Bankers Petroleum expands credit facilities

Bankers Petroleum Ltd. ("Bankers" or the "Company")(TSX: BNK, AIM: BNK) is pleased to announce that it has formally entered into negotiations with the International Finance Corporation ("IFC") (a member of the World Bank Group), and the European Bank for Reconstruction and Development ("EBRD") for provision of a reserve-based long-term financing of up to US$110 million to fund upcoming capital requirements and working capital needs for the Company's Albanian projects. Subject to ongoing discussions with EBRD/IFC, completion of all required documentation for approval, necessary regulatory and stock exchange approvals and receipt of final approval from each of IFC, EBRD and Bankers Board of Directors, it is expected that this facility will be in place during the second quarter of 2009.

EnerGulf Update on DRC and Namibia Projects

EnerGulf Resources Inc. (TSX-V:ENG) (Frankfurt:EKS.F). EnerGulf provides the following update on its projects in the Democratic Republic of Congo ("DRC") and Namibia.

EnerGulf is pleased to announce, that it signed the Joint Operating Agreement (JOA) with COHYDRO, the national oil and gas company of the DRC, setting out the various terms of which EnerGulf, as Operator, is to manage the exploration activities on its Lotshi Block. The Lotshi Block covers approximately 475 square km of the Les Zones du Bassin Cotier in the onshore coastal salt basin of western DRC contiguous to Cabinda, Angola, and is in relatively close proximity to the offshore Cabinda, Malongo and Takula field complexes operated by Chevron; the onshore and offshore Perinco fields in DRC; and onshore M'Boundi field, operated by ENI in the Republic of Congo. COHYDRO is non-operator and has a 10% carried interest in the block.

TXCO Resources Announces Strategic Alternatives Review

TXCO Resources Inc. (Nasdaq: TXCO) today announced it has begun a strategic alternatives review designed to enhance shareholder value, which may include a merger or sale. Goldman Sachs & Company has been retained as financial advisor.

No formal decisions have been made and no agreements have been reached at this time. There can be no assurance that any particular alternative will be pursued or that any transaction will occur, or on what terms. TXCO does not expect to disclose developments from this review unless its board of directors approves a definitive transaction.

Evolution Petroleum Reports Drilling Results in the Giddings Field

Evolution Petroleum Corporation (NYSE Euronext: EPM) today reported recent drilling results for two wells in the Giddings Field in central Texas.

In mid-January, the Company completed the Hilton-Yegua #1RE as a re-entry into an existing well in the Burleson County area of the Giddings Field. The re-entry included drilling a new vertical section from 3,000' depth to a total vertical depth of 10,500' and then drilling a new horizontal leg of 3,000' within the Austin Chalk Formation. On its first full day of production, the Hilton flowed approximately 4.0 million cubic feet per day ("MMCFD") of rich natural gas with 237 barrels of oil and condensate ("BOPD").