New Sage Energy Announces Proposed New Financing

New Sage Energy Corp. (TSX VENTURE:NSG) ("New Sage" or the "Corporation") is
pleased to announce that it intends to use its commercially reasonable efforts
to complete a non-brokered private placement (the "Private Placement"), in one
or more closings, of up to $575,000 in gross proceeds consisting of up to
11,500,000 units at a price of $0.05 per unit (the "Unit"). 


Each Unit will consist of one common share in the capital of the Corporation
(the "Common Shares") and one-half of one warrant (the "Warrant"), with each
whole Warrant entitling the holder thereof to purchase one Common Share at a
price of $0.10 per share for a period of 18 months from the date of closing. 


The Corporation intends to use the net proceeds from the private placement for
new projects, acquisitions and development, as well as for general working
capital and the payment of expenses related to the Private Placement.


Completion of the Private Placement will be subject to certain conditions
precedent including, but not limited to, the receipt of all necessary approvals,
including the approval of TSX Venture Exchange Inc. ("TSX Venture").


The Common Shares and Warrants will be subject to a four-month hold period, in
accordance with applicable securities law.


About New Sage

New Sage is a Canadian oil and gas exploration and development company with a
focus on opportunities in the US Gulf States region and Latin America. New Sage
is building a portfolio of production, through exploration and development
opportunities, with established joint venture partners.


Forward-Looking Statements 

This news release contains forward-looking statements that involve risks and
uncertainties. Forward-looking statements or information are based on current
expectations, estimates and projections that involve a number of risks and
uncertainties which could cause actual results to differ materially from those
anticipated by New Sage. The forward-looking statements or information contained
in this news release are made as of the date hereof and New Sage does not
undertake any obligation to update publicly or revise any forward-looking
statements or information, whether as a result of new information, future events
or otherwise, unless so required by applicable securities laws. 


The securities of New Sage being offered have not been, nor will be, registered
under the United States Securities Act of 1933, as amended, and may not be
offered or sold within the United States or to, or for the account or benefit
of, U.S. persons absent U.S. registration or an applicable exemption from U.S.
registration requirements. This release does not constitute an offer for sale of
securities in the United States.