Vital to Accelerate Exploration Programs

    CALGARY, April 2 /CNW/ - Vital Resources Corp. ("Vital") (CNQ Exchange -
VITL; Frankfurt Stock Exchange - VZN) is pleased to announce successful
negotiation with Otto Energy Limited ("Otto") (Australian Stock Exchange -
OEL) which results in plans to accelerate exploration programs in SC 51 & SC
55 in the Philippines.
    Vital has negotiated to adjust its farm in to earn 10% (formerly 30%) in
each exploration permit, paying its share of the Philippine partner carry and
contribution of a total of US$200,000 in carry towards seismic (reduced from
US$600,000). Vital will pay 13.75% of each of the first wells in each permit
(formerly 41.25%).
    These discussions have resulted in plans to accelerate the exploration
programs across all three Philippine permits this year including a
US$ 6-7 million 2D & 3D seismic program and drill the 100MMbbls + Argao
prospect in SC 51 before year end (subject to seismic vessel and rig
    Vital has opted to re-allocate the funds paid to date towards seismic
acquisition in SC 55 in October 2006, as an accelerated program of exploration
is beyond original budgets set out for the permits. Reducing Vital's equity
position allows for the accelerated plan to go ahead in the exploration
permits and concentrate the company's resources on SC 50, where the Calauit
field will be put on production in early 2008 at a gross rate of
12-15,000 bopd. Vital's 35% interest in SC 50 remains unaffected, which
includes paying 60% towards the $20 million development.
    "This is a great opportunity for Vital to start exploration and
production well ahead of our original schedule while significantly reducing
our capital requirements," Michael Whitehead, President & CEO announced.
    Forum Energy Plc (London Stock Exchange AIM, symbol: FEP) recently
announced "a recent independent assessment by petroleum consultants PGS
Reservoir Ltd., estimated that the field (Sampaguita GSEC 101) could contain
potential recoverable gas reserves of up to 2.3 trillion cubic feet."
Sampaguita GSEC 101, which lies North of Vital's Palawan SC 55, is 250
kilometers southwest of the world-class Malampaya gas field, where operator
Shell has installed extensive production facilities and pipeline
infrastructure that supplies gas to three Philippine power plants.

    Certain information set forth in this document, including management's
assessment of the future plans and operations of Vital, contains forward
looking statements. By their nature, forward looking statements are subject to
numerous risks and uncertainties, some of which are beyond Vital'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 industry participants,
the lack of availability of qualified personnel or management, stock market
volatility and the ability to access sufficient capital from internal and
external sources. Readers are cautioned that the assumptions used in the
preparation of such information, although considered reasonable at the time of
preparation, may prove to be imprecise and, as such, undue reliance should not
be placed on forward looking statements. The actual results, performance or
achievement of Vital could differ materially from those expressed in, or
implied by, these forward looking statements and, accordingly, no assurances
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 Vital will derive there from. Vital disclaims any intention or obligation
to update or revise any forward looking statements, whether as a result of new
information, future events or otherwise.

    %SEDAR: 00022969E

For further information:

For further information: Vital Resources Corp., Kevin Worth, Investor
Relations, Phone: (403) 668-1645, Email:, Website:; Syndicated Capital Corporation, A. Salman Jamal, Phone:
(604) 694-1994, Toll Free: 1-888-410-1994, Email:,

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