Angle Energy announces filing of Preliminary Prospectus



    /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN
    THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY
    CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW./

    CALGARY, June 2 /CNW/ - Angle Energy Inc. ("Angle") is pleased to
announce that it has filed a preliminary prospectus in the provinces of
British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Nova Scotia, New
Brunswick, Prince Edward Island, Newfoundland and Labrador in connection with
an initial public offering of its common shares. The offering is expected to
close on or about June 30, 2008 and is subject to certain conditions,
including but not limited to a receipt of all necessary securities regulatory
approvals. A copy of the prospectus can be accessed through SEDAR at
www.sedar.com.
    The IPO is being led by GMP Securities LP on behalf of a syndicate of
underwriters that include Tristone Capital Inc., BMO Nesbitt Burns Inc. and
FirstEnergy Capital Corp.
    Angle is a Calgary based oil and gas exploration and development company
that was incorporated in 2004 and commenced active oil and gas operations in
2005. Angle's proven and dedicated team of industry specialists are focused on
identifying and developing high quality assets in the Western Canadian
Sedimentary Basin, with an emphasis in west central Alberta.

    Canadian Disclaimer

    Preliminary prospectus containing important information relating to these
securities has been filed with securities commission or similar authorities in
certain jurisdiction of Canada. The preliminary prospectus is still subject to
completion or amendment. Copies of the preliminary prospectus may be obtained
from Mr. Stuart Symon of Angle. There will not be any sale or any acceptance
of an offer to buy the common shares of Angle Energy until a receipt for the
final prospectus has been issued.

    US Disclaimer

    This press release is not an offer to sell or a solicitation of an offer
to buy securities. The Common Shares of Angle Energy Inc. have not been and
will not be registered under the United States Securities Act of 1933, as
amended, and may not be offered or sold in the United States absent
registration or an exemption from registration.

    Forward Looking Statements

    This release contains forward-looking statements made as of the date of
this press release regarding expectations of completion and timing of an
initial public offering of the Angle common shares. These statements are based
on current expectations and assumptions that involve a number of risks and
uncertainties, which could cause actual results to differ from those
anticipated. These risks include, but are not limited to: the risks associated
with the public markets, oil and gas industry, commodity prices, operational
risks in development, exploration and production, delays or changes in plans
with respect to exploration or development projects or capital expenditures,
the uncertainty of reserve estimates, the uncertainty relating to production
costs and health, safety and environmental risk. Based on these risks and
uncertainties, readers should not place undue reliance on these forward
looking statements. Other than as required by law, Angle undertakes no
obligation to update these statements.




For further information:

For further information: D. Gregg Fischbuch, President & Chief Executive
Officer; Stuart C. Symon, Vice President Finance & Chief Financial Officer;
Heather Christie-Burns, Vice President Engineering & Chief Operating Officer;
Suite 700, 324 Eighth Avenue SW, Calgary, Alberta, T2P 2Z2, Phone: (403)
263-4534, Fax: (403) 263-4179, Website: www.angleenergy.com

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Angle Energy Inc.

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