Samoth Oilfield Inc. Announces Execution of Asset Purchase Agreement for Petroleum and Natural Gas Assets in Alberta

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWS WIRES

Samoth Oilfield Inc. ("Samoth") (TSX VENTURE:SCD.P), a capital pool company listed on the TSX Venture Exchange (the "Exchange"), is pleased to announce that further to its news release dated July 23, 2008, it has entered into a definitive agreement (the "Agreement") with a Calgary-based privately held oil and gas company (the "Vendor") in respect of an arm's length acquisition of certain oil and natural gas assets (the "Assets") located in Alberta. The aggregate cash purchase price has been adjusted to $900,000 (the "Qualifying Transaction") and it is intended that the acquisition will constitute a Qualifying Transaction (as such term is defined in Policy 2.4 of the Exchange) for Smooth.

Samoth has retained AJM Petroleum Consultants Ltd. to provide a reserve report on the Assets and the review of the Assets are on-going. Samoth will provide a detailed news release on the proposed Qualifying Transaction which include, amomg other things, certain reserve and financial information on the Assets.

Trading in Samoth common shares will remain halted until such time as the required materials have been filed with and satisfactorily reviewed by the TSX Venture Exchange Inc.

Completion of the Qualifying Transaction is subject to a number of conditions, including but not limited to, Exchange acceptance and if necessary majority of the minority shareholder approval. There can be no assurances that the Qualifying Transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the filing statement to be prepared in connection with the Qualifying Transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of Samoth should be considered highly speculative.

The TSX Venture Exchange has in no way passed upon the merits of the proposed Qualifying Transaction and has neither approved nor disapproved the contents of this press release. Email: ld.jaroszuk@enterpriseoil.ca