Exceed announces private placement and provides status report on international operations


    CALGARY, April 18 /CNW/ - Exceed Capital Holdings Ltd. along with its
wholly owned subsidiaries (collectively, "Exceed" or the "Company") is pleased
to announce that it has entered into an agreement with Leede Financial Markets
Inc. (the "Agent") to issue, on a best efforts basis, up to 15,000,000 units
at a price of $0.10 per unit for gross proceeds of up to $1,500,000. Each unit
is to be comprised of one common share and one warrant, with each warrant
exercisable into one common share for a period of eighteen months after
closing at an exercise price of $0.20 per share. Blackmont Capital Inc. will
be included in the banking group of the private placement to the extent of
50%. The securities issued in connection with the private placement will be
subject to a hold period of four months from the date of closing. The gross
proceeds are intended to be used to fund Exceed's share of drilling costs on
the Jorf prospect in Tunisia and for working capital. The private placement is
subject to applicable regulatory approvals.
    The Agent will receive a fee equal to 10% of the proceeds of the Offering
along with an option (the "Agent's Option") to acquire that number of units of
the Company equal to 10% of the total number of units sold under the Offering.
Each Agent's Option shall entitle the Agent to purchase one unit of the
Company at a price of $0.10 for a period of eighteen months from the date of
the closing of the Offering.
    The securities will not be registered with the US Securities and Exchange
Commission and may not be offered or sold within the United States without
registration or an applicable exemption from the registration requirements of
the United States Securities Act of 1933 and any applicable state securities
    Exceed is pleased to provide a progress report on its various initiatives
in the international oil and gas exploration sector. Exceed has been actively
assembling a portfolio of exploration opportunities in Western Europe,
Australia and North Africa.

    Western Europe

    Exceed is pleased to advise that it has been assigned, subject to final
approval by the French Ministry of Industry, exploration rights for an area of
514 km2 (127,012 acres) including areas of significant geological interest to
the Company.
    Exceed filed an application for an exploration block in the Aquitaine
basin of France (the "Application") on October 26, 2005. The Application
underwent a vetting period with the Government of France and the affected
local administrations. This period concluded with the publication of the
Application in the Official Journal of the Republic of France on March 18,
2006 and the Official Journal of the European Union ("OJEU") on June 17, 2006.
Under French law, a 90 day competition period commenced on the date of
publication in the OJEU.
    Several competing bids were received by French authorities and, after a
period of negotiation, Exceed came to a joint settlement with the competitors
and the central administration of the French Government. This settlement
resulted in the assignment of the above noted area to Exceed, subject to final
approval by the Minister of Industry after final acceptance by the local
administration and submission of a recommendation from the General Counsel of
Mines. The date of the above mentioned acceptance, recommendation and final
approval are not known at this time, however, the Company believes that it has
fulfilled all the necessary requirements of the French authorities.
    Exceed submitted applications for two additional exploration permits in
Western Europe during 2006. Both of these applications have been reviewed by
the appropriate levels of government and are progressing through the approval


    Exceed posted Block L05-8 which comprises an area of approximately
294,000 hectares (726,489 acres) in the Canning Basin of Western Australia
(the "Canning Block"). The posting was released for public bid in September,
2005 by the Government of Western Australia and was open for competitive
applications for a six month period. Exceed submitted its application in
March, 2006. A review by the Government of Western Australia of all
applications that had been submitted resulted in Exceed being designated the
"Preferred Applicant".
    As the Preferred Applicant, Exceed has exclusive rights to negotiate with
aboriginal groups who have claims on the Block. On September 27, 2006, the
Government of Western Australia published its notification pursuant to
Section 29 of the Commonwealth Native Title Act 1993. Under the provisions of
this Act, native title parties who will be permitted to negotiate with Exceed
and the Government of Western Australia were required to identify themselves
by January 27, 2007.
    During this period, two aboriginal groups provided notification that they
had claims over portions of the Canning Block (the "Interested Parties").
Exceed has since provided the Interested Parties with materials covering the
Company's policies with respect to involvement of aboriginal groups and
general work plans for the Canning Block. Exceed is currently scheduling
meetings with the Interested Parties in Australia to commence negotiations to
access the Canning Block. The Company expects to receive final approval of the
award of the Canning Block on the conclusion of these negotiations. Exceed has
identified exploration leads that will be the focus of its anticipated future
oil exploration activities on the Canning Block.

    North Africa

    The Company provided an update of its Tunisian operations (the "Jorf
Prospect") in its press release dated April 2, 2007. The seismic for the Jorf
Prospect was shot in March 2007 and is being interpreted by the operator to
determine the best location for the well scheduled to be spudded in June,
    It is expected that a drilling rig contract for the well will be
finalized shortly. The operator of the Jorf Prospect has already acquired long
delivery items such as wellhead, casing and related equipment necessary for
drilling of the well. Under the terms of Exceed's agreement with the operator,
Exceed will pay 15% of drilling and completion costs to earn a 10% interest in
the first identified drillable structure, with a further option to farm-in on
drilling into other structures within the concession on the same terms.
    The Jorf Prospect, located onshore south-central Tunisia, encompasses an
area of approximately one million acres. The northern boundary of the Jorf
Prospect is within 35 kilometres of the Gulf of Gabes. Major oil and gas
pipelines from the giant El Borma oil and gas field and other southern
Tunisian oil fields traverse the Jorf Prospect (within 10 to 40 kilometres
respectively from either of the two potential locations) and connect to the La
Skhira oil terminal in the Gulf of Gabes.
    Exceed is continuing to assemble a portfolio of international oil and gas
exploration opportunities in Western Europe, Australia and North Africa. The
Company is focused on growing shareholder value through international
exploration in countries with significant exploration potential and developed
fiscal and legal regimes.

    The common shares of Exceed Capital Holdings Ltd. are listed on the TSX
Venture Exchange under the symbol XED.A. There are 119,154,982 shares issued
and outstanding.

    Forward-looking Statements
    This press release contains forward-looking statements concerning the
Company's expectations of future cash flow, earnings and expansion of its oil
and gas property interests and concerning the Company's regulatory
applications and proposed financing. These statements are based on current
expectations that involve a number of risks and uncertainties, which could
cause actual results to differ from those anticipated. These risks include,
but are not limited to: the risks associated with the oil and gas industry
(e.g., operational risks in development, exploration and production; delays or
changes in plans with respect to exploration or development projects or
capital expenditures; the uncertainty of reserve estimates; the uncertainty of
estimates and projections relating to production, costs and expenses, and
health, safety and environmental risks), acquisitions, commodity price, price
and exchange rate fluctuation and uncertainties resulting from competition
from other producers and ability to access sufficient capital from internal
and external sources. Additional information on these and other risk factors
that could affect the Company's operations and/or financial results are
included in the Company's reports on file with Canadian securities regulatory
authorities. The reader is cautioned not to place undue reliance on these
statements, as there can be no assurance that the plans, intentions or
expectation upon which they are based will occur. By their nature,
forward-looking statements involve numerous assumptions, known and unknown
risks and uncertainties, both general and specific, that contribute to the
possibility that the predications, forecasts, projections and other
forward-looking statements will not occur or that actual results would differ
materially from estimated or implied results.
    The forward-looking statements or information contained in this news
release are made as of the date hereof and the Company undertakes no
obligation to update publicly or revise any forward-looking statements or
information, whether as a result of new information, future events or
otherwise, unless so required by applicable securities laws.

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

For further information:

For further information: Mr. Richard W. DeVries, President, Tel: (718)
874-8319, Fax: (403) 770-8810

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