Cobra Announces Proposed Private Placement of 1,000,000 Units

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A
VIOLATION OF U.S. SECURITIES LAWS.


Cobra Venture Corporation ("Cobra" or the "Corporation") (TSX VENTURE:CBV) is
pleased to announce that the Corporation intends to complete a private placement
of 2,000,000 units ("Unit") at a price of $0.25 per unit or an aggregate amount
of $500,000.00.


Each unit shall consist of one (1) common share issued on a "flow through" basis
("Flow Through Share") and one (1) regular share purchase warrant ("Warrant").
Each Warrant shall entitle the holder to purchase one (1) further common share
of the Corporation for a period of five (5) years from the date of issuance at
an exercise price of $.25. The Corporation may retain agents in connection with
the sale of the Units and such agents may receive from the Corporation a cash
fee in respect of the gross proceeds received by the Corporation from the sale
of units placed by such agents.


Proceeds from the private placement will be used to fund ongoing exploration and
development programs.


This offering of Units is subject to the approval of the TSX Venture Exchange.

About Cobra Venture Corporation

Cobra Venture Corporation is an emerging energy corporation focused on the
acquisition and development of strategic oil and natural gas reserves in Western
Canada. Cobra is currently exploring and developing oil and natural gas
interests in SE Saskatchewan, Central Alberta and NE British Columbia. Cobra is
actively involved in prospect generation, and secures working interests at an
early stage through farm out and royalty agreements. Cobra retains key ownership
positions in multiple projects and employs this strategy to minimize shareholder
dilution and maximize shareholder asset value.


The common shares of the Corporation trade on the TSX Venture Exchange under the
symbol CBV.


Cautionary Statements

This news release contains "forward-looking statements" within the meaning of
applicable securities laws relating to certain future results and activities of
the Corporation, including the contemplated completion of an equity financing.
Readers are cautioned to not place undue reliance on forward-looking statements.
Forward-looking statements are based on certain key assumptions made by the
Corporation, including assumptions related to availability of capital to
complete the equity financing and other resources to carry out planned
exploration programs. Such forward looking statements are subject to known and
unknown risks, uncertainties and other factors which may cause actual results
and developments to differ materially from those contemplated by these
statements depending on, among other things, insufficient funds or other
resources to carry out the planned exploration programs. The forward-looking
statements in this press release are made as of the date of this release and the
Corporation undertakes no obligation to update publicly or revise any forward
looking statements whether as a result of new information or otherwise, except
as required by applicable securities laws. The Corporation undertakes no
obligation to comment on analyses, expectations or statements made by
third-parties in respect of the Corporation or its financial or operating
results or (as applicable) their securities.

Cobra Venture (TSXV:CBV)
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