Pearl Exploration and Production Ltd.

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  Apr 9, 2008 - 16:00 ET
Pearl Corporate Update

  CALGARY, ALBERTA--(Marketwire - April 9, 2008) - Pearl Exploration and Production Ltd. ("Pearl" or the "Company") (TSX VENTURE:PXX)(FIRST NORTH:PXXS) reports that it has granted 100,000 incentive stock options to a director of the Company. The options are exercisable, subject to vesting provisions, over a period of 5 years at a price of Cdn $1.61 per share.

On Behalf of the Board,

Keith Hill, President and CEO

Pearl's Certified Advisor on First North is E. Ohman J:or Fondkommission AB.

Company Registration Number: 409596-1

Forward-looking statements: This document contains statements about expected or anticipated future events and financial results that are forward-looking in nature and as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, the regulatory process and actions, technical issues, new legislation, competitive and general economic factors and conditions, the uncertainties resulting from potential delays or changes in plans, the occurrence of unexpected events, and the Company's capability to execute and implement its future plans. Actual results may differ materially from those projected by management. For such statements, we claim the safe harbour for forward-looking statements within the meaning of the Private Securities Legislation Reform Act of 1995.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.


Pearl Exploration and Production Ltd.
Keith Hill
President and Chief Executive Officer
(604) 689-7842
Pearl Exploration and Production Ltd.
Randy Neely
Chief Financial Officer
(403) 716-4054
Pearl Exploration and Production Ltd.
Sophia Shane
Corporate Development
(604) 806-3575

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