Action Energy Inc. (AEC - TSX Venture Exchange) Announces $12 Million Bought Deal Financing



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    CALGARY, April 11 /CNW/ - Action Energy Inc. ("Action") announced today
that it has reached an agreement with a syndicate lead by Wellington West
Capital Markets Inc. and including BMO Capital Markets, Dundee Securities
Corporation and Jennings Capital Inc. to raise $12,008,000 on a bought-deal
private placement basis.
    The financing will consist of the placement of 3,160,000 flow-through
shares at a price of $3.80 per share. The syndicate will also have the option
to purchase an additional 790,000 flow-through shares at a price of $3.80
until 24 hours prior to the closing of the financing.
    The financing is subject to normal regulatory approvals, including
approval of the TSX Venture Exchange and is expected to close on or about
May 1, 2007.
    Action intends to use the proceeds from the financing to fund its
exploration program for 2007.

    Action Energy Inc. is a Calgary-based junior resource company engaged in
the exploration, development and production of natural gas and oil in Alberta
and Saskatchewan.
    Action has approximately 25,895,171 Common Shares issued and outstanding
which trade on the TSX Venture Exchange under the symbol "AEC".

    The securities being offered have not been, nor will they be, registered
under the United States Securities Act of 1993, as amended, and may not be
offered or sold in the United States or to, or for the account or benefit of
U.S. persons absent registration or an applicable exemption from registration
requirements. This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the securities
in any state in which such offer, solicitation or sale would be unlawful.

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

    %SEDAR: 00001728E




For further information:

For further information: Roger Tang, Chairman and CEO, Action Energy
Inc., Telephone: (403) 264-1112, Facsimile: (403) 264-1116, Website:
www.action-energy.com; R.D. (Bob) Bowman, President & COO, Action Energy Inc.,
Telephone: (403) 264-1112, Facsimile: (403) 264-1116, Website:
www.action-energy.com

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