Mystique Energy Announces $3.2 Million Financing

TSX-Venture Exchange: MYS

CALGARY, June 26 /CNW/ - Mystique Energy Inc. (TSX-V: MYS) ("Mystique")
announces that it intends to offer for sale, up to 7.5 million flow-through
common shares at $0.43 per share, by way of a private placement, for gross
proceeds of $3.225 million. Mystique will renounce Canadian Exploration
Expenses to subscribers who will be entitled to claim deductions for income
tax purposes in the 2006 taxation year equal to 100% of their subscription
amount. The private placement will be offered on a best efforts basis by
Acumen Capital Finance Partners Limited. Acumen has an option exercisable
prior to closing, to increase the size of the financing by a further 2.5
million flow-through shares for additional gross proceeds of $1.075 million.
Closing of the financing is expected to occur on or about July 13, 2006 and is
subject to the normal regulatory approvals.
Proceeds of the financing will be used to fund Mystique's continuing
drilling program on its farm-in lands in the
Harmattan/Lochend/Bottrell/Wildcat Hills areas which are located northwest of
Calgary. Mystique is planning to drill 22 wells during 2006 with the drilling
rig that it presently has under contract, and a second rig that is expected to
be contracted to start drilling in late July. Presently, the fifth well of the
2006 program is being drilled; the first four wells have been cased. Of these
four wells, one is on production and the other three are being completed.
Prior to the 2006 program, from late 2004 to the end of 2005, Mystique has
drilled nine successful wells in these areas, six of which are on production,
one is waiting on a flowline tie-in and two are waiting on
completion/recompletion operations.

Based in Calgary, Mystique is a growing company engaged in the
exploration and exploitation of petroleum reserves in western Canada.

The TSX Venture Exchange does not accept responsibility for the adequacy
of this release.

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