Berkana Provides Transaction Update



    TSX: BEC

    CALGARY, Nov. 19 /CNW/ - Berkana today confirmed that the previously
announced process to permit Murphy Oil Canada to dispose of its 80% block in
Berkana is continuing. Several companies have expressed interest and exclusive
negotiations are currently underway with one of those parties. It is premature
to make any announcement regarding a transaction at this time as negotiations
are not complete. No assurance can be given that the current negotiations will
result in the completion of a transaction. No assurance can be given regarding
the level of consideration which may be offered to shareholders.

    This news release contains statements regarding the potential sale of
shares of Berkana by Murphy Oil Canada, the possibility of a transaction
involving all of the outstanding shares of Berkana and other statements that
are not historical facts. Such forward looking statements are subject to
inherent risks, uncertainties and assumptions. The results or events predicted
in these forward-looking statements may differ materially from actual results
or events. As a result, you are cautioned not to place undue reliance on these
forward-looking statements.

    The forward-looking statements contained in this news release are made as
of the date of this release. We disclaim any intention and assume no
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise. Additionally, we
undertake no obligation to comment on expectations of, or statements made by,
third parties in respect of the potential transactions.

    THE TORONTO STOCK EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE
    ADEQUACY OR ACCURACY OF THIS RELEASE.

    %SEDAR: 00002141E




For further information:

For further information: Glenn Gradeen, CEO, ggradeen@berkanaenergy.com;
Robb Thompson, CFO, rthompson@berkanaenergy.com; Berkana Energy Corp., Suite
2100, 801 Sixth Avenue S.W., Calgary, Alberta, T2P 3W2, Telephone: (403)
221-7700, Fax: (403) 221-7719, Website: www.berkanaenergy.com

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BERKANA ENERGY CORP.

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