VALEURA ANNOUNCES PAYMENT OF FINDERS' FEE FOR JOINT VENTURE IN TURKEY

CALGARY, Sept. 9 /CNW/ - By press release dated September 2, 2010, Valeura Energy Inc. ("Valeura") (TSX-V: "VLE") announced the execution of a farmout agreement (the "Agreement") with Aladdin Middle East Ltd. and Guney Yildizi Petrol Uretim Sondaj, Muteahhitlik ve Ticaret A.S., two affiliated oil and gas exploration and production companies operating in Turkey and controlled by the Turkey-based Sayer Group. Valeura is pleased to announce that it has received TSX Venture Exchange ("TSXV") approval for the finders' fees associated with the Agreement.

Valeura was assisted in securing the Agreement by ONOC Resources Inc. ("ONOC"), an arm's length Calgary-based company with extensive business relationships in Turkey. Under the consulting services agreement with ONOC, Valeura agreed to pay ONOC a success fee equal to 1.5% of the deal value which is payable in common shares of Valeura (subject to the approval of the TSXV). Valeura received conditional TSXV approval on September 7, 2010. Accordingly, based on a deal value of US$ 8,800,000 (the minimum earning expenditures set forth in the Agreement), and after deducting the Cdn$ 40,000 work fee which Valeura has already paid to ONOC in cash, Valeura has issued an aggregate of 349,504 common shares to ONOC, at a deemed value of $0.282 per share, in full satisfaction of the finders' fee payable to date. The shares issued to ONOC are freely tradeable and are not subject to a hold period.

ONOC may receive additional common shares of Valeura in the future if Valeura chooses to increase its earning expenditures under the Agreement and the corresponding deal value on which the Success Fee is paid to ONOC (subject to approval of the TSXV and compliance with applicable securities laws).

ABOUT VALEURA

Valeura Energy Inc. is a Calgary, Alberta based public company currently engaged in the exploitation, development and production of petroleum and natural gas in Western Canada. Valeura is pursuing its previously announced strategy to expand internationally to selected countries in Latin America, the Middle East and North Africa region and the Mediterranean basin.

Additional information relating to Valeura is also available on SEDAR at www.sedar.com.

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.

For further information: Jim McFarland, President and CEO, Valeura Energy Inc., [phone], [email protected]; Steve Bjornson, CFO, Valeura Energy Inc., [phone], [email protected]