Exxel Energy Corp. announces that it has signed a Purchase and Sale Agreement with Patriot Petroleum Corp.

About this update from Xxl Energy Corp.

[{"type":"text","content":"\n\n\n\nVANCOUVER, May 12 /CNW/ - Exxel Energy Corp. ("Exxel") (TSXV: EXX)\nannounces that it has entered into a Purchase and Sale Agreement dated May 9,\n2008 with Patriot Petroleum Corp., whereby Exxel has sold certain petroleum\nand natural gas leases located in the Garrington Area of Alberta in\nconsideration for the payment of $1,000,000. The parties intend to close the\ntransaction on May 14, 2008.\n\n\nThe acquisition is a non arm's length transaction as Mr. John Hislop is a\ndirector of both Exxel and Patriot Petroleum Corp.\n\n\nThe Purchase and Sale Agreement is subject to the approval of the TSX\nVenture Exchange.\n\n\nAbout Exxel Energy Corp.\n\n\nExxel, headquartered in Houston, is an independent oil and gas\nexploration and development company focused in the Greater Green River Basin\nof Wyoming, the Columbia River Basin of Washington, the Piceance Basin of\nColorado, the Great Basin of Nevada, and the Williston Basin of North Dakota.\n\n\nThe TSX Venture Exchange has not reviewed and does not accept\n\n\nresponsibility for the adequacy or accuracy of this release.\n\n\n","length":1168,"tagName":"div"}]

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