Zapata Energy Corporation
TSX VENTURE : ZCO

Zapata Energy Corporation

April 23, 2008 09:00 ET

Zapata Releases Year End Reports

CALGARY, ALBERTA--(Marketwire - April 23, 2008) - Zapata Energy Corporation (TSX VENTURE:ZCO) serves notice that it has filed with the securities commissions the following reports for the year ended December 31, 2007 - 2007 Annual Report, comprised of the Management's Discussion and Analysis ("MD&A") and financial statements for the year 2007; Annual Information Form ("AIF"); and Zapata's Statement of Reserves Data and Other Oil & Gas Information, a compilation of the National Instrument 51-101 ("NI 51-101") reporting requirements which include Forms 51-101F1, 51-101F2 and 51-101F3. These reports can be viewed and downloaded from www.sedar.com and the Corporation's website www.zapata.ca.

Zapata's annual and special meeting of shareholders will be held on Wednesday, June 4, 2008, 3:00 PM, at the Calgary Petroleum Club, 319-5th Avenue, SW, Calgary, Alberta. Those interested in attending the meeting are encouraged to contact Zapata by email invest@zapata.ca or by calling (403) 261-7355.

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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