Excelsior Energy Limited (TSX VENTURE:ELE) ("Excelsior" or the "Corporation")
confirms receipt of a Notice of Appeal from Wexford Capital LP, Wexford Catalyst
Investors LLC and Wexford Spectrum Investors LLC (collectively, "Wexford") to
the Alberta Securities Commission (the "ASC") relating to the proposed
non-brokered private placement financing of Excelsior announced on April 16,
2010. 


According to the Notice of Appeal, Wexford is appealing to the Alberta
Securities Commission for an order (i) reversing the decision of the TSX Venture
Exchange (the "Exchange") to conditionally approve the listing of shares issued
or reserved for issuance by Excelsior to a select group of subscribers by way of
a private placement (the "Private Placement") without requiring prior
shareholder approval, or (ii) directing that the Private Placement be
conditional on approval by independent shareholders. Wexford is also requesting
that the ASC make certain interim orders in connection with the appeal,
including, staying the Exchange's decision to the extent necessary to ensure
that the appeal is not rendered moot by Excelsior's proceeding with the Private
Placement. Wexford has requested that a hearing be scheduled for this matter on
April 30, 2010.


Excelsior has not responded to the Notice of Appeal at this time.
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