Benchmark Energy Corp. announces filing of reserves data and annual financial information and provides update regarding proprietary well enhancement technology for Colombia



    /THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR TO
    ANY UNITED STATES NEWS SERVICES/

    CALGARY, Oct. 29 /CNW/ - Benchmark Energy Corp. ("Benchmark" or the
"Company" - TSX Venture: BEE) wishes to announce that it has filed its
statement of reserves data under National Instrument NI 51-101 Forms F1, F2
and F3, the report of its independent qualified reserves evaluator and the
related report of management and directors with the appropriate securities
regulatory authorities in Canada. This information can be viewed under the
Corporation's SEDAR profile at www.sedar.com. The Corporation has also filed
its audited consolidated financial statements for the year ended June 30, 2007
and the accompanying management's discussion and analysis. This information
can also be viewed under the Corporation's SEDAR profile at www.sedar.com.
    Additionally, Benchmark is pleased to report that, further to the Company
news release of February 14, 2007, the proprietary well performance
enhancement technology for Colombia is now ready and complete, and will
shortly be transported to Colombia from Houston via ocean-going barge.
Benchmark secured the preferential right for the technology for Colombia
through a Cooperation Agreement with Dominion Oil (USA) Corporation of Spring,
Texas.
    Benchmark also reports that further to the Company news releases of
August 14 and September 21, 2007, it has completed its formal due diligence on
the Azar Block in the Putumayo Basin of Colombia, and has decided to not
proceed with this acquisition.
    Elsewhere in Colombia, the Company continues its negotiations and due
diligence on a number of acquisition and farm-in opportunities that have been
presented to Benchmark. And in Argentina, the Company is actively working on
the possible purchase of a mature, producing field; further information will
be provided when available.

    Benchmark is a junior Canadian oil and gas exploration Company, focused
internationally.

    This news release shall not constitute an offer to sell or the
solicitation of any offer to buy the securities in any jurisdiction.

    Certain information regarding Benchmark contained herein may constitute
forward-looking statements within the meaning of applicable securities laws.
Forward-looking statements may include estimates, plans, anticipations,
expectations, opinions, forecasts, projections, guidance or other similar
statements that are not statements of fact.
    Although Benchmark believes that the expectations reflected in such
forward-looking statements are reasonable, it can give no assurance that such
expectations will prove to be correct. These statements are subject to certain
risks and uncertainties and may be based on assumptions that could cause
actual results to differ materially from those anticipated or implied in the
forward-looking statements. Benchmark's forward-looking statements are
expressly qualified in their entirety by this cautionary statement.

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





For further information:

For further information: Benchmark Energy Corp., David R. Robinson,
President, Phone: (403) 802-0770, Fax: (403) 266-5732, E-Mail:
drr@benchmarkenergy.com

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BENCHMARK ENERGY CORP.

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