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[Arctec]

WASHINGTON & HOUSTON, February 21 /CNW/ - Calibre Energy, Inc.,
(OTCBB:CBRE), ("Calibre") announced that the Bina-Bawi 1 exploration well was
at a depth of 3,355 meters (11,007 feet) and has completed logging the lower
part of the hole. Earlier in the drilling of the Bina-Bawi 1, oil was
recovered from the drill string during a fishing operation from intervals in
the Upper Cretaceous at the depths of 550 to 750 meters. The Joint Venture has
agreed to commence testing to determine the productive and commercial
potential of at least three zones intersected by the well. Furthermore, the
Joint Venture anticipates drilling the Bina-Bawi 2 appraisal well upon the
completion of the Bina-Bawi 1 in order to evaluate and test the prospective
intervals in the Upper Cretaceous.