Samoth Announces Private Placement

NOT FOR DISTRIBUTION IN THE UNITED STATES OR THROUGH UNITED STATES WIRE SERVICES 

Samoth Oilfield Inc. ("Samoth" or the "Corporation") (TSX VENTURE:SCD) is
pleased to announce a non-brokered private placement for gross proceeds of up to
$500,000 (the "Private Placement").


Pursuant to the Private Placement, which is subject to acceptance by the TSX
Venture Exchange, Samoth intends to issue, pursuant to applicable exemptions
from registration and prospectus requirements of Canadian securities laws, up to
10,000,000 Common Share Units (the "Units) at a price of $0.05 per Unit. Each
Unit is comprised of one Common Share and one Common Share Purchase Warrant
(each a "Warrant"). Each Warrant entitles the holder to purchase one additional
Common Share of Samoth at an exercise price of $0.05 for a period of two (2)
years from the date of issuance of the Units. 


The proceeds from the Private Placement will be used for the purposes of
potential asset acquisition(s), reserves evaluation and for general working
capital.


READER ADVISORY

Statements in this press release may contain forward-looking information
including, statements regarding expected use of proceeds. Any statements that
are contained in this press release that are not statements of historical fact
may be deemed to be forward-looking statements. The reader is cautioned that
assumptions used in the preparation of any forward-looking information may prove
to be incorrect. Events or circumstances may cause actual results to differ
materially from those predicted, as a result of numerous known and unknown
risks, uncertainties, and other factors, many of which are beyond the control of
Samoth. The reader is cautioned not to place undue reliance on any
forward-looking information. There can be no assurance that the proposed private
placement will be completed. The forward-looking statements contained in this
press release are made as of the date of this press release, and Challenger does
not undertake any obligation to update publicly or to revise any of the included
forward-looking statements, whether as a result of new information, future
events or otherwise, except as required by securities law.


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Samoth Oilfield Inc.
Leonard D. Jaroszuk
President and Chief Executive Officer
[phone]
[phone] (FAX)
[e-mail]