Warrior Energy N.V.
TSX VENTURE : WEN

Warrior Energy N.V.

November 10, 2008 20:27 ET

Warrior Energy N.V. Enters into Agreement to Sell Garrington Assets for $3.7 Million

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 10, 2008) - Warrior Energy N.V. ("Warrior") (TSX VENTURE:WEN) announces that it has entered into a letter of intent to sell its Garrington area petroleum and natural gas assets to an arms length party ("Purchaser"), for Cdn$3.7 million, payable in cash at closing. Warrior's Garrington assets include a producing well and mineral rights to certain petroleum and natural gas substances within a one section area. Warrior's working interest in the property and producing well, the Garrington 6-6-35-2W5, is 90%. Warrior's share of gross production before royalties from Garrington averaged approximately 73 barrels of oil equivalent per day ("BOE") during the most recent quarter of 2008. The transaction is subject to regulatory approval and closing conditions precedent. No finder's fee is payable in connection with this transaction. The closing date of the transaction is scheduled for November 15, 2008.

The disclosure regarding BOE uses a conversion ratio of six thousand cubic feet of natural gas to one barrel of oil and one barrel of natural gas liquids to one barrel of oil. Note that BOEs may be misleading, particularly if used in isolation. A BOE conversion ratio of six thousand cubic feet of gas to one barrel of oil is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

Warrior intends to use the proceeds of the transaction to fund future oil and gas exploration programs and for general working capital.

About Warrior Energy N.V.

Warrior is an emerging junior oil and exploration and production company primarily focused on identifying and exploiting large-scale natural gas opportunities.

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

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