Fortune Energy Inc.

Fortune Energy Inc. has retained Rundle Energy Partners Ltd. to sell certain oil and gas assets in the Trout and Widewater areas of north-central Alberta. The package includes an average 65% working interest in more than 9,000 gross acres in Townships 89 to 90 and Ranges 3 to 4W5. February 2008 production from the Trout assets was 335 barrels of oil per day from multiple horizons in several operationally contiguous Keg River carbonate oil pools. At Widewater, Fortune owns operated interests in five producing oil wells with February 2008 production of 40 barrels of oil per day from the Gilwood sand. The Widewater properties also include a water disposal well and gathering and processing facilities, all of which have capacity for increased production. Located in Townships 72 to 73 and Range 7W5, the properties consist of an average 35% working interest in 4,000 gross acres. Combined annualized cash flow is approximately C$8 million. Proved plus probable reserves are estimated to be 1.7 million barrels equivalent to Trout and 77,000 barrels equivalent to Widewater. The bid due date is May 27. Contact Mark McMurray, 403-298-9727.