Calibre Energy, Inc. Completes $5.0 Million Financing

    WASHINGTON & HOUSTON, April 23 /CNW/ - Calibre Energy, Inc., (OTCBB:
CBRE), ("Calibre", or "the Company") announced today the completion of a
$5,000,000 financing through the private placement of 8,000,000 shares of
Series A Convertible Preferred Stock ("Series A Preferred") with BlueWater
Capital Group, LLC, a Houston, TX-based private investment fund, managed by
Prentis B. Tomlinson, Jr., Calibre's Chairman and Chief Executive Officer.

    We anticipate that the proceeds from the Series A Preferred will be
sufficient to fund our planned capital budget and general and administrative
expenditures for the remainder of 2007.

    The 8,000,000 shares of Series A Preferred were issued at $0.625 per
share, have a liquidation preference of $5 million, carry no coupon and are
not accompanied by or issued in conjunction with any warrants or options. Each
share of the Series A Preferred shall be convertible at the election of
BlueWater Capital Group, LLC into shares of Common Stock based on the ratio
required to cause the number of shares of Common Stock issuable upon the
conversion of 8,000,000 shares of Series A Preferred Stock to equal 75% of the
number of shares of Common Stock then issued and outstanding.

    The issuance of the Series A Preferred, which is authorized and
designated to have that number of votes equal to 51% of the total votes
entitled to be cast by all classes of stock of the Company, results in the
holder of the Series A Preferred exercising substantial influence over the
outcome of all matters requiring a stockholder vote. The conversion of the
Series A Preferred into Common Stock will result in significant dilution to
the Company's stockholders and the book value of their shares of the Company's
common stock. Accordingly, any investment in the Company's common stock will
continue to be highly speculative.


    Headquartered in Washington, DC with operating offices in Houston, TX,
Calibre Energy, Inc. is an early stage oil and gas company focused on the
creation of shareholder value through the development of world class
unconventional and untapped domestic and international oil and gas resources
with domestic operations in the Barnett and Fayetteville Shales and
international operations in Kurdistan.

    For more information visit our Web site:


    This press release contains forward looking statements within the meaning
of Section 27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended, regarding future results,
levels of activity, events, trends or plans. We have based these
forward-looking statements on our current expectations and projections about
such future results, levels of activity, events, trends or plans. These
forward looking statements are not guarantees and are subject to known and
unknown risks, uncertainties and assumptions about us that may cause our
actual results, levels of activity, events, trends or plans to be materially
different from any future results, levels of activity, events, trends or plans
expressed or implied by such forward-looking statements. In some cases, you
can identify forward-looking statements by terminology such as guidance, may,
will, should, could, would, expect, plan, anticipate, believe, estimate,
continue or the negative of such terms or other such expressions. As they
pertain to our business, in general, important factors that could cause our
actual results to differ materially from our expectations, include but are not
limited to those factors disclosed in our Annual Report on Form 10-KSB, our
other filings with the Securities and Exchange Commission, as well as our
other public documents and press releases. Readers are cautioned not to place
undue reliance on our forward looking statements, as they speak only as of the
date made. Such statements are not guarantees of future performance or events
and we undertake no obligation to disclose any revision to these forward
looking statements to reflect events or circumstances occurring after the date

For further information:

For further information: Calibre Energy, Inc. Prentis B. Tomlinson, Jr.,
202-223-4401 President and CEO Fax: 202-223-4406

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