Calvalley Petroleum - Appointment of President



    CALGARY, June 2 /CNW/ - Calvalley Petroleum Inc. (TSX: CVI.A)
    Mr. Edmund M. Shimoon, Chairman and Chief Executive Officer of Calvalley
Petroleum Inc., is pleased to announce the appointment of Mr. Memet Kont as
President and Chief Operating Officer. Mr. Kont joined Calvalley in April,
2008 as the Chief Operating Officer. During the past year, his performance has
resulted in increasing levels of responsibility in all aspects of the
company's business. Mr. Kont has over 15 years of international oil and gas
industry experience, spanning a range of exploration, development, reserves
evaluation, capital markets, and new business generation activities through
his positions at UBS Securities, Jennings Capital, McDaniel and Associates,
and Geological Survey of Canada.
    Mr. Kont is a dually registered professional Engineer and professional
Geologist with APEGGA and holds a M.Sc. from Oklahoma State University and an
MBA from the University of Calgary.
    Mr Shimoon will continue in his present roles of Chairman and Chief
Executive Officer of Calvalley and will focus on the Company's business
development initiatives.

    Calvalley Petroleum Inc.

    Calvalley Petroleum is an international oil and gas company based in
Calgary, Alberta. The Company operates its 50% working interest in Block 9 in
the Masila Basin of the Republic of Yemen and 100% working interest in the
Gimbi and Metema Blocks in Ethiopia.

    Forward-Looking Statements

    This press release may contain forward-looking statements including,
without limitation, financial and business prospects and financial outlooks,
and such statements may be forward-looking statements which reflect
management's expectations regarding future plans and intentions, growth,
results of operations, performance and business prospects and opportunities.
Words such as "may", "will", "should", "could", "anticipate", "believe",
"expect", "intend", "plan", "potential", "continue", and similar expressions
have been used to identify these forward-looking statements. These statements
reflect management's current beliefs and are based on information currently
available to management. Forward-looking statements involve significant risk
and uncertainties. A number of factors could cause actual results to differ
materially from the results discussed in the forward-looking statements
including, but not limited to, changes in general economic and market
conditions and other risk factors. Although the forward-looking statements
contained herein are based upon what management believes to be reasonable
assumptions, management cannot assure that actual results will be consistent
with these forward-looking statements. Investors should not place undue
reliance on forward-looking statements. These forward-looking statements are
made as of the date hereof.
    Forward-looking statements and other information contained herein
concerning the oil and gas industry and Calvalley's general expectations
concerning this industry are based on estimates prepared by management using
data from publicly available industry sources as well as from reserve reports,
market research and industry analysis and on assumptions based on data and
knowledge of this industry which Calvalley believes to be reasonable. However,
this data is inherently imprecise, although generally indicative of relative
market positions, market shares and performance characteristics. While
Calvalley is not aware of any misstatements regarding any industry data
presented herein, the industry involves risks and uncertainties and is subject
to change based on various factors.

    %SEDAR: 00001745E




For further information:

For further information: investorrelations@calvalleypetroleum.com;
Edmund Shimoon, Chairman and CEO; Memet Kont, President and COO; Bill Cummins,
CFO, (403) 297-0490

Organization Profile

Calvalley Petroleum Inc.

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