Epic Energy Inc. delisted by the TSX Venture Exchange Inc.

    CALGARY, Aug. 10 /CNW/ - Epic Energy Inc ("Epic or the "Company)
regrettably must inform its shareholders and the public that the TSX Venture
Exchange Inc. ("TSX-V") has denied the Company's request for an additional
9-month extension to the Notice to Delist, issued previously by the TSX-V, and
the Company's shares have therefore been delisted from the NEX board of the
    As a result of this decision by the TSX-V, the Company's management and
board will meet as soon as practicable to consider all of the Company's
    Delisting does not mean the Company is defunct. However, the Company was
unsuccessful in its efforts to obtain an agreement with its Ukrainian partner
to co-finance a proposed water shut-off remediation project for the Aktash
wells that continue to increase water production at the expense of oil
production. As a result, the Aktash oil production has plummeted.

    Epic Energy Inc. is a Canadian company whose shares are subject to cease
trading orders issued in July 2003 by the Ontario, Alberta and British
Columbia securities commissions. On August 7, 2007, the Company's shares were
delisted from the NEX board of the TSX Venture Exchange. Epic's head office is
in Calgary, Canada with its Ukrainian subsidiary office located in Simferopol,
Crimea, Ukraine.

    This press release includes forward-looking statements and assumptions
concerning Epic's strategies, future operations, expected financial results,
financial resources, commodity prices, costs of production and quantum of oil
and natural gas reserves. By their nature, forward-looking statements are
subject to numerous risks and uncertainties that can significantly affect
future results, including uncertainties inherent in oil and gas development
and production activities, the risk of unforeseen actions by third parties
including government officials, and fluctuations in world oil prices. Actual
future results may differ materially from those assumed or described in such
forward-looking statements as a result of the impact of issues, risks and
uncertainties whether described herein or not, and which Epic may not be able
to control. The reader is therefore cautioned not to place undue reliance on
such forward-looking statements.

    The TSX Venture exchange does not accept responsibility for the adequacy
    or accuracy of this release.

    On behalf of the Board of Directors,

    Ronald K. Cormick
    President & CEO

For further information:

For further information: Epic Energy Inc., rcormick@shaw.ca

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