Redcliffe Closes Private Placement Financing

THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR TO U.S. PERSONS.

Redcliffe Exploration Inc. ("Redcliffe" or the "Corporation") (TSX
VENTURE:RXP.A) (TSX VENTURE:RXP.B) announces that it has closed its previously
announced brokered private placement financing with a syndicate of underwriters
led by Northern Securities Inc., and including GMP Securities L.P., Raymond
James Ltd. and Emerging Equities Inc., for aggregate gross proceeds of
$6,580,575. As a result, the Corporation issued 6,510,137 units (the "Units") at
$0.55 per Unit, and 4,545,454 flow-through Class A shares (the "Flow-Through
Shares") at a price of $0.66 per Flow-Through Share. Each Unit is comprised of
one (1) Class A share (the "Shares") and one-half (1/2) of a non-transferable
Share purchase warrant (the "Warrants"). Each whole Warrant will entitle the
holder to acquire an additional Share at an exercise price of $0.70 for a period
of twelve (12) months following the closing date of the offering. The securities
issued under the offering are subject to a four month hold period, expiring on
August 31, 2008.


Proceeds from the Unit offering will be used to fund the Corporation's ongoing
drilling program in its core focus areas and for general corporate purposes.
Proceeds from the Flow-Through Share offering will be used to incur qualifying
expenditures.


Redcliffe is a Calgary, Alberta based company engaged in the exploration for,
and development and production of conventional crude oil and natural gas
reserves in western Canada. Redcliffe's strategy is to build shareholder value
through internally generated exploration and development drilling, and through
selective acquisitions. Redcliffe's areas of operational focus include the Peace
River Arch and Pembina areas of Alberta.


Forward-Looking Statements: This news release contains statements about future
events that are forward looking in nature and, as a result, are subject to
certain risks and uncertainties such as changes in plans or the occurrence of
unexpected events. Actual results may differ from the estimates provided by
management.