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EDEX News Eldorado Exploration New Mexico Discovery

IRVINE, Calif.--(BUSINESS WIRE)--Eldorado Exploration, Inc. (PINK SHEETS:EDEX) announced today that the Mesa #1 well in Roosevelt County, New Mexico reached a total depth of 7062’.

The well reached its total depth after 35 days of drilling, at which time, the Halliburton Company was brought in to log the well. After evaluating the results, the drilling rig was released and a completion rig will be ordered for further testing and completion, if the multiple oil and gas zones identified prove to be productive.

“At 7025 feet, the Granite Wash is the deepest potential oil zone and the logical first completion should testing verify the initial drilling results,” stated David T. (Tom) Laurance, the company’s President. Gas well spacing will be 160 acres per well and oil wells can be drilled on 40 acre spacing. Eldorado has a net 33% working interest in 11,300 net acres covering the Mesa Field.

Eldorado Exploration, Inc. is an independent oil and gas company that utilizes a process called Passive Induced Polarization ‘PIP’ to detect electrostatic signals given off of some geological anomalies. In most cases a positive response indicates a hydrocarbon accumulation and a negative reading almost is always a dry hole. When used with the standard geological tools and methods, the PIP process enhances the odds of success for discovering oil and gas.

For further information about the company visit www.eldoradoexploration.com or email at eldoex@yahoo.com.

Please be advised that statements made herein, other than historical data, constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, potential volatility in the company’s stock price, increased competition, customer acceptance of new products and services offered by the company, and uncertainty of future revenue and profitability and fluctuations in its quarterly operating results. Please also be advised that Eldorado Exploration is a non-reporting Pink Sheets company and is not required to be registered with the Securities and Exchange Commission.