OCL Oracle Energy Corp

Oracle Energy Corp. ("Oracle Energy") (TSX VENTURE:OCL)(PINK
SHEETS:OECPF)(FRANKFURT:O2E) announces it has been notified by Ventum Energy LP
("Ventum") that drilling operations on the J. Vela #1 well in Zapata County,
Texas have commenced today. Ventum is the operating partner for the well.


The new well is to be located approximately 150 feet from the existing
Jonnell-Zamora #1 well and will be drilled to a depth of 8400 feet to test the
1st and 2nd Hinnant formations.


The Jonnell Gas Company Zamora #1 was drilled in April of 1961 and was completed
as a gas well from the 1st Hinnant sand. The top 10 feet of the 1st Hinnant sand
was perforated and flowed at rates up to 4 mmcfg/d. The well was never
commercially produced due to being a dry gas discovery. In 1961, no market
existed to transport dry gas.


Oracle Energy has an 18.75% interest on the 640 acres oil and gas lease in
Zapata County, Texas.


Oracle Energy has a diversified portfolio of oil and gas interests in Romania,
the USA and Italy.


ON BEHALF OF THE BOARD

Nasim Tyab, President

Some of the statements contained in this release are forward-looking statements.
Forward-looking statements include but are not limited to, statements concerning
estimates of recoverable hydrocarbons, expected hydrocarbon prices, expected
costs, statements relating to the continued advancement of the Company's
projects and other statements which are not historical facts. When used in this
document, and on other published information of the Company, the words such as
"could", "estimate", "expect", "intend", "may", "potential", "should", and
similar expressions are forward-looking statements. Although the Company
believes that its expectations reflected in the forward-looking statements are
reasonable, such statements involve risk and uncertainties and no assurance can
be given that actual results will be consistent with these forward-looking
statements. Various factors could cause actual results to differ from these
forward-looking statements including the potential that the Company's projects
will experience technical and mechanical problems, geological conditions in the
reservoir may not result in commercial level of oil and gas production, changes
in product prices and other risks not anticipated by the Company or disclosed in
the Company's published material. Since forward-looking statements address
future events and conditions, by their very nature, they involve inherent risks
and uncertainties. The information contained herein does not constitute an offer
of securities for sale in the United States, United Kingdom, Canada, Japan or
Australia.

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