PetroSouth Energy Completes Merger

    HOUSTON, October 4 /CNW/ - PetroSouth Energy Corp. ("the Company"), (NASD
OTC BB:PSEG), is pleased to announce the completion of their merger
transaction with PetroSouth Energy Corp. BVI, a private corporation, following
approvals by both companies' board of directors.

    On October 2, 2007 the Company completed the acquisition of all of the
issued and outstanding common stock of PetroSouth Energy Corp. BVI, a
privately-owned British Virgin Islands corporation engaged in oil and gas
exploration, pursuant to a share exchange agreement we entered into with
PetroSouth Energy Corp. BVI and its shareholders on September 30, 2007. The
Company issued, an aggregate of (i) 28,266,666 common shares of our common
stock and (ii) 28,266,666 warrants to purchase common shares in the capital of
PetroSouth Energy Corporation at $1.25 per common share. The securities issued
in the merger have not been registered under the Securities Act of 1933 and
may not be resold for a period of one year absent a registration pursuant to
the Securities Act. The complete terms of the merger are disclosed in 8-K
filings and can be accessed with reports filed with the SEC.

    Fred B. Zaziski, Chairman of PetroSouth Energy Corp., states: "The public
listing of PetroSouth Energy Corp. through this merger is an important
development in the company's growth strategy. A public market allows us to
pursue our business plan more aggressively while providing us with the proper
venue for corporate visibility for investors and stakeholders in PetroSouth

    About PetroSouth Energy Corp.

    PetroSouth Energy Corp. is a publicly traded independent oil and gas
exploration company with headquarters in Houston. PetroSouth Energy Corp.
trades on the NASD OTC BB under the ticker symbol: PSEG.

    On behalf of the Board

    Fred B. Zaziski, Chairman

    Forward-Looking Statements

    Statements in this news release that are not historical facts are
forward-looking statements that are subject to risks and uncertainties. Words
such as "expects," "intends," "plans," "may," "could," "should,"
"anticipates," "likely," "believes" and words of similar import also identify
forward-looking statements. Forward-looking statements are based on current
facts and analyses and other information that are based on forecasts of future
results, estimates of amounts not yet determined and assumptions of
management, including, but not limited to, the Company's belief that
PetroSouth Energy can identify and successfully negotiate leases for oil and
gas properties and that the Company can participate in the exploration of
those properties. Actual results may differ materially from those currently
anticipated due to a number of factors beyond the reasonable control of the
Company. Additional information on risks and other factors that may affect the
business and financial results of the Company can be found in filings of the
Company with the U.S. Securities and Exchange Commission.

For further information:

For further information: PetroSouth Energy Corp. Fred B. Zaziski,
1-888-977-6884 Chairman

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