Columbus Energy Sells Australian Royalty, Cancels Options

Columbus Energy Limited ("Columbus Energy" or the "Company") (TSX VENTURE:CEL)
announces that it has sold its 2% royalty interest in the Blina oil field in
northwest Australia to Buru Energy of Perth, Australia for $25,000.


The royalty interest was granted to Columbus Energy in partial consideration for
its sale of Terratek to ARC Energy Limited in 2007.


Upon the close of this transaction, Columbus Energy will have divested itself of
all of its Australian assets and interests.


Columbus Energy also announces that its Vignate license application for gas and
oil exploration in the Po Valley of Italy was denied by the Italian government.
The Company will write off $120,000 in capitalized expenses relating to this
application on its December 31, 2008 financial statements.


Columbus Energy also wishes to announce the cancellation of 2,541,667 options
granted to officers and directors.

Columbus Energy Limited (TSXV:CEL)
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