Galileo Petroleum Completes Debt Settlement

Galileo Petroleum Ltd. (TSX VENTURE:GPL) (the "Company") announces that it has
issued a total of 5,613,080 common shares of the Company at a deemed issue price
of $0.05 per share to certain creditors of the Company in settlement for certain
debts owed by the Company in the total amount of $280,654 (the "Shares for Debt
Settlement").


The common shares issued pursuant to the Shares for Debt Settlement are subject
to a hold period that expires on October 26, 2014.


The securities of the Company and the common shares issued pursuant to the
Shares for Debt Settlement have not and will not be registered under the United
States Securities Act of 1933, as amended (the "1933 Act"), or the securities
laws of any state of the United States, and may not be offered or sold in the
United States absent registration or an applicable exemption therefrom under the
1933 Act and the securities laws of all applicable states.


ON BEHALF OF GALILEO PETROLEUM LTD.

David Hottman, President and CEO

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this News Release. This news
release has been prepared by management and no regulatory authority has approved
or disapproved the information contained herein.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Galileo Petroleum Ltd.
David Hottman
President & CEO
604-629-1929
[e-mail]