Columbus Energy Sells Its 5% Interest in Columbus Oil and Gas

Columbus Energy Limited (TSX VENTURE:CEL) has entered into an agreement, subject
to regulatory approval, to sell its 5% interest in Columbus Oil and Gas to
Robert Charles Laslett for a cash payment of US$42,500 and US$2,975,000 in
royalty payments from production of the Isis Oil Field as follows:




1.  A royalty of US$0.275 per barrel of crude oil production in excess of
    four million barrels but less than six million barrels providing the
    Brent price during each quarterly period averages over US$70 per barrel
    up to a maximum amount payable of $555,000. 

2.  A royalty of US$0.495 per barrel of crude oil production in excess of 6
    million barrels up to a maximum payable under the agreement of
    US$2,420,000.



Mr. Laslett is the majority shareholder in British Virgin Islands Business
Company Columbus Oil and Gas which has a 100% interest in Columbus (Tunisia) Oil
and Gas, Inc. organized and existing under the laws of Tunisia.


Columbus Energy Limited purchased a 5% interest in Columbus Oil and Gas in July
2007 for cash payments of US$1,100,000 as per its news release of July 05, 2007
and as amended in its news release of October 26, 2007.


The Company has negotiated, subject to regulatory approval, a 20,000,000 unit
private placement at $0.05 per unit to gross $1,000,000. Each unit will consist
of one common share and a transferable five year purchase warrant allowing the
purchaser to purchase an additional share at a price of $0.10. A finder's fee
will be paid on a portion of the placement.


The Company is negotiating the terms and conditions with a European Company to
make application and acquire a Coal property in Europe. Further details will be
announced after the negotiations have completed.


This news release includes certain "forward-looking statements". All statements
other than statements of historical fact included in this release, including,
without limitation, statements regarding potential mineralization, exploration
results and future plans and objectives of the Company are forward-looking
statements that involve various risks and uncertainties. There can be no
assurance that such statements will prove to be accurate and actual results and
future events could differ materially from those anticipated in such statements.
Important factors that could cause actual results to differ materially from the
Company's expectations include market prices, exploitation and exploration
results, availability of capital and financing, general economic, market or
business conditions, uninsured risks, regulatory changes, defects in title,
availability of personnel, materials and equipment, timeliness of government
approvals, unanticipated environmental impacts on operations and other
exploration risks detailed herein and from time to time in the filings made by
the Company with securities regulators. The Company expressly disclaims any
intention or obligation to update or revise any forward-looking statements.