Drillmar acquires producing property in Texas  
 

Georgetown, Cayman Islands - January 28, 2008

Drillmar Energy Inc’s wholly owned subsidiary Drillmar Oil&Gas Inc.  today acquired the South Alvin Field in Brazoria County,  Texas. The property has 2 producing wells, 1 inactive well and 1 salt water disposal well.  Furthermore, there are additional identified drilling locations as well as a large number of smaller stacked pay zones. “This acquisition fits well in our strategy to establish an attractive portfolio in a defined geographical area that provides for upside through recompletions and additional drilling” stated Chief Operating Officer David McCarver.

For further information contact Haavard Strommen, Chief Financial Officer 345-925-1768 or visit the Company's website at www.drillmar.com

Drillmar Energy Inc is an oil and gas exploitation and production company. In the US, Drillmar Energy Inc is operating through its wholly owned subsidary Drillmar Oil & Gas Inc. Drillmar's strategy is to exploit the use of non-traditional drilling techniques and technologies.  These techniques and technologies include casing drilling, managed pressure drilling and certain petrophysical/geophysical reprocessing and remapping.  We have consistently made significant improvements in the efficiency and cost of developing oil and gas reserves for BP, Shell, PDVSA, PEMEX and Apache as well for our own account. We are currently qualified operator in Texas and Louisiana and have established appealing production and/or acreage positions in those states.

Forward-Looking Statement. This news release may contain certain forward-looking statements including declarations regarding Drillmar Energy Group and its subsidiaries' expectations, intentions, strategies and beliefs regarding the future. All statements contained herein are based upon information available to Company management as of the date hereof, and actual results may vary based upon future events, both within and without the control of management, including risks and uncertainties that could cause actual results to differ materially including, among other things, the impact that acquisitions may have on the company and its capital structure, exploration results, market conditions, oil and gas price volatility, uncertainties inherent in oil and gas production operations and estimating reserves, unexpected future capital expenditure requirements, competition, governmental regulations and other factors.