Kroes Energy announces resignation of Director

CALGARY, July 7 /CNW/ - Kroes Energy Inc. (TSX Venture: KRS) announced
today that on July 5, Mr. Stephan V. Benediktson resigned as a Director of
Kroes Energy to pursue total retirement. Mr. Benediktson has been a Director
since the inception of the Company in 1995 and made a valuable contribution to
the progress it has achieved. The Directors and Officers thank him for his
efforts and wish him good health and happiness.

Kroes Energy is a junior oil and gas producer and explorer participating
in the Lelyaki Oilfield redevelopment project in Ukraine, one of Eastern
Europe's fastest growing economies. Kroes has a strong management team, with
extensive international experience. Shares trade on the TSX Venture Exchange
under the symbol KRS.

Forward-Looking Statements
This disclosure contains certain forward-looking estimates that involve
substantial known and unknown risks and uncertainties, certain of which are
beyond Kroes' control, including: the impact of general economic conditions in
the areas in which the Company operates, industry conditions, changes in laws
and regulations including the adoption of new environmental laws and
regulations and changes in how they are interpreted and enforced, increased
competition, the lack of availability of qualified personnel or management,
fluctuations in commodity prices, foreign exchange or interest rates, stock
market volatility and obtaining required approvals of regulatory authorities.
In addition, there are risks and uncertainties associated with oil and gas
operations; therefore, Kroes' actual results, performance or achievement could
differ materially from those expressed in, or implied by, these forward-
looking estimates and, accordingly, no assurances can be given that any of the
events anticipated by the forward-looking estimates will transpire or occur,
or if any of them do so, what benefits, including the amounts of proceeds,
that Kroes will derive from that.

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