Culane Energy Announces Bought Deal Flow-Through Financing

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES


Culane Energy Corp. (TSX VENTURE:CLN) ("Culane"or the "Company") has entered
into an agreement with Jennings Capital Inc. ("Jennings") pursuant to which
Culane has agreed to issue 1,395,349 common shares to be issued on a "flow
through" basis ("Flow-Through Shares") at an issue price of $2.15 per
Flow-Through Share for gross proceeds to Culane of approximately $3 million (the
"Offering").


The Offering is scheduled to close on or about September 29, 2009 and is subject
to certain conditions including, but not limited to, the receipt of all
necessary approvals, including the approval of the TSX Venture Exchange.


Gross proceeds from the sale of the Flow-Through Shares will be used to fund
ongoing exploration activities eligible for Canadian exploration expenses which
will be renounced in favour of the subscribers of the Flow-Through Shares
effective on or before December 31, 2009. The Offering is to be completed by way
of private placement exemptions, as provided for in the Securities Act (Alberta)
and comparable provisions in other provinces in Canada, and is subject to
applicable regulatory hold periods.


About Culane Energy Corp.

Culane is a junior oil and gas company engaged in the exploration, development
and production of oil and natural gas in Alberta.


This press release contains forward-looking statements. More particularly, this
press release contains statements concerning the anticipated date for the
closing of the Offering and the anticipated use of proceeds therefrom. The
forward-looking statements contained in this document are based on certain key
expectations and assumptions made by Culane, including: (i) with respect to the
anticipated closing date of the Offering, expectations and assumptions
concerning timing of receipt of required approvals and the satisfaction of other
conditions to the completion of the Offering and (ii) with respect to the
anticipated use of proceeds from the Offering. Although Culane believes that the
expectations and assumptions on which the forward-looking statements are based
are reasonable, undue reliance should not be placed on the forward-looking
statements because Culane can give no assurance that they will prove to be
correct. Since forward-looking statements address future events and conditions,
by their very nature they involve inherent risks and uncertainties. Actual
results could differ materially from those currently anticipated due to a number
of factors and risks. These include, but are not limited to, the failure to
obtain necessary regulatory approvals or satisfy the conditions to closing the
Offering, risks associated with the oil and gas industry in general (e.g.,
operational risks in development, exploration and production; delays or changes
in plans with respect to exploration or development projects or capital
expenditures; the uncertainty of reserve estimates; the uncertainty of estimates
and projections relating to production, costs and expenses, and health, safety
and environmental risks), commodity price and exchange rate fluctuations and
uncertainties resulting from potential delays or changes in plans with respect
to exploration or development projects or capital expenditures. Certain of these
risks are set out in more detail in Culane's Annual Information Form which has
been filed on SEDAR and can be accessed at www.sedar.com. The forward-looking
statements contained in this document are made as of the date hereof and Culane
undertakes no obligation to update publicly or revise any forward-looking
statements or information, whether as a result of new information, future events
or otherwise, unless so required by applicable securities laws.


The securities being offered have not been and will not be registered under the
U.S. Securities Act of 1933, as amended, and may not be offered or sold in the
United States absent registration or applicable exemption from the registration
requirements. This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the securities in
any jurisdiction in which such offer, solicitation or sale would be unlawful.