Kroes Energy announces successful development well

CALGARY, Sept. 15 /CNW/ - Kroes Energy Inc. (TSX Venture: KRS) announced
today that development well No. 301 produced an average of 183 bopd (82
barrels net to Kroes) on a six day production test in the Lelyaki oilfield in
Ukraine. Kroes has a 45% interest in the Kashtan Petroleum Ltd. joint venture
that has the license to operate the Lelyaki oilfield.
Fred Callaway, President of Kroes, stated that "these production test
results from well No. 301 confirm the prospectivity of the K1 zone. Well No.
301 is significant because it contributes toward Kroes' growing production
from the Lelyaki oilfield".
Well No. 301 is the first follow-up well to well No. 305 that was drilled
and placed on production earlier this year. Both wells produce from the K1
formation, which is located below the main P1 - P2 producing sands. Well No.
301 will be placed on production shortly. Meanwhile, the rig is being moved to
the next location where well No. 303 will commence drilling in the next few
weeks. Well No. 303 is being drilled as a P1 - P2 development well.

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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