Canoel Announces Second Tranche Closing of Private Placement of Units

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Canoel International Energy Ltd.  ("Canoel" or the "Company") (TSX VENTURE:CIL)
is pleased to announce, subject to regulatory approval, the completion of the
second tranche of a non-brokered private placement of units ("Units"). Canoel
issued an aggregate of 3,333,000 Units in this second tranche at a price of
$0.06 per Unit for gross proceeds of approximately $199,980.


Each Unit consists of one common share in the capital of Canoel and one common
share purchase warrant. Each common share purchase warrant entitles the holder
thereof to purchase, subject to adjustment, one additional common share at an
exercise price of $0.10 per share at any time on or before the date that is 24
months from the date of issuance of the common share purchase warrant. 


In connection with this second tranche of the private placement, the Company
will pay aggregate finder's fees of $15,998.40 in cash.


Unless permitted under securities legislation, the holders of these securities
must not trade the security before April 7, 2013. 


The proceeds from this offering will be used to finance the Company's operations
and to augment its unallocated working capital. This transaction is subject to
the submission of final documentation and final approval of the TSX Venture
Exchange.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Canoel International Energy Ltd.
Jose Ramon Lopez Portillo
Chairman of the Board
[phone]
[phone] (FAX)
[e-mail]