Galleon closes $30 million financing



    /NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
    DISSEMINATION IN THE UNITED STATES/

    CALGARY, April 19 /CNW/ - Galleon Energy Inc. ("Galleon") announces that
it has closed the previously announced financing of 1,481,500 Class A Shares
issued on a "flow-through" basis (the "Flow-Through Shares") at $20.25 per
share for gross proceeds of approximately $30 million.
    The underwriting syndicate was led by GMP Securities L.P., and included
Cormark Securities Inc., Scotia Capital Inc., TD Securities Inc., FirstEnergy
Capital Corp., and Maison Placements Canada Inc.
    The proceeds from the issuance of the Flow-Through Shares will be used to
incur eligible Canadian exploration expenses which will be renounced in favour
of subscribers of the Flow-Through Shares effective on or before December 31,
2007.
    After giving effect to the equity issuance, Galleon has approximately
59.4 million Class A shares and 922,500 Class B shares issued and outstanding
which trade on the TSX under the symbols "GO.A" and "GO.B".

    Galleon is a technically oriented high growth oil and gas company with
focused operations in the Peace River area of Alberta. Galleon commenced
operations in October 2003 and has had significant success in acquiring
undeveloped acreage, drilling and purchasing production. Land access currently
exceeds 1 million gross acres.

    The Class A Shares issued have not been registered under the United
States Securities Act of 1933, as amended, and may not be offered or sold in
the United States, or to a U.S. person, absent registration, or an applicable
exemption therefrom.

    ADVISORY: Certain information regarding Galleon Energy Inc. in this news
release including management's assessment of future plans and operations, and
capital expenditures and the timing thereof, may constitute forward-looking
statements under applicable securities laws and necessarily involve risks
including, without limitation, risks associated with oil and gas exploration,
development, exploitation, production, marketing and transportation, loss of
markets, volatility of commodity prices, currency fluctuations, imprecision of
reserve estimates, environmental risks, competition from other producers,
inability to retain drilling rigs and other services, delays resulting from or
inability to obtain required regulatory approvals and ability to access
sufficient capital from internal and external sources. As a consequence,
actual results may differ materially from those anticipated in the
forward-looking statements. Readers are cautioned that the foregoing list of
factors is not exhaustive. Additional information on these and other factors
that could affect Galleon's operations and financial results are included in
reports on file with Canadian securities regulatory authorities and may be
accessed through the SEDAR website (www.sedar.com), at Galleon's website
(www.galleonenergy.com). Furthermore, the forward-looking statements contained
in this news release are made as at the date of this news release and Galleon
does not undertake any obligation to update publicly or to revise any of the
included forward-looking statements, whether as a result of new information,
future events or otherwise, except as may be required by applicable securities
laws.




For further information:

For further information: See www.galleonenergy.com or contact Steve
Sugianto, President and Chief Executive Officer, (403) 261-9287,
steves@galleonenergy.com; Glenn R. Carley, Executive Chairman, (403) 261-9277,
glennc@galleonenergy.com; Shivon Crabtree, Vice President and Chief Financial
Officer, (403) 261-9276

Organization Profile

GALLEON ENERGY INC.

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