Albion Announces $450,000 Financing

ALBION PETROLEUM LTD. ("Albion") (NEX BOARD:ABP.H) is pleased to announce that
it intends to complete a non-brokered private placement of up to 6,000,000
common shares of Albion issued at a price of $0.075 per share for gross proceeds
of up to $450,000. A finder's fee of up to 8% of the gross proceeds of the
private placement may be paid on all or any portion of this private placement.
Proceeds of the private placement will be used to identify and evaluate
qualifying transactions and for general working capital.


It is not anticipated that any new insiders will be created, nor that any change
of control will occur, as a result of the private placement. Completion of the
private placement is subject to approval from the NEX Board.


Certain information in this press release may contain forward-looking
statements. This information is based on current expectations that are subject
to significant risks and uncertainties that are difficult to predict. Actual
results might differ materially from results suggested in any forward-looking
statements. Albion assumes no obligation to update the forward-looking
statements, or to update the reasons why actual results could differ from those
reflected in the forward looking-statements unless and until required by
securities laws applicable to Albion. Additional information identifying risks
and uncertainties is contained in certain of Albion's filings with the Canadian
securities regulators, which filings are available at www.sedar.com.

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