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Contact: Nancy Edwards J.B. Bleckley
Rational Marketing Capital Energy Advisors
512/371-3356 512/478-0059

PERUVIAN OIL PROJECT GETS GREEN LIGHT
Austin, TEXAS (May 23, 2006)…Capital Energy Advisors today announced the completion of financing for the exploration of oil reserves in the Ucayali Basin of northern Peru. Ziegler Peru, who CEA represented in the deal, agreed to sell 20 percent of the working interest in the Huaya Anticline Project to Bellingham, Wash.-based Radial Energy.

The agreement will enable the drilling of several wells in the Block 100 oil prospect, a 550-acre tract released for exploration by the Peruvian government late last year. The first well is scheduled to be drilled by the end of September 2006, with several more wells slated for drilling later this year.

“This project has great potential for excellent results, based on the past success in fields adjacent to this block, ” said JB Bleckley, president of CEA. “It’s a great opportunity to discover and develop an untapped field.”

The nearby Maquia Field, which is on the same anticlinal plane, has produced 17 million barrels of oil to date. If this project proceeds as anticipated, with shallow drilling depths and initial production rates of between 200 to 800 barrels per day, per well, the total potential production could top 20 million barrels.

Ed Ziegler, president of Ziegler Peru, will oversee drilling and production of the field. Ziegler is a veteran of the petroleum industry, having drilled wells all over the world for a variety of interests including his own.

“As an exploration prospect, this project has all the right ingredients,” Ziegler said. “I’m looking forward to personally overseeing its success in one of the most exciting areas of the world.”

The Huaya Anticline Project project is one of several launched late last year by Perupetro, the Peruvian government-owned petroleum company. Eager to replace waning reserves from the country’s mature oil fields, the company released several new blocks in the Ucayali Basin for exploration. The basin is located southeast of Iquitos, Peru, in jungle terrain.

Gustavson and Associates of Boulder, Colorado performed a reserve assessment, the preliminary results of which proved instrumental in Radial’s decision to quickly move ahead with the project.

Capital Energy Advisors facilitates the divestiture of oil & gas and energy assets for companies and individuals around the world. A subsidiary of Banks Information Solutions, CEA is located in Austin, Texas.