News Releases

 Tue Dec 20, 2011
Oracle Energy Corp. Proceeding With Proposed Non-Brokered Private Placement

 Vancouver, British Columbia December 20, 2011)---Oracle Energy Corp. ("the Company" or "Oracle") (TSX.V: OEC) (Frankfurt: O2E) is pleased to announce that further to a news release dated November 7, 2011, the Company will be proceeding with a non-brokered private placement (the "Offering") of up to 12,000,000 units of the Company (the "Units") at $0.12 per Unit for aggregate gross proceeds of up to $1,440,000. Each Unit will consist of one common share in the capital of the Company and one-half of one share purchase warrant of the Company (each, a "Warrant"). Each whole Warrant is exercisable into one common share in the capital of the Company (each, a "Warrant Share") at an exercise price of $0.20 per Warrant Share for a period of 12 months from the closing date of the Offering (the "Closing Date") and $0.25 for the next 12 months from the Closing Date. If Oracle's common shares trade at or above a price of $0.50 for 10 consecutive trading days, Oracle may give notice (the "Notice") to the warrant holders that it intends to accelerate the expiry date of the Warrants to a date not less than the later of 30 days from the date of the Notice and the date that any hold period attaching to the Units expires.

All of the securities to be issued by the Company in connection with this Offering will be subject to a hold period, which expires four months and a day after the Closing Date.

The Company plans to use the proceeds from the Offering for its Romanian project, preliminary costs of its recently announced Australian earn in project and general working capital.

The Company may pay finder's fees in connection with the Private Placement as permitted by applicable securities laws and the TSX Venture Exchange ("TSXV").

The closing of the Offering is subject to approval from the TSXV.

About us

Oracle Energy Corp. (TSX.V: OEC) (Frankfurt: O2E) explores and develops oil and gas properties. The Company currently has interests in Romania and seeks to acquire additional international projects in the future. For further information on Oracle Energy and its projects please contact investor relations at (1) 778.331.2028 or oec@senergyir.com

ON BEHALF OF THE BOARD

Nasim Tyab, President
Oracle Energy Corp.

Investor Relations
Senergy Communications Inc.
Anthony Zelen
Tel: (1) 778-331-2028
oec@senergyir.com
www.senergyir.com


Forward Looking Statements
This news release contains forward-looking statements and forward-looking information, which are based on information currently available to the Company, and the Company provides no assurance that actual results will meet management's expectations. Forward-looking information includes the statement that the Company may complete the private placement. Actual results relating to, among other things, the closing of the proposed private placement and the timing thereof, the receipt of the requisite regulatory approvals, the net proceeds to the Company, and the use of proceeds and future business plans of the Company, could differ materially from those currently anticipated in such information for many reasons such as: the failure to obtain the requisite approvals; the failure to satisfy conditions to closing; failure to attract capital on the terms indicated or at all; changes in general economic conditions and conditions in the financial markets; changes in demand and prices for resources; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company's forward looking information and readers should consult the risk factors disclosed by other junior oil & gas companies as disclosed on SEDAR. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward looking information. The Company does not undertake to update any forward-looking information that may be made form time to time by the Company or on its behalf, except in accordance with applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.