News Releases

 Fri Aug 19, 2011
News Release

 August 19, 2011 - Oracle Energy Corp. ("Oracle") (OEC-TSX.V) announces that it intends to conduct an offering (the "Offering") of its securities. Pursuant to the Offering, Oracle proposes to sell up to 12,000,000 units (the "Units") at a price of $0.12 per Unit. Each Unit is comprised of one common share (a "Share") and one share purchase warrant (a "Warrant"). Each Warrant is exercisable into a common share (a "Warrant Share") of Oracle at a price of $0.20 in the first year and at a price of $0.25 per Warrant Share in the second year, subject to the following acceleration provision: if the closing trading price for the common shares is at or above a price of $0.50 for ten (10) consecutive trading days, Oracle has the option to accelerate the expiry date and if it so chooses, the Company may issue a press release that it intends to accelerate the expiry date of the Warrants to a date that is the later of 30 days from either the date of the press release or the date that all hold periods attaching to the shares comprising the Units expires (the "Accelerated Expiry Date"). The share purchase warrants shall expire on the earlier of the last day of the two (2) year exercise term or the Accelerated Expiry Date Oracle intends to use the proceeds from the Offering on its Romanian properties, pre-acquisition costs and working capital purposes. Finder's fees may be payable in shares, warrants or cash or any combination thereof in connection with the Offering.

The proposed private placement is subject to regulatory approval.

Oracle Energy Corp. is a Canadian based oil and gas company with a portfolio of oil and gas interests in Romania.

"Nasim Tyab"

Nasim Tyab

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX has reviewed and does not accept responsibility for the contents of this news release.