Glenn Carley acquires additional shares of Flagship Energy Inc.

    CALGARY, Oct. 11 /CNW/ - Glenn R. Carley, Executive Chairman of Flagship
Energy Inc. (the "Company"), announces that he has acquired an additional
942,500 Class A shares of Flagship Energy Inc. through the open market during
the time period October 3, 2007 through October 10, 2007. After taking into
account this acquisition, Mr. Carley owns, directly or indirectly, or
exercises control or direction over, an aggregate of 3,880,553 Class A shares,
representing 12.28% of the aggregate issued and outstanding Class A shares,
and 11.0% of the aggregate voting shares, of the Company, respectively.
    The shares were acquired for investment purposes and Mr. Carley may from
time to time acquire additional shares of Flagship Energy Inc. in the ordinary

For further information:

For further information: or for a copy of the early warning report filed
in respect of the above acquisition, please contact: Glenn R. Carley, c/o
Flagship Energy Inc., Suite 1700, 311 - 6th Avenue S.W., Calgary, Alberta, T2P
3H2, Tel: (403) 513-8300, Email:

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