Hyperion Exploration Corp. Completes Sale of Non-Core, Chip Lake Assets

Hyperion Exploration Corp. ("Hyperion" or the "Corporation") (TSX VENTURE:HYX)
announces that it has completed the previously announced disposition of 100
boe/d of non-core, gas weighted production in the Chip Lake Area of Central
Alberta for cash consideration of $3.4 million (the "Disposition"). Proceeds
from the Disposition will be used to reduce Hyperion's bank debt.


Forward Looking and Cautionary Statements

Barrels of oil equivalent (boe) may be misleading, particularly if used in
isolation. A boe conversion ratio of six thousand cubic feet (mcf) of natural
gas to one barrel (bbl) of oil is based on an energy conversion method primarily
applicable at the burner tip and is not intended to represent a value
equivalency at the wellhead. All boe conversions in this press release are
derived by converting natural gas to oil in the ratio of six thousand cubic feet
of natural gas to one barrel of oil. Certain financial amounts are presented on
a per boe basis, such measurements may not be consistent with those used by
other companies.


Neither the TSX Venture Exchange nor its Regulation Services Provider (as the
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Hyperion Exploration Corp.
Trevor Spagrud
President and CEO
[phone]
[e-mail]