Re: ARC Energy Fund 5's Holdings in Crocotta Energy Inc.



    CALGARY, Aug. 3 /CNW/ - ARC Equity Management (Fund 5) Ltd. (as the
general partner of ARC Energy Fund 5 Canadian Limited Partnership, ARC Energy
Fund 5 United States Limited Partnership and ARC Energy Fund 5 International
Limited Partnership, collectively "ARC Energy Fund 5") of Calgary, Alberta
announced today that it has entered into an agreement with Crocotta and has
agreed to acquire up to 4.4 million common shares of Crocotta upon the
exercise by Crocotta of its right to call upon that obligation (the "Call
Right") and that it has obtained the right to acquire up to 3.6 million
additional common shares of Crocotta pursuant to a put and call obligation
(the "Put and Call Obligation") exercisable by ARC Energy Fund 5 or Crocotta,
representing an aggregate of approximately 13.7% of the Crocotta common
shares, assuming the exercise in full of both rights.
    As a result, ARC Energy Fund 5 now exercises control or direction over an
aggregate of 6.11 million common shares of Crocotta, as well as the Put and
Call Obligation right to acquire an additional 3.6 million Crocotta common
shares and the Call Right for an additional 4.4 million Crocotta common
shares, which holdings represent approximately 12.1% of the current
outstanding Crocotta common shares, or 24.1% assuming both the Put and Call
Obligation and the Call Right are exercised.

    ARC Energy Fund 5 is an investment fund specializing in the energy
sector. Its general partner is ARC Equity Management (Fund 5) Ltd., part of
the ARC Financial Group of companies. Although ARC Energy Fund 5 may make
further purchases of common shares of Crocotta through private purchases, such
purchases will be made for investment purposes.

    This press release has been issued in order to comply with applicable
securities legislation.





For further information:

For further information: or a copy of the securities report contact:
Lauchlan Currie, President, ARC Equity Management (Fund 5) Ltd., 4300, 400 -
3rd Avenue S.W., Calgary, Alberta, Telephone: (403) 292-0680, Fax: (403)
292-0579

Organization Profile

ARC EQUITY MANAGEMENT (FUND 5) LTD.

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