Exile Resources Announces Updated First Oil Production Target for Akepo-1st
Well

TORONTO, Oct. 18 /CNW/ - Exile Resources Inc. (TSX-V: ERI) ("Exile" or the "Company"), a junior oil and gas exploration and production company with operations focused on Africa, along with its joint venture partners in the Akepo field development project, today announced that the Akepo-1st well will be produced via a pipeline to a nearby onshore facility, eliminating the need for an early production system.

"After evaluating several development plans and scenarios, the joint venture partners determined that a permanent pipeline solution is the most prudent and economic approach in developing Akepo-1st and the rest of the Akepo field," said Tony Henshaw, President and CEO of Exile Resources. "We considered using an early production system consisting of a shuttle barge, to ship produced crude oil to a nearby off-take facility. This type of production system would have been quicker to deploy, but would have seen all-in costs of roughly $50 per barrel. The permanent pipeline will cost roughly $11 per barrel, which should add back about $5 million to the project economics."

The pipeline will span approximately 13 kilometres to a nearby onshore facility. The contract for the pipeline has been awarded and construction will begin in December 2010, with first production targeted for May 2011. Although there is a slight delay in first oil production from the field, the decision to forego the early production system has substantially improved the project's economics.

In addition to Akepo-1st, the Akepo field joint venture partners have identified an additional prospect within the license area. Prospect A, located north of Akepo-1st, is an easily accessible, low-cost exploration opportunity that could easily be tied into the permanent pipeline system.

About Exile Resources Inc.

Exile Resources Inc. is an oil and gas exploration company advancing the development of the Akepo Oilfield in the shallow water Niger Delta, Nigeria. With significant experience and track record of success in international operations, the Company is pursuing additional prospects in Africa and beyond, looking for opportunities that are early on in the exploration and development value chain. Please visit Exile Resources web site for further information: www.exileresources.com.

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Forward-Looking Statements - Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Exile Resources Inc. including, but not limited to the impact of general economic conditions, industry conditions, volatility of commodity prices, risks associated with the uncertainty of estimates, currency fluctuations, independent actions of its joint venture partners, dependence upon regulatory approvals, the availability of future financing and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

Neither 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 release.

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