Contact Announces Seismic Acquisition Commencement in South Stoney Creek, New Brunswick

2008-07-21 08:20:00

Contact Announces Seismic Acquisition Commencement in South Stoney Creek, New Brunswick

CALGARY, ALBERTA–(EMWNews – July 21, 2008) – Contact Exploration Inc. (“Contact”) (TSX VENTURE:CEX) is pleased to announce that seismic acquisition has commenced in the South Stoney Creek area of New Brunswick to further define the deep Beech Hill shale prospect.

Triangle Petroleum Limited (“Triangle”), which operates the deep Beech Hill shale block in New Brunswick as part of the earning process from Contact, has commenced seismic acquisition activities in the South Stoney Creek area as part of the effort to delineate the prospect. The Beech Hill shale block is the deep shale horizon of the South Stoney Creek area. South Stoney Creek is a 68,000 acre area located directly to the south and east of Contact’s producing 5,500 acre Stoney Creek field. Contact’s expenditures are carried by Triangle for the seismic and through the drilling of the first well. This seismic data will not only help to define the deeper shale formations, but may also shed light on the shallow exploration targets in the area. Approximately 30 kilometres of 2-D seismic will be acquired and processed in this current phase of the project. This project is being done concurrently with the drilling program in the Windsor Shale block, where drilling has commenced as disclosed in our release of July 14, 2008.

About Contact Exploration Inc.

Contact Exploration Inc. is a junior exploration company with a focus on Canadian East Coast onshore conventional exploration, shale gas exploration & oil production. Contact’s holdings and operations are located in close proximity to one of the world’s largest consumption markets, near strong pipeline and refining infrastructure and in mature jurisdictions with reasonable royalty structures in place.

Contact’s philosophy is to operate production and exploration in our core area of Atlantic Canada, and to participate in unconventional shale gas exploration, such as the Windsor Shale Block in Nova Scotia and the Beech Hill Shale Prospect in New Brunswick (both of which prospects were generated by Contact).

Contact has onshore interests in approximately 700,000 acres in Nova Scotia, approximately 70,000 acres in west Newfoundland and 165,000 acres in New Brunswick which includes the Stoney Creek Field (approximately 5,500 acres), a field with estimated proved and probable reserves of 1.2 million barrels of oil and 6.5 bcf of natural gas. In addition to the Atlantic Canadian properties, Contact has producing oil assets in south eastern Saskatchewan.

Certain statements contained herein may constitute forward-looking statements. These statements relate to future events or our future performance. All statements other than statements of historical fact may be forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. We believe that the expectations reflected in the forward-looking statements are reasonable based upon management’s current views but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon. These statements speak only as of the date hereof. We do not intend, and do not assume any obligation, to update conclusions, forecasts or projections that may be contained in these forward-looking statements, whether as a result of new information, future events or otherwise. No assurance can be given that actual results, performance or achievement expressed in, or implied by these forward-looking statements will occur, or if they do, that any benefits may be derived from them. Past results have been applied in drawing a conclusion or making a forecast or projection set out in the forward-looking information.

Our actual results could differ materially from those anticipated in these forward-looking statements as a result of factors that may include, but are not limited to: the impact of government regulation, potential delays or changes in plans with respect to exploration and development projects, success of exploration and development activities, general industry and market conditions and other risks detailed from time to time in Contact’s Annual Information Form and Management’s Discussion and Analysis, both of which may be found at www.sedar.com.

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

For more information, please contact

Contact Exploration Inc.
Darcy Spady
President and CEO
(403) 234-8663
Email: dspady@contactexp.com
Website: www.contactexp.com

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