Galleon provides update on Puskwa operations

    CALGARY, Sept. 13 /CNW/ - Galleon Energy Inc. ("Galleon") is pleased to
announce the receipt of Alberta Energy Utilities Board ("EUB") approval
granting Enhanced Oil Recovery (waterflood) approval and good production
practice ("GPP") status on a portion of sections 11 and 13-72-26W5M.
Production restrictions on these sections have been immediately removed and
production from these wells will be gradually increased over the next few
months in an effort to continue proper reservoir management.
    Galleon plans to make application to expand this approved waterflood
scheme on the recently developed portions of sections 11 and 13 and obtain GPP
status thereon.
    This is the second approval for waterflood and GPP status at Puskwa. On
March 23, 2007, Galleon was granted its first waterflood approval by the EUB
on portions of section 32-71-26W5M and section 5-72-26W5M. Water injection was
initiated in June 2007 and performance to date has been positive.
    Galleon has approximately 59.8 million Class A shares and 922,500 Class B
shares issued and outstanding which trade on the TSX under the symbols "GO.A"
and "GO.B".

    ADVISORY: Certain information regarding Galleon Energy Inc. in this news
release including management's assessment of future plans and operations, and
timing of increases in production, waterflood and applications for GPP status
in certain sections, may constitute forward-looking statements under
applicable securities laws and necessarily involve risks including, without
limitation, risks associated with oil and gas exploration, development,
exploitation, production, marketing and transportation, loss of markets,
volatility of commodity prices, currency fluctuations, imprecision of reserve
estimates, environmental risks, competition from other producers, inability to
retain drilling rigs and other services, capital expenditure costs, including
drilling, completion and facilities costs, unexpected decline rates in wells,
surface conditions may delay projects and/or operations, wells not performing
as expected, delays resulting from or inability to obtain required regulatory
approvals and ability to access sufficient capital from internal and external
sources. As a consequence, actual results may differ materially from those
anticipated in the forward-looking statements. Readers are cautioned that the
foregoing list of factors is not exhaustive. Additional information on these
and other factors that could effect Galleon's operations and financial results
are included in reports on file with Canadian securities regulatory
authorities and may be accessed through the SEDAR website (, at
Galleon's website ( Furthermore, the forward-looking
statements contained in this news release are made as at the date of this news
release and Galleon does not undertake any obligation to update publicly or to
revise any of the included forward-looking statements, whether as a result of
new information, future events or otherwise, except as may be required by
applicable securities laws.

    Disclosure provided herein in respect of barrels of oil equivalent (boe)
may be misleading, particularly if used in isolation. A boe conversion ratio
of 6 Mcf: 1 Bbl is based on an energy equivalency conversion method primarily
applicable at the burner tip and does not represent a value equivalency at the

For further information:

For further information: see or contact: Steve
Sugianto, President and Chief Executive Officer, (403) 261-9287,; Glenn R. Carley, Executive Chairman, (403) 261-9277,; Shivon Crabtree, Vice President and Chief Financial
Officer, (403) 261-9276

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