Stealth Continues to Grow Shale Gas Production and Signs Farm-in Agreement for Nova Scotia Coal Bed Methane Properties

Stealth Ventures Ltd. announce an increase in gas production from that reported previously, primarily due to tie-in operations on its current 70 well program at Wildmere, Alberta. Since the inception of the play in early 2006 Stealth has progressed from a conceptual technology play to a commercial producing asset, and production growth is now the focus of the Company.

The current drilling program began July 3rd, 2008 and is currently under the budgeted $350,000 full cycle cost per well, with 63 wells drilled, 30 completed, and 19 tied-in and producing to date. The Company’s estimated production is currently increasing past 3.0MMcf/d (raw) from the Wildmere field. Corporate production is 440 (net) BOE/D. The Company will bring on the majority of new production during the fourth quarter.

Stealth has signed a letter of intent to farm-out a working interest in its Nova Scotia Coalbed Methane (CBM) properties to a new private Canadian oil and gas company. This multi-year joint venture will enable the Company to advance towards commercializing the 1.6 TCF of net discovered CBM resource booked on its two Nova Scotia onshore basins. Stealth will continue to operate the properties.

Stealth Ventures Ltd. is a Calgary-based junior oil and gas company whose expertise and focus is on “unconventional” gas reserves from shale gas, CBM and tight gas sand reservoirs.