Bronco Closes Private Placement

NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES OR TO UNITED STATES NEWS WIRE SERVICES.

Bronco Energy Ltd. (TSX VENTURE:BCF) ("Bronco") is pleased to announce that it has completed its private placement for gross proceeds of $56,800,000. The successful offering resulted in the issuance of 8,000,000 common shares of the Corporation at a price of $7.10 per share. All of the common shares issued under the private placement are subject to a four-month hold period in Canada, which will expire on June 22, 2007.

RBC Capital Markets acted as lead agent on the private placement with the balance of the syndicate being TD Securities Inc., Lightyear Capital Inc., MGI Securities Inc. and Westwind Partners Inc. As compensation for the services provided, the agents received an aggregate cash commission of 6.0% of the gross proceeds from sales of common shares under the offering, together with an aggregate of 400,000 agents' warrants, each agents' warrant being exercisable to acquire one common share at a price of $7.10 per share until February 21, 2008. As a result of the private placement, Bronco now has 28,571,607 common shares issued and outstanding. Officers and other insiders of Bronco participated in the offering.

The net proceeds from this offering will be used to fund Bronco's exploration, development, and acquisition programs as well as for general corporate purposes.

Bronco Energy Ltd. trades on the TSX Venture Exchange under the symbol "BCF".

This news release contains forward-looking statements which involve known and unknown risks, delays and uncertainties not under Bronco's control which may cause actual results, performance or achievements of Bronco to be materially different from the results, performance or expectations implied by these forward-looking statements.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction. The securities offered have not and will not be registered under the United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirement.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. (403) 693-0038 (FAX)