Vital Resources Negotiating to Commence Drilling Argao



    CALGARY, April 24 /CNW/ - Vital Resources Corp. ("Vital") (CNQ Exchange -
VITL; Frankfurt Stock Exchange - VZN) is pleased to announce that it has
entered in to discussions with Otto Energy (OEL-ASX) to commence drilling its
Argao prospect in the Philippines before year end. Drilling will depend on the
availability of a seismic vessel and a rig. Argao, or SC 51, is believed to
contain at least 100 million barrels of oil equivalent (MMBOE).
    "Having production from both SC 50 Calauit and SC 51 Argao in early 2008
would put Vital on the map," said Michael Whitehead, President and CEO of
Vital Resources.
    Vital Resources is an emerging oil & gas company focused on building
value through immediate offshore oil development of its world-class
exploration properties in the Philippines.

    SC 51 - East Visayan Basin

    Vital acquired the exploratory block in SC51, which consists of two
sub-blocks over the East Visayan Basin. The southern block contains seven
identified prospects of which three are drill ready, with a combined potential
of 75 to 465 MMBOE as estimated by MBA Petroleum Consultants of Australia.

    SC 50 - Calauit, NW Palawan

    Vital has made arrangements to take delivery of a Multi Purpose Semi
Submersible Rig in late 2007. This will allow Vital to take action on their
detailed well planning and design for the drilling of the horizontal re-entry
of Calauit 1B in SC50. Calauit's history of production, in concert with
independent expert MBA Petroleum Consultants, has determined that the Calauit
1B oil field may contain up to 39.5 million barrels of oil (MMBO), of which
6.44 MMBO are deemed to be recoverable.

    SC 55 - Ultra Deep Water, Palawan

    Vital shot 400 kilometers of 2D seismic under this program in October of
2006 and expects the interpretation of this seismic data to be completed in
Q1 2007. The current focus on SC 55 is on the Marantao prospect, a carbonate
reef build up of substantial size, interpreted through reprocessed 2D seismic
to be potentially five times larger than the Malampaya structure. The
Malampaya structure is the Philippines largest oil and gas field, presently
operated by Shell and estimated by the Department of Energy of the Philippines
to contain 500 to 750 MMBO or 2.5 to 4.0 trillion cubic feet (TCF) of
recoverable gas.

    Recoverable reserves estimates herein are not in accordance with COGE
Handbook and should not be relied on. Certain information set forth in this
document, including management's assessment of the future plans and operations
of Vital, contains forward looking statements. By their nature, forward
looking statements are subject to numerous risks and uncertainties, some of
which are beyond Vital's control, including the impact of general economic
conditions, industry conditions, volatility of commodity prices, currency
fluctuations, imprecision of reserve estimates, environmental risks,
competition from other industry participants, the lack of availability of
qualified personnel or management, stock market volatility and the ability to
access sufficient capital from internal and external sources. Readers are
cautioned that the assumptions used in the preparation of such information,
although considered reasonable at the time of preparation, may prove to be
imprecise and, as such, undue reliance should not be placed on forward looking
statements. The actual results, performance or achievement of Vital could
differ materially from those expressed in, or implied by, these forward
looking statements and, accordingly, no assurances can be given that any of
the events anticipated by the forward looking statements will transpire or
occur, or if any of them do so, what benefits that Vital will derive there
from. Vital disclaims any intention or obligation to update or revise any
forward looking statements, whether as a result of new information, future
events or otherwise.

    %SEDAR: 00022969E




For further information:

For further information: Vital Resources Corp., Kevin Worth, Investor
Relations, Phone: (403) 668-1645, Email: klw@vitalrescorp.com, Website:
www.vitalrescorp.com; Syndicated Capital Corporation, A. Salman Jamal, Phone:
(604) 694-1994, Toll Free: 1-888-410-1994, Email: info@syndicatedcc.com,
Website: www.syndicatedcc.com

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VITAL RESOURCES CORP.

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