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Drillmar Oil&Gas announced that it has taken over operatorship and interest in well located in Starr County, Texas. The well was drilled and cased by another operator who filed for bankruptcy. The Court recently approved the sale to Drillmar of a 29% interest from the Debtor and the appointment of Drillmar as the new operator. On 2/27/08 the target zone at 7,100 feet was perforated and flow tested at apprx 500Mcf/d. Under the Court agreement certain creditors are entitled to a portion of the cash flow from the well until the liens are amortized. This deal was attractive as it allowed the Company to test a zone for a fraction of the original cost. Furthermore, it is in a general area where Drillmar Oil&Gas is active and may open up additional opportunities.

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.