COSTA Energy Inc. - Option cancellation

    CALGARY, April 7 /CNW/ - COSTA Energy Inc ("COSTA" or the "Company") (NEX
- CEQ.H) announces that it has cancelled all of its outstanding options.
    After the October 21, 2008 sale of its wholly-owned subsidiary, COSTA
Resources Ltd., which held the Company's oil and gas assets, the Company had
no operating assets. The Company has recently consolidated its common shares
on a ten for one basis. The cancellation of options is another step in COSTA's
plan to simplify its capital structure to better position itself to complete a
change of business and/or a reverse takeover transaction. All holders of the
Company's options have agreed to this cancellation.

    Neither TSX Venture Exchange nor its Regulation Services Provider (as
    that term is defined in the policies of the TSX Venture Exchange) accepts
    responsibility for the adequacy or accuracy of this release.

For further information:

For further information: Requests for shareholder information should be
directed to: David F. Campbell, President and CEO, COSTA Energy Inc., Calgary,
Alberta, Telephone: (403) 242-5676, Email:

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