Galleon completes $36 million bought deal financing



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

    CALGARY, June 23 /CNW/ - Galleon Energy Inc. ("Galleon") (TSX: GO) is
pleased to announce that it has closed its previously announced offering
("Offering") of 7,500,000 Class A shares at an issue price of $4.80 per share,
for total gross proceeds of $36 million, through an underwriting syndicate
co-led by Scotia Capital Inc. and TD Securities Inc. and including GMP
Securities L.P., Cormark Securities Inc., FirstEnergy Capital Corp. and HSBC
Securities (Canada) Inc.
    Galleon is a technically oriented oil and gas company with focused
operations in the Peace River area of Alberta. Galleon has assembled
approximately 1 million gross acres of land and has an inventory of over 1,000
drilling locations.
    Following closing of the Offering, Galleon has approximately 82.9 million
Class A Shares outstanding which trade on the TSX under the symbol "GO".


    The securities offered have not been and will not be registered under the
U.S. Securities Act of 1933, as amended, and may not be offered or sold in the
United States absent registration or applicable exemption from the
registration requirements. This press release shall not constitute an offer to
sell or the solicitation of an offer to buy nor shall there be any sale of the
securities in any jurisdiction in which such offer, solicitation or sale would
be unlawful.

    %SEDAR: 00019659E




For further information:

For further information: Galleon Energy Inc., (403) 261-6012, Steve
Sugianto, President and Chief Executive Officer; or Glenn R. Carley, Executive
Chairman; or Shivon Crabtree, VP Finance and Chief Financial Officer

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GALLEON ENERGY INC.

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