News Releases

 Thu Jun 12, 2008
Oracle Energy Corp. Investigating U.S. Oil and Gas Opportunities

 June 10, 2008 - Oracle Energy Corp. ("Oracle") (OCL-TSX.V)(O2E-Frankfurt) announces that it is currently evaluating a number of oil and gas opportunities in the United States which are being considered for the Company's participation.

On December 13, 2007, the Company announced its intention to pursue oil and gas exploration opportunities in Honduras, Central America through its subsidiary, Oracle Energy Honduras SA.

The Company announces that it is taking time to re-evaluate this project in Honduras. The purpose of this re-evaluation is to determine whether the Company moves forward with the Honduras project at this time.

Oracle Energy Corp. is a Canadian based oil and gas company with a diversified portfolio of international oil and gas interests in Romania, Italy and the United States.

ON BEHALF OF THE BOARD

"Nasim Tyab"

Nasim Tyab
President


The TSX Venture Exchange has not reviewed and does not accept responsibility for the contents of this news release. Some of the statements contained in this release are forward-looking statements. Forward-looking statements include but are not limited to, statements concerning estimates of recoverable hydrocarbons, expected hydrocarbon prices, expected costs, statements relating to the continued advancement of the Company's projects and other statements which are not historical facts. When used in this document, and on other published information of the Company, the words such as "could," "estimate," "expect," "intend," "may," "potential," "should," and similar expressions are forward-looking statements. Although the Company believes that its expectations reflected in the forward-looking statements are reasonable, such statements involve risk and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Various factors could cause actual results to differ from these forward-looking statements including the potential that the Company's projects will experience technical and mechanical problems, geological conditions in the reservoir may not result in commercial level of oil and gas production, changes in product prices and other risks not anticipated by the Company or disclosed in the Company's published material. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. The information contained herein does not constitute an offer of securities for sale in the United States, United Kingdom, Canada, Japan or Australia.