EnerMad Corp. Teams Up With Niko Resources for Madagascar Grand Prix

CALGARY, AB, Jul 22 (MARKET WIRE) --
EnerMad Corp. (the "Company") is pleased to announce that it has executed
a Heads of Agreement with Niko Resources Ltd. (TSX: NKO) ("Niko"),
whereby it will farm-out an interest in its Grand Prix block production
sharing agreement ("PSC") to Niko. The Grand Prix block covers oil and
gas prospects in an area of approximately 16,845 square kilometers (4.1
million acres) situated in the Mozambique Channel offshore Madagascar's
Morandava Basin on the west coast.

Niko has committed to fund 100% of the exploration work program to a
maximum of $125 Million US over several years to earn a 75% interest in
the concession. The Company will retain a 25% working interest in the
concession after the completion of the work program. Thereafter, the
parties contribute pro-rata. $36 Million will be spent at the outset on a
3000 sq. km. 3-D marine seismic program, with the remainder of the
commitment to be spent on one or two offshore exploration wells depending
on depth and cost. In addition, Niko is reimbursing the Company for
certain prior expenditures. While the Company will maintain an active role
in the partnership going forward, Niko will be designated the operator by
reason of the magnitude of its investment.

The agreement is subject to the execution of more formal, definitive
agreements between the parties and the approval of L'Office des Mines
Nationales et des Industries Strategiques ("OMNIS"), a Malagasy State
agency charged with administration of hydrocarbon and uranium resources.
The PSC was effective November 26, 2007.

Madagascar is just now coming to the world stage as one of very few
remaining frontiers where world-class hydrocarbon plays may still be
found. Many companies are now preparing to explore for hydrocarbons both
on and off shore. According to Jim Dalsin, CEO of the Company, "We
believe the Grand Prix block is particularly well-positioned to exploit
Madagascar's offshore oil and gas potential. In addition, we are
delighted to have taken on Niko as a partner, as they are one of the most
successful international explorers offshore and have a strong Indian
Ocean focus, with an extremely positive financial profile."

The Grand Prix block covers water depths ranging from shallows to 1500+m.
The block is located down dip of two reported multi-billion barrel oil
deposits, with one currently being developed. The block has multiple play
types which will be targeted by the 3-D marine seismic and the drilling
program, covering Triassic, Jurassic, Cretaceous and tertiary geologic
ages. There is some evidence to date of salt structure presence and
turbidite deposition. 2-D seismic to date has produced numerous leads. The
partners are currently reprocessing 7600+ kilometers of 2-D seismic
ranging from older vintage to current data. An aeromagnetic survey of
over 30,000 line km is set to begin by mid-July, 2008 and it is intended
that the 3000 square kilometer 3-D seismic program would begin in the
first quarter of 2009. This will assist in ranking existing leads into
prospects. Drilling will follow as soon as practicable thereafter.

ON BEHALF OF THE BOARD OF DIRECTORS OF
ENERMAD CORP.

"Jim Dalsin"
Jim Dalsin
Director & CEO

Distributed by Filing Services Canada and retransmitted by Marketwire

For more information, contact:

Jim Dalsin
Director and CEO
EnerMad
E-mail: Email Contact
Phone: (403) 850-6944
Fax: (604) 899-0200

Irwin Olian
Director
EnerMad
E-mail: Email Contact
Phone: (604) 899-0100
Fax: (604) 899-0200

EnerMad Corp.
Suite 1925, Box 11553
650 West Georgia Street
Vancouver, BC
V6B 4N8

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