Excelsior Energy Company News

Excelsior has completed this winter's core well delineation program on the Hangingstone property. A total of 29 wells were drilled further delineating three of five areas that encountered thick net bitumen pay.

Excelsior Energy Limited has closed a $1 million private placement in its North Sea subsidiary, NorthseaCo. NorthseaCo has appointed a new board of directors.

Excelsior, an early stage oil sands exploration and development company, has chosen Paradigm Strategic Consulting to accelerate development planning at its Hangingstone oil sands resource play in the Athabasca oil sands region of Alberta.

Excelsior Energy Limited has completed its drilling programs at Hangingstone and West Surmont in the Athabasca oil sands region of Alberta.

Excelsior Energy Limited announced that Richard A. Grafton has been appointed to the Board of Directors effective March 17, 2008.

Excelsior Energy says that seismic operations have commenced at the West Surmont Property in the Athabasca Oil Sands Area of Alberta.

Excelsior Energy has reached agreement with Xcite Energy Resources Limited to extend the Financial Closing Date under the Farm-in Agreement relating to License P.1078 Block 9/3b in the UK North Sea from September 30, 2006 to November 30, 2006.