Exxel Energy Corp. Announces Effective Date of Share Consolidation, Name Change, and the Filing of Its Interim Financial Stateme

Share Consolidation and Name Change

Exxel Energy Corp. (TSX VENTURE:EXX) ("Exxel" or the "Company") announces that
effective today, the Company's shares will be consolidated on the basis of
twenty (20) old shares for one (1) new share (the "Share Consolidation"). The
Share Consolidation was approved by the Company's shareholders at the Company's
Special General Meeting held on April 4, 2008. In addition, effective today, the
Company's name will change from "Exxel Energy Corp." to "XXL Energy Corp." (the
"Name Change"). The Name Change was previously approved by the Company's board
of directors. The Company intends to file Articles of Amendment in relation to
the Name Change on or about May 30, 2008. Both the Share Consolidation and the
Name Change have been approved by the TSX Venture Exchange.


Immediately prior to the commencement of trading this morning, the Share
Consolidation and Name Change will occur and the Company's trading symbol will
change from "EXX" to "XL". Concurrently, the Company's website address will
change from www.exxelenergy.com to www.xxlenergy.com.


Notice was previously sent to to all warrant and stock option holders describing
how the Share Consolidation will affect the number of shares and the exercise
price per share under each holder's warrants or stock options. No actions, such
as the delivery of warrant certificates or stock option agreements, are required
to be taken by holders of warrants or stock options in connection with the Share
Consolidation. The Company also entered into a first supplemental indenture
effective May 30, 2008 (the "First Supplemental Indenture") to the common share
purchase warrant indenture dated August 8, 2007 (the "Warrant Indenture")
between the Company and Computershare Trust Company of Canada. The First
Supplemental Indenture reflects the Name Change and makes the necessary
adjustments to the exercise price and the number of common shares issuable under
the Warrant Indenture to reflect the Share Consolidation.


Registered shareholders of the Company as at the conclusion of trading on May
29, 2008 (collectively, the "Registered Shareholders") are required to deliver
their Exxel common share (the "Old Common Shares") certificates to the Company's
registrar and transfer agent, Computershare Investor Services Inc.
("Computershare"). Computershare will then exchange the Old Common Share
certificates for XXL Energy Corp. common share (the "New Common Shares")
certificates on the basis of twenty Old Common Shares for every one New Common
Share. A letter of transmittal for the exchange of the shares (the "Letter of
Transmittal") has been or will be sent to all Registered Shareholders. To
receive New Common Shares and New Common Share certificates, Registered
Shareholders should follow the instructions set out in the Letter of Transmittal
and send their Old Common Share certificates, together with the Letter of
Transmittal, to Computershare. Computershare will then deliver, via regular
mail, a certificate representing the New Common Shares to which the Registered
Shareholder is entitled to receive in accordance with the instructions given in
the Letter of Transmittal. If you are a beneficial shareholder (i.e. you hold
your shares through a brokerage account), your broker needs to coordinate
distribution of the New Common Shares and the New Common Share certificates to
you and as such, you may wish to contact your broker to ensure that your share
and share certificate exchange has occurred.


Filing of Interim Financial Statements and MD&A

Exxel announces that it has filed its interim financial statements for the three
month period ended March 31, 2008 and the accompanying management's discussion
and analysis.


These filings are available for review at www.sedar.com and will be made
available on the Company's new website at www.xxlenergy.com.


About Exxel Energy Corp.

Exxel, headquartered in Houston, is an independent oil and gas exploration and
development company focused in the Greater Green River Basin of Wyoming, the
Columbia River Basin of Washington, the Piceance Basin of Colorado, the Great
Basin of Nevada, and the Williston Basin of North Dakota.


In the interests of providing Company shareholders and potential investors with
information regarding the Company, including the Company's assessment of its and
its subsidiaries' future plans and operations, certain statements included in
this press release may constitute forward-looking information or forward-looking
statements (collectively, "forward-looking statements"). All statements
contained herein that are not clearly historical in nature are forward-looking,
and the words "anticipate", "believe", "expect", "estimate" and similar
expressions are generally intended to identify forward-looking statements.
Similarly, forward-looking statements in this press release include, but are not
limited to anticipated developments of the Company's drilling project in and the
timing thereof, the Company's drilling project in and the timing thereof,
capital investment levels and the allocation thereof, pipeline capacity,
government royalty rates, reserve and resources estimates, the level of
expenditures for compliance with environmental regulations, site restoration
costs including abandonment and reclamation costs, exploration plans,
acquisition and disposition plans including farmout plans, net cash flows,
geographic expansion and plans for seismic surveys.

In addition, please note that statements relating to "reserves" or "resources"
are deemed to be forward-looking statements, as they involve the implied
assessment, based on certain estimates and assumptions, that the reserves and
resources described can be profitably produced in the future. Such statements
represent the Company's internal projections, estimates or beliefs concerning,
among other things, an outlook on the estimated amounts and timing of capital
expenditures, anticipated future debt levels and incentive fees or revenues or
other expectations, beliefs, plans, objectives, assumptions, intentions or
statements about future events or performance. These statements are only
predictions. Actual events or results may differ materially. Although the
Company believes that the expectations reflected in the forward-looking
statements are reasonable, it cannot guarantee future results, levels of
activity, performance or achievement since such expectations are inherently
subject to significant business, economic, competitive, political and social
uncertainties and contingencies. Many factors could cause the Company's actual
results to differ materially from those expressed or implied in any
forward-looking statements made by, or on behalf of, the Company and the
foregoing list of important factors is not exhaustive. These forward-looking
statements are made as of the date hereof disclaims any intent or obligation to
update publicly any forward-looking statements, whether as a result of new
information, future events or results or otherwise. Company shareholders and
potential investors should carefully consider the information contained in the
Company's filings with Canadian securities administrators at www.sedar.com
before making investment decisions with regard to the Company.