CR Crew Energy Inc

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


Crew Energy Inc. ("Crew") (TSX:CR) is pleased to announce that it has closed its
previously announced offering of 5,000,000 common shares at an issue price of
$13.35 per share, for total gross proceeds of approximately $66.8 million
through an underwriting syndicate co-led by Cormark Securities Inc. and GMP
Securities L.P. and including Macquarie Capital Markets Canada Ltd., FirstEnergy
Capital Corp., Tristone Capital Inc., Raymond James Ltd., Peters & Co. Limited
and TD Securities Inc.


After giving effect to the offering, Crew has approximately 58.7 million common
shares issued and outstanding.


The net proceeds of the offering will used by Crew to temporarily reduce bank
indebtedness under its credit facility which Crew anticipates will be redrawn to
fund the previously announced $65 million acquisition of crown leasehold
interests in approximately 109 (104 net) sections of undeveloped Montney
formation rights located in Crew's core operating area in northeast British
Columbia (the "Montney Acquisition"). Closing of the Montney Acquisition is
currently anticipated to occur on or about May 15, 2008 and is subject to
standard industry closing conditions.


Crew is a publicly traded company with its head office in Calgary and is engaged
in the business of exploring for, developing and producing crude oil and natural
gas and acquiring crude oil and natural gas properties in western Canada.


The securities offered have not been and will not be registered under the U.S.
Securities Act of 1933, as amended, and may not be offered or sold in the United
States absent registration or applicable exemption from the registration
requirements. This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the securities in
any jurisdiction in which such offer, solicitation or sale would be unlawful.


ADVISORY: This press release contains forward looking statements. More
particularly, this press release contains statements concerning completion of
the proposed Montney Acquisition and the anticipated use of the net proceeds of
the offering. Although Crew believes that the expectations reflected in these
forward looking statements are reasonable, undue reliance should not be placed
on them because Crew can give no assurance that they will prove to be correct.
Since forward looking statements address future events and conditions, by their
very nature they involve inherent risks and uncertainties. The proposed Montney
Acquisition may not be completed if required approvals or some other condition
to closing is not satisfied. If the Montney Acquisition is completed, there is
no assurance that any resources on the lands acquired will be discovered or, if
discovered, will be commercially viable to produce. Accordingly, there is a risk
that the proposed Montney Acquisition will not be completed within the
anticipated time or at all. The intended use of the net proceeds of the offering
by Crew might change if the proposed Montney Acquisition cannot be completed or
if the board of directors of Crew determines that it would be in the best
interests of Crew to deploy the proceeds for some other purpose.


The forward looking statements contained in this press release are made as of
the date hereof and Crew undertakes no obligations to update publicly or revise
any forward looking statements or information, whether as a result of new
information, future events or otherwise, unless so required by applicable
securities laws.

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