DGAP-News: Zulu Energy Corp. Raises $8.0 Million in Private Placement

Zulu Energy Corp / Miscellaneous

13.05.2008 

Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Proceeds to Fund Coalbed Methane Development Operations in Botswana, Africa

SHERIDAN, Wyoming, USA, May 13th 2008  – Zulu Energy Corp. ('Zulu Energy'
or the 'Company') today announced it has raised $8.0 million in a private
placement of its securities with institutional accredited investors.

The transaction, which consisted of eight million shares of common stock
and eight million warrants exercisable at $1.50 per share, resulted in net
proceeds to the Company after fees and expenses of approximately $7.0
million.  The warrants will not be exercisable until the Company amends its
articles of incorporation to increase its authorized shares of common
stock.  The Company has granted registration rights to the investors in the
private placement.

Paul Stroud, president and CEO of Zulu Energy, said the capital infusion is
a major milestone in the Company’s plans to develop its properties in
northeastern Botswana.  The Company, through its wholly owned subsidiary
Nyati Botswana, owns exploration licenses covering 2.2 million acres in the
Kalahai Karoo Basin.

'This capital infusion enables us to proceed with establishing our
operational infrastructure and commencing initial exploratory work in
Botswana,' said Stroud.

The securities are not registered under the Securities Act of 1933, as
amended, and may not be offered or sold in the United States absent
registration or an applicable exemption from registration requirements.

This press release shall not constitute an offer to sell or the
solicitation of an offer to buy in any jurisdiction.

Forward-Looking Statements

This press release includes forward-looking statements as determined by the
U.S. Securities and Exchange Commission (the 'SEC').  All statements, other
than statements of historical facts, included in this press release that
address activities, events, or developments that the Company believes or
anticipates will or may occur in the future are forward-looking statements.
Such forward-looking statements involve known and unknown risks,
uncertainties 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. Such factors include the Company's ability
to obtain additional financing to fund general operations and project work
in the Republic of Botswana, the absence of any proved reserves, the need
to obtain governmental approvals to renew the leases and to conduct various
operational activities, general economic and business conditions, and other
factors over which the Company has little or no control.  The Company does
not intend (and is not obligated) to update publicly any forward-looking
statements.  The contents of this press release should be considered in
conjunction with the warnings and cautionary statements contained in the
Company's filings with the SEC.



Contacts:
investors@zulu-energy.com

Web:
www.zulu-energy.com


DGAP 13.05.2008 
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