Texalta Grants Options

Texalta Petroleum Ltd. ("Texalta") (TSX VENTURE:TEX.A) is pleased to announce
that it has granted incentive stock options allowing for the purchase of a total
of 1,000,000 common shares at a price of $0.16 per share. The options will have
a term of 5 years with an expiry date of March 24, 2014.


The Company also announces that its Investor Relations Agreement with
MarketSmart Communications Inc. will terminate on March 31, 2009 and will not be
renewed at this time. All shareholders and interested parties are invited to
contact the Company directly and to visit the website at www.texalta.com.


TEX.A is a Calgary based company engaged in the exploration, acquisition and
development of prospective oil & gas properties in Saskatchewan and Alberta,
Canada. The company's wholly owned subsidiary, Texalta Australia Pty. Ltd. holds
82 percent working interest in two exploration permits covering in excess of 5.5
million acres of prospective land in the Georgina Basin, Northern Territory,
Australia.