Texalta Petroleum Ltd.: Saskatchewan Operations Update

CALGARY, ALBERTA - Texalta Petroleum Ltd. ("Texalta") (TSX VENTURE:TEX.A - News) is pleased to report that a second horizontal well located on the north side of the Wordsworth prospect area has been drilled to a total depth of 1827 meters. During the drilling, two oil saturated zones from 1400 m to 1640 m and from 1660 m to 1880 m were encountered. These intervals correspond in depth to the oil zone in the recently completed HZ 2-23 well located about 1 mile south. The well is presently being completed, however operations have been hampered by extremely wet conditions.

Further seismic work is planned for the Wordsworth project area and additional wells will be located south of this latest well.

The Company has licenced a horizontal well at West Wildwood, Saskatchewan and drilling operations should start during the latter part of June 2007. The details of this project area are described in the 2006 Annual Report which is available on the website at www.texalta.com.

The recently drilled 4A9-25 / 3A15-25-6-2 W2 horizontal well at West Queensdale swab tested oil at rates over 130 bbl/d. This well has been placed on production however high initial gas production rates interfere with accurate oil measurements. It is hoped the well will stabilize in the weeks ahead to be similar to the recently completed HZ 1A9-25 / 2C1-25-6-2 W2 well located 1/2 mile south.

Planning for two additional horizontal development wells in the West Queensdale project area are underway.

TEX.A is a Calgary based company engaged in the exploration, acquisition and development of prospective oil & gas properties in Saskatchewan and Alberta, Canada. The company holds 100 percent working interest in two exploration permits covering in excess of 5.5 million acres of prospective land in the Georgina Basin, Northern Territory, Australia.

This press release may include certain forward-looking statements. These statements are based on current expectations that involve a number of risks and uncertainties, which could cause actual results to differ from those anticipated.

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

Contact:

Mr. William H. Nixon
Texalta Petroleum Ltd.
President
(403) 255-8380
(403) 255-8007 (FAX)
Email: texalta@texalta.com m
Website: www.texalta.com

Mr. Michael Starogiannis, P.Eng, MBA
First Canadian Capital Corp.
Vice-President, Investor Relations
(416) 742-5600 or Toll Free: 866-580-8891
Email: mstarogiannis@firstcanadiancapital.com

Source: Texalta Petroleum Ltd.

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