Mr. John McLeod reports

EMPEROR ANNOUNCES $ 2.2 MILLION PRIVATE PLACEMENT

Emperor Oil Ltd. has arranged a non-brokered private placement of up to 22 million units at 10 cents per share. Each unit will consist of one common share and one common share purchase warrant. Each warrant will entitle the holder to purchase one common share of the company at a price of 20 cents for two years.

Proceeds from the offering will be used to finance due diligence and evaluate projects in the Middle East and North Africa, where the company is currently considering significant opportunities.

"We have an experienced management and technical team in place who are committed to the company's growth," chairman of the board, John McLeod, stated.

We seek Safe Harbor.