Zapata Energy Corporation
TSX VENTURE : ZCO

Zapata Energy Corporation

April 29, 2008 08:00 ET

Zapata Announces Successful Tests on Q1-2008 Drills

CALGARY, ALBERTA--(Marketwire - April 29, 2008) - Zapata Energy Corporation (TSX VENTURE:ZCO) is pleased to report on significant test results for wells drilled in the first quarter.

Zapata participated in two (one net) deep wells which tested at a combined rate of 5.8 mmcf/d of natural gas with an average of 37 bbls of natural gas liquids ("NGL") per mmcf. Zapata drilled an additional three (three net) wells in its core areas which were tested from multiple zones at a combined rate in excess of 7.0 mmcf/d of natural gas and 25 bbls/d of crude oil.

Once these wells are tied in, Zapata anticipates that approximately 500 boe/d will be added to its production base by mid May 2008.

George Paulus will be presenting on behalf of Zapata at the COPIC Producers' Conference in Toronto at 9:30 AM Eastern Standard Time (7:30 AM MST) on Wednesday, April 30, 2008. The presentation will be webcast live via Canada Newswire. Tune in to the presentation by visiting our website at www.zapata.ca.

Zapata is a junior oil and gas production company operating in western Canada and trades on the TSX Venture Exchange under the symbol "ZCO."

This press release may include forward-looking statements which are statements other than of historical fact, such as information regarding drilling potential and production forecasts. Factors that could cause actual results to differ materially from our expectations include exploration and development risks, commodity prices and operating hazards. A barrel of oil equivalent (boe), derived by converting gas to oil in the ratio of six thousand cubic feet of gas to one barrel of oil, may be misleading, particularly if used in isolation. A boe conversion is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

The TSX Venture Exchange has neither approved nor disapproved of the information contained herein.

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