NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES


Culane Energy Corp. ("Culane") (TSX VENTURE:CLN) is pleased to announce that
Culane has entered into an agreement with RBC Capital Markets for the private
placement, on an underwritten basis, of 2,250,000 "flow-through" common shares
(the "Flow-Through Shares") of the Company at a price of $1.45 per Flow-Through
Share for gross proceeds of $3,262,500 (the "Offering").


The gross proceeds from the Offering will be used to fund ongoing exploration
activities eligible for Canadian exploration expenses ("Qualifying
Expenditures") to advance Culane's exploration program in southwest
Saskatchewan. The Qualifying Expenditures will be renounced in favour of the
subscribers of the Flow-Through Shares effective on or before December 31, 2010.



The Offering is subject to certain conditions including, but not limited to, the
receipt of all necessary regulatory approvals, including the approval of the TSX
Venture Exchange. Closing of the Offering is expected on or about October 26,
2010.


Culane is a junior oil and gas company engaged in the exploration, development
and production of oil and natural gas in Alberta and Saskatchewan. Culane's
common shares trade on the TSX Venture Exchange under the trading symbol "CLN".


This press release contains forward-looking statements. More particularly, this
press release contains forward-looking statements related to the anticipated
closing of the Offering, the use of proceeds therefrom and the tax treatment of
the Flow-Through Shares. The forward-looking statements contained in this
document are based on certain key expectations and assumptions made by Culane,
including: expectations and assumptions concerning receipt of required
regulatory approvals and the satisfaction of other conditions to the completion
of and use of proceeds from the Offering. Although Culane believes that the
expectations and assumptions on which the forward-looking statements are based
are reasonable, undue reliance should not be placed on the forward-looking
statements because Culane can give no assurance that they will prove to be
correct. Since forward-looking statements address future events and conditions,
by their very nature they involve inherent risks and uncertainties. Actual
results could differ materially from those currently anticipated due to a number
of factors and risks. These include, but are not limited to, the failure to
obtain necessary regulatory approvals or satisfy the conditions to closing the
Offering or the failure to incur Qualifying expenditures as planned. Additional
information on these and other factors that could affect Culane's operations and
financial results are included in reports, including Culane's annual information
form for the financial year ended December 31, 2009, on file with Canadian
securities regulatory authorities and may be accessed through the SEDAR website
(www.sedar.com). The forward-looking statements contained in this document are
made as of the date hereof and Culane undertakes no 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. 


This press release shall not constitute an offer to sell or the solicitation of
an offer to buy the securities in any jurisdiction. Culane's common shares and
the Flow-Through Shares will not be and have not been registered under the
United States Securities Act of 1933 and may not be offered or sold in the
United States absent registration or an applicable exemption from the
registration requirements.
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