Gold Point Energy Announces Farm-in on Polish Oil and Gas Project

VANCOUVER, Aug. 5, 2008 (PRIME NEWSWIRE) -- Gold Point Energy Corp. (TSX-V:GPE)
(Frankfurt:A0HGQ1) (the "Company" or "GPE") reported today that it has entered
into a letter agreement ("Agreement") with Gas Plus International B.V. ("Gas
Plus") to farm-in to a fifty percent working interest in Block 106 ("the Block")
comprising 920 square kilometers (227,000 acres) located around the city of
Szczecinekin in northwest Poland. GPE has agreed to pay approximately US$250,000
in back costs and US$135,000 in estimated exploration expenditures for the
remainder of 2008, plus 100% of the cost of a US$2.5 million 3D seismic survey,
to be acquired in early 2009, to earn a fifty percent working interest in the
Block. GPE and Gas Plus will share 50:50 in any future costs of exploring and
developing the Block including exploratory drilling on the Sylvia Prospect
targeting 10 million barrels of potential oil reserves from the Zechstein Main
Dolomite at approximately 3,500 meters (11,500 feet) and the
previously-discovered Czarne gas field from the Rotliegend sandstone at
approximately 3,100 meters (10,200 feet).

Gas Plus International B.V. is a company formed in 2006 for the purpose of
managing the international assets of Gas Plus Italiana S.p.A outside of Italy.
The company has interests in licenses in the U.K., Romania and the Netherlands,
and is participating in tenders for exploration and production of hydrocarbons
in other European countries. Gas Plus Italiana S.p.A is the operator of 25
onshore gas fields in Italy, and produces around 8.5 BCF of gas per year.

Gas Plus began its activity in Poland in the spring of 2007 and participated in
the first-ever bid round in Poland. The company's key employees each have more
than 20 years industry experience and possess expert knowledge of Rotliegend and
Zechstein geology acquired in southern North Sea exploration. The Permian Basin
of NW Poland, where Block 106 is located, is an extension of the southern North
Sea gas basin and has similar geology. To facilitate its exploration efforts in
Poland, Gas Plus contracted with the Polish Geological Institute (PGI) to
perform a country-wide prospectivity study of hydrocarbons in Poland. Based upon
the results of this study, further talks with experts from PGI, and review of
material provided by the Central Geological Archive of Poland, Gas Plus decided
to focus on Block 106 as having the best exploration potential.

The most prospective intervals on Block 106 are the Permian Main Dolomite of the
Zechstein Formation (Z2), and underlying Permian Rotliegend sandstone of
Saxonian age. In and near the concession area the existence of hydrocarbons has
been discovered in basinal facies of the Main Dolomite in the Debrzno-2 and
Brzozowka-1 wells. The Brzozowka Field produced 206,414 barrels of oil and 0.234
BCF of gas from 1996 to 1999 (data from IHS Energy). Reservoir rocks of
Rotliegend age are present in the north-eastern portion of block 106. These are
sediments deposited on the flanks of the ancestral Rotliegend basin as fluvial
sandstones. The depth of the top of the Rotliegend is approximately 3100 meters.
Previous drilling at the Czarne-1 well discovered and tested 10.1 MMCFGD gas in
the Rotliegend sandstone on a 10mm choke. This discovery was appraised with 2
more wells, but remains to be produced.

Based upon data obtained from the Polish Geological Institute, and former
operator Calenergy, Gas Plus has identified a significant number of structures
at the Zechstein Main Dolomite and Rotliegend levels. The largest and most
attractive of these prospects is the Silvia Prospect, a Main Dolomite prospect
situated east of the Czarne gas field and north of the depleted Brzozowka oil
field. The recoverable reserves of the Silvia Prospect from the Zechstein Main
Dolomite are estimated by Gas Plus at 10 million barrels of oil at a depth of
approximately 3,500 meters (11,500 feet). Note: The foregoing reserve
information is a historical estimate and GPE has not concluded its internal
studies to verify this estimate. Accordingly, readers should use caution when
considering this information and should not rely on the accuracy of such
information. Future geological and geophysical work in Block 106 will be focused
on supporting the drilling of an exploratory well on the Silvia Prospect, the
development of the Czarne gas field if internal studies show a positive economic
potential for this project, as well as developing additional prospects at both
the Main Dolomite and Rotliegend levels.

Gold Point Energy Corp. is engaged in the development of oil and gas projects in
the U.S., South America and Europe. The Company has experienced technical and
management professionals, which provide a high level of expertise to oil and gas
project development, as well as good access to industry contacts and quality
projects. Gold Point Energy Corp. has recently announced three new projects
including the farm-in to earn a 50% working interest in Block 106 in Poland with
Gas Plus International B.V., a farm-in with JKX Oil & Gas PLC and Aurelian Oil &
Gas PLC to earn a 20% working interest on portions of two licenses comprising
350,000 acres in eastern Bulgaria, and a farm-in with RTR Energy, LLC to earn a
37.5% working interest in the redevelopment of the Tepee Butte oil field in
Hettinger County, North Dakota

ON BEHALF OF THE BOARD

"Jack S. Steinhauser"

Jack S. Steinhauser
President & CEO
Certain statements contained in this press release may be considered as "forward
looking". Such "forward looking" statements are subject to risks and
uncertainties that could cause actual results to differ materially from
estimated or implied results. These forward-looking statements are identified by
their use of terms and phases such as "believe," "expect," "plan," "anticipate"
and similar expressions identifying forward-looking statements. Investors should
not rely on forward-looking statements because they are subject to a variety of
risks, uncertainties and other factors that could cause actual results to differ
materially from the Company's expectations, and expressly does not undertake any
duty to update forward-looking statements. These factors include, but are not
limited to the following: the Company's ability to obtain additional financing,
geological, mechanical or difficulties affecting the Company's planned
geological work programs, uncertainty of estimates of mineralized material and
other factors which may cause the actual results, performance or achievements of
the Company to be materially different from any future results, performance or
achievements expressed or implied by such forward-looking statements. The TSX
Venture Exchange has not reviewed and does not accept responsibility for the
adequacy or accuracy of this release.

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CONTACT: Gold Point Energy Corp.
Val Donovan - Manager, Corporate Communications
(877) 741-1217
(604) 681-1250
vdonovan@goldpointenergy.com