Archer Petroleum Corp. Arranges $1.5 Million Share Exchange Financing With UK Based Investment Trust

Archer Petroleum Corp. ("Archer" or the "Company") (TSX
VENTURE:ARK)(DBFrankfurt:A6VA) is pleased to announce that it has entered into a
share exchange agreement (the "Agreement") with Global Resources Investments
Ltd. ("GRIL"), a U.K. based company, pursuant to which Archer will, on closing,
issue 6,000,000 common shares (no warrants) of Archer (the "Archer Shares") to
GRIL at a deemed price of CDN $0.245 per share (CDN$1.47 million) in return for
802,095 ordinary shares of GRIL (the "GRIL Shares") at a deemed price of GBPGBP
1.00 per share (CDN$1.84).


GRIL was established to fund investments in the junior mining and natural
resources sectors worldwide, and intends to re-register as a public company and
investment trust upon admission of its ordinary shares for listing on the London
Stock Exchange. Closing of the Agreement is subject to certain conditions,
including the admission of the ordinary shares of GRIL on the London Stock
Exchange's main market for listed securities becoming effective.


Archer intends to use the net proceeds from the subsequent sale of GRIL Shares
through the facilities of the London Stock Exchange to fund the acquisition of
additional prospective tar sands in the United States, commence permitting on
the Company's 100% owned Davenport project, and for general corporate purposes.
As a term of the transaction, GRIL has agreed to certain resale restrictions on
the Archer Shares it receives.


Any Archer Shares issued to GRIL in connection with the Agreement will be
subject to a hold period of four months and one day under applicable Canadian
securities laws.


About Archer Petroleum:

Archer is an independent energy company focused on exploration and development
in North America. Archer Shares are listed on the TSXV under the symbol "ARK"
and the DB Frankfurt exchange under "A6VA". Further information on Archer can be
found on the Company's website at www.archerpetroleum.com.


ON BEHALF OF ARCHER PETROLEUM CORP.

Colin Bowkett, Director

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 news release.


Forward-Looking Information

Certain statements contained in this press release constitute forward-looking
information. These statements relate to future events or future performance. The
use of any of the words "could", "intend", "expect", "believe", "will",
"projected", "estimated" and similar expressions and statements relating to
matters that are not historical facts are intended to identify forward-looking
information and are based on the Company's current belief or assumptions as to
the outcome and timing of such future events. Actual future results may differ
materially. In particular, this release contains forward-looking information
relating to the intention of GRIL and Archer to close the Agreement, Archer's
intention to sell the GRIL Shares it receives in the event that the share
exchange closes, and Archer's proposed use of proceeds of such sale. There are
numerous risks and uncertainties that could cause actual results and the
Company's plans and objectives to differ materially from those expressed in the
forward-looking information, including, among other things: (i) the failure of
the TSX Venture Exchange to approve the transaction; (ii) the failure of GRIL to
obtain a listing of the GRIL Shares on the LSE; (iii) general economic and
business conditions; and (iv) other factors beyond the Company's control. The
Company cautions the reader that the above list of risk factors is not
exhaustive. The forward-looking information contained in this release is made as
of the date hereof and Archer is not obligated to update or revise any
forward-looking information, whether as a result of new information, future
events or otherwise, except as required by applicable securities laws. Because
of the risks, uncertainties and assumptions contained herein, investors should
not place undue reliance on forward-looking information. The foregoing
statements expressly qualify any forward-looking information contained herein.
This press release does not constitute an offer to sell or a solicitation of an
offer to buy any securities in the United States.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Archer Petroleum Corp.
Colin Bowkett
(604) 683-7588
(604) 683-7589 (FAX)
info@archerpetroleum.com
www.archerpetroleum.com

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