ProEx Energy Not Impacted By Alberta Royalty Announcement

    CALGARY, Oct. 26 /CNW/ - (TSX - PXE) ProEx Energy Ltd. ("ProEx" or the
"Company") confirms, in response to several inquiries, that it is not impacted
by the changes to Alberta royalties as announced by the Alberta provincial
government on October 25th. ProEx's entire production base of over 9,500 boe
per day is produced in British Columbia.
    The Company's strategy has focused on building a dominant position in an
emerging regional tight gas play in the Foothills of northeast British

    ProEx Energy Ltd. is a Calgary based junior oil and natural gas company
with operations in northeast British Columbia. Common shares of ProEx are
listed on the Toronto Stock Exchange under the symbol PXE.

    Forward Looking Statements - Certain information regarding ProEx Energy
Ltd. set forth in this document, including management's assessment of ProEx
Energy Ltd.'s future plans and operations, contains forward-looking statements
that involve substantial known and unknown risks and uncertainties. These
forward-looking statements are subject to numerous risks and uncertainties,
certain of which are beyond ProEx Energy Ltd.'s control, including the impact
of general economic conditions, industry conditions, volatility of commodity
prices, currency fluctuations, imprecision of reserve estimates, environmental
risks, competition from other producers, the lack of availability of qualified
personnel or management, stock market volatility and ability to access
sufficient capital from internal and external sources. ProEx Energy Ltd.'s
actual results, performance or achievement could differ materially from those
expressed in, or implied by, these forward-looking statements and,
accordingly, no assurance can be given that any of the events anticipated by
the forward-looking statements will transpire or occur, or if any of them do
so, what benefits that ProEx Energy Ltd. will derive therefrom.

    %SEDAR: 00020978E

For further information:

For further information: Greg Kist, Vice President, Investor Relations
and Marketing, Phone: (403) 539-1809, Fax: (403) 216-2514; Email, Web:

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