Zapata Energy Corp.

NEW, Zapata Energy Corp., Calgary, (Toronto Venture: ZCO) has retained Kobayashi Partners Ltd. to review its asset base and assist in evaluating alternatives to maximize shareholder value. A strategic review of the Zapata portfolio along with an updated evaluation of reserves will commence immediately. Currently, Zapata's net production is approximately 3,350 barrels of oil equivalent per day, while 350 barrels equivalent per day is in the process of being tied in. The corporation has commenced a 17-well drilling program and the initial well has been cased as a potential gas well. For more information, contact Ross Kobayashi, 403-298-9728