanquish") has taken up an aggregate 8,441,851 common shares of King pursuant to its 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 expiry of the Offer, 95% of the outstanding King Shares had been tendered to the Offer. The minimum condition under the Offer was 90% of the issued and outstanding King Shares.

The payment for the shares taken up is expected to occur on or before Wednesday, April 12, 2006.

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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