Cobra Venture Corporation Announces Sale of Saskatchewan Assets

Cobra Venture Corporation (the "Corporation") (TSX VENTURE:CBV) is pleased to
announce that, subject to regulatory body and shareholder approval, the
Corporation has agreed to sell all of its freehold mineral and royalty interests
in the Province of Saskatchewan for an amount of $5,250,000, subject to usual
industry adjustments, effective as of January 1, 2012. The Corporation is
expected to call a special meeting of shareholders of the Corporation in early
2012 to consider, and if deemed fit, to approve this sale transaction which is
anticipated to close on or about February 1, 2012.


About Cobra Venture Corporation

Cobra Venture Corporation is an emerging energy corporation focused on the
acquisition and development of strategic oil and natural gas reserves in Western
Canada. Common shares of the corporation trade on the TSX Venture Exchange under
the symbol CBV. 


Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of
applicable Canadian securities legislation. The words "could", "plan", "expect",
"estimate", "anticipate", "project", "predict", "intend", "may", "potential",
"believe" and similar expressions and variations thereof are forward-looking
statements. These include, but are not limited to, statements respecting
anticipated business activities, the future anticipated sale of certain
petroleum and natural gas assets and any other statements that are not
historical facts. Statements in this release that are forward-looking statements
are subject to various risks and uncertainties including, but not limited to,
the ability to obtain regulatory body and shareholder approval in respect of the
proposed transaction and such specific factors disclosed under the heading "Risk
Factors" in the Corporation's periodic filings with Canadian securities
regulators. Although the Corporation believes that its expectations reflected in
these forward-looking statements are reasonable, such statements involve risks
and uncertainties and no assurance can be given that actual results will be
consistent with these forward-looking statements. Such information contained
herein represents management's best judgment as of the date hereof based on
information currently available. The reader is cautioned not to place undue
reliance on forward-looking statements. The Corporation undertakes no obligation
to publicly revise these forward-looking statements to reflect events or
circumstances that arise after the date of this release. You should carefully
review the cautionary statements and risk factors contained herein and in the
documents that we file from time to time with the Canadian securities
regulators.