Action Energy Inc. Announces Termination of Officers

    
    /THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR TO
    ANY UNITED STATES NEWS SERVICE. ANY FAILURE TO COMPLY WITH THIS
    RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS./

    TSX-V Symbol "AEC"
    

CALGARY, Nov. 3 /CNW/ - Action Energy Inc. ("Action" or the "Company") announces that Ernst & Young Inc., the Receiver and Manager appointed by an order granted by the Court of Queen's Bench of Alberta over all of the undertakings, property and assets of Action, has terminated the employment of the President and Chief Executive Officer, the Senior Vice President, Engineering and the Vice President, Land of Action.

Action Energy Inc. is a publicly traded Calgary, Alberta based junior oil and natural gas exploration and production company with operations concentrated in core areas in southern Saskatchewan and central and southern Alberta.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THE TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

SOURCE Action Energy Inc.

For further information: For further information: ACTION ENERGY INC., Suite 800, 350 - 7th Avenue S.W., Calgary, Alberta, T2P 3N9, Phone: (403) 264-1112, Fax: (403) 264-1116, E-mail: info@action-energy.com, Website: www.action-energy.com

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Action Energy Inc.

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