Georgetown, Cayman Islands - December 2, 2007

Drillmar Oil & Gas, Inc. a wholly owned subsidiary of Drillmar Energy Inc, announced the commencement of drilling of the Bourque #1 well in Iberville Parish in Louisiana. This is a re-entry of a wellbore which was drilled to approx. 10,500 feet. The well was cased to 9,500 feet and was temporarily abandoned 300 feet before reaching a 15 Bcf prospect due to drilling problems. The Company subsequently acquired the prospect on favorable terms and has promoted partners to participate in the well.

Drillmar Energy is focused on drilling opportunities where casing drilling can add value. This is a good example where casing drilling allows the Company to explore a prospect that was prematurely abandoned by another company due to drilling problems related to conventional drilling This project bears more geological risk than most of the prospects in our inventory. This risk is offset by the significant investment made by the previous owner and therefore provides very attractive upside relative to the incremental cost associated with completing the drilling of this well.

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.