Mr. Angel Roa reports

LNG ENERGY GROUP CORP. ENTERS INTO BINDING EXCLUSIVITY AGREEMENT AND LETTER OF INTENT TO ESTABLISH A US$200 MILLION STRATEGIC JV TO FUND OIL AND GAS INVESTMENTS IN VENEZUELA

LNG Energy Group Corp. has entered into a binding exclusivity agreement and a letter of intent to enter into a 50/50 joint venture with Fifth Ocean Management LP, in partnership with Westlawn Group, for the exploration and development of existing, and future oil and gas blocks in Venezuela.

Under the terms of the proposed joint venture, the parties will establish a new JV company organized in the United States to invest in oil and gas exploration and development projects in Venezuela. LNG will contribute existing oil and gas assets in Venezuela, and Fifth Ocean will finance an investment program of up to $200-million (U.S.) to increase production and potential acquisition of additional assets in Venezuela.

The transaction is subject to the completion of due diligence and the negotiation and execution of mutually acceptable definitive agreements within the binding exclusivity period. Closing of the transaction is subject to customary conditions precedent, required regulatory approvals (including applicable OFAC, Ontario Securities Commission and TSX Venture Exchange) and customary contractual approvals.

The JV company will also partner with Salamander Solutions Inc. on a pilot program to deploy Salamander's advanced heating technology in Venezuela. The technology partnership between the JV company and Salamander will be leveraged to evaluate and unlock prospective heavy oil resources in the assets of the JV company.

About LNG Energy Group Corp.

The company focuses on the acquisition and development of hydrocarbon production and exploration assets in Latin America.

We seek Safe Harbor.