Sure Energy Inc. announces private placement

    CALGARY, July 2 /CNW/ - Sure Energy Inc. (SHR, TSX) ("Sure") is pleased
to announce that it intends to complete a non-brokered private placement of up
to 5,000,000 common shares in the capital of Sure ("Common Shares") at a
subscription price of $1.10 per Common Share and up to 1,895,000 Common Shares
issued on a "flow-through share" basis ("Flow-Through Shares") at a
subscription price of $1.32 per Flow-Through Share, for total gross proceeds
of up to approximately $8,000,000 (the "Offering"). The Offering is expected
to occur on or about July 18th, 2008 and is subject to the receipt of
regulatory approval, including the conditional approval of the Toronto Stock
Exchange. Sure reserves the right to pay a finder's fee or commission to
certain persons in respect of the gross proceeds raised by such person.

    The proceeds from the Offering will be used to increase Sure Energy's
2008 capital budget.

    It is anticipated that certain insiders of Sure Energy will subscribe for
Common Shares and Flow-Through Shares under the Offering. As a result of the
insider's participation, the Offering may be classified as a "related party
transaction" as such term is defined in Multilateral Instrument 61-101 ("MI
61-101"). Sure Energy currently anticipates that it will be able to rely upon
valuation exemptions contained in MI 61-101 or an equivalent exemption under
applicable securities law.

    Sure Energy Inc. is a publicly traded oil and gas exploration and
development company listed on the Toronto Stock Exchange under the symbol

For further information:

For further information: Mr. Lance Wirth, Vice President Finance and
CFO, Mr. Jeff Boyce, President and CEO, Phone: (403) 410-3100, Email:, Web:

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