Stylus closes previously announced non-core asset disposition



    (TSX: "STY")

    CALGARY, June 15 /CNW/ - Stylus Energy Inc. ("Stylus" or "the Company")
is pleased to announce that it has closed the previously announced disposition
of certain non-producing, non-core assets for total proceeds of $12 million,
before closing adjustments. The proceeds have been applied to outstanding bank
debt, thereby reducing the Company's current net debt to approximately
$12 million.
    In addition, an updated corporate presentation prepared for the CAPP Oil
& Gas Investment Symposium in Calgary, June 18-20, 2007, is now available on
the Stylus website at www.stylusenergy.com and will be webcast on Tuesday,
June 19, 2007 at 3:25 p.m. Mountain Standard Time.

    Stylus is a Calgary based junior oil and natural gas company with
operations in Alberta. The common shares of Stylus are listed on the Toronto
Stock Exchange and trade under the symbol "STY".

    %SEDAR: 00021888E




For further information:

For further information: Stylus Energy Inc., William F. Dyer, VP,
Finance & CFO, P: (403) 517-8790, F: (403) 517-8798, E:
bdyer@stylusenergy.com

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STYLUS ENERGY INC.

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