Media and Press Releases 2007

Arsenal Announces Increase and Completion of Private Placement of Flow-Through Shares

Arsenal Announces Closing of Second Tranche of Private Placement of Flow-Through Shares and Acquisition of Core Properties

Arsenal Announces Private Placement of Flow-Through Shares

Arsenal Announces Third Quarter 2007 Operating and Financial Results

Arsenal Energy Releases Results From Its EVI Drilling Program

Arsenal Appoints Tony Van Winkoop as Interim President & CEO

Arsenal Announces Changes to Board of Directors

Arsenal Sells Interest in Tower Creek for $14 Million

Arsenal Announces First Quarter 2007 Operating and Financial Results

Arsenal Completes Drilling of Narmer-1 Well in Egypt

Arsenal Updates Egyptian Drilling Program

Arsenal Announces 2006 Operating and Financial Results and Filing of Year End Disclosure Forms

Arsenal Initiates Egyptian Drilling Program

Arsenal Increases Land Position in Northern Alberta

Arsenal Secures Drilling Rig for Egyptian Program

Arsenal Announces Achievement Of 2006 Exit Production Target