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Acquired rights to purchase Miltex assets in Cochran Co., TX.

Doral Energy Corp., Midland, Texas, (OTCBB: DEGY) has sold its rights to purchase the Miltex assets in Cochran County, Texas, per the April 21 purchase and sale agreement between itself and Texas-based Miltex Oil Co. for a total of $750,000 in cash. Doral vice president and chief executive E. Will Gray II says, "Our primary strategy remains to purchase and monetize assets within the Permian Basin, our core area of expertise. In some cases we will monetize these assets through enhancement, and in other cases through divestiture and recognition of the gain. This transaction demonstrates our strategy, whereby we were able to utilize our common stock, as well as cash, to secure an acquisition, evaluate the property and then determine how to proceed. In this case, Doral was able to realize a profit while recouping our initial investment by divesting Doral's rights to purchase these Permian Basin assets." Doral has also entered into a forbearance agreement with Macquarie Bank Ltd., on its $50-million credit facility, which changes the maturity date of the facility from July 31 to Aug. 31. Doral Energy's management will update shareholders as to the progress of its refinancing efforts as this will be a key component in Doral's efforts to list on a senior exchange as well as increase daily production. Doral Energy has oil and gas assets in Permian Basin of Texas and New Mexico.