Exceed Announces $2 Million Flow-Through Financing

Exceed Energy Inc. ("Exceed" or the "Corporation") (TSX VENTURE:EX.A) (TSX
VENTURE:EX.B) is pleased to announce that it has entered into an engagement
agreement with Integral Wealth Securities Limited as lead agent (the "Agent") to
complete a private placement on a commercially reasonable efforts basis, for the
issuance of up to 8,000,000 Class A common shares of the Corporation to be
issued on a flow-through basis (the "Flow-Through Shares") at a purchase price
of $0.25 per share for gross proceeds of up to $2,000,000 (the "Offering").


Completion of this financing is subject to the receipt of all necessary
regulatory approvals and is expected to close in mid October 2007. The
Flow-Through Shares will be subject to a four month hold period.


The Corporation will pay the Agent a cash commission of 7% of the gross proceeds
of the Offering and will grant the Agent options (the "Options") equal in number
to 7% of the total number of Flow-Through Shares sold in the Offering. Each
Option will entitle the Agent to purchase one Class A common share of the
Corporation for a period of 12 months from the closing of the Offering at a
price of $0.25.


The proceeds of the Offering will be used to conduct oil and gas exploration in
Canada.


Exceed Energy Inc. is a Calgary based emerging oil and gas company engaged in
the development and exploration of oil and gas reserves in western Canada.
Exceed's Class A and Class B shares trade on the TSX Venture Exchange under the
symbols "EX.A" and "EX.B" respectively.


Forward Looking Statements

This press release may contain forward-looking statements including expectations
of future production, cash flow and earnings. These statements are based on
current expectations that involve a number of risks and uncertainties, which
could cause actual results to differ from those anticipated. These risks
include, but are not limited to: the risks associated with the oil and gas
industry (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 projects relating to production, costs and expenses, and
health, safety and environmental risks), commodity price, 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. Additional information on these and other factors that could
affect Exceed's operations or financial results are included in Exceed's reports
on file with Canadian securities regulatory authorities that may be accessed at
www.sedar.com.