GX Guardian Exploration Inc

Guardian Exploration Inc. ("Guardian" or the "Company") (TSX VENTURE:GX),
Guardian announces it has entered into an agreement with one of Canada's more
successful junior oil and gas companies to participate in the drilling of light
oil prospects in the Girouxville area of Alberta. Guardian and the operator,
have recently drilled and tested a new discovery at rates as high as 360 bbls/d
of light 44 API sweet oil, (under the Farm-in and Participation Agreement,
Guardian paid 80% to earn a 50% working interest). The well has no indications
of water on logs or initial test. The new discovery is currently shut-in for
pressure buildup. The well will be placed on production at EUB-restricted rates
of approximately 125 barrels per day by month-end. The operator currently
anticipates having production restrictions removed from the well via application
for Good Production Practice (GPP) in the 2nd Quarter of 2008. The Company is
now preparing to drill a similar prospect (Guardian will again pay 80% for 55%
working interest on the rolling option wells under the Farm-in and Participation
Agreement going forward), and anticipates to commence drilling before the end of
February. It is anticipated that this well, and subsequent wells in Girouxville
will qualify for new pool royalty holidays under the new Alberta royalty
framework.


Graydon Kowal, President and Chief Executive Officer of Guardian, commented, "I
am extremely pleased with this Farm-in and Participation Agreement under which
Guardian has very good terms going forward. Guardian has identified as many as
14 prospects on the farm-in acreage, all delineated by three dimensional
seismic, and our operating partner has an impressive system of drilling these
wells with an exceptional success rate".


Guardian is a Calgary-based corporation engaged in the acquisition, exploration
and development of resource properties. Common shares of the company trade on
the TSX Venture Exchange under the trading symbol "GX".


The term barrels of oil equivalent ("BOE") may be misleading, particularly if
used in isolation. In accordance with NI 51-101, a BOE conversion ratio of six
thousand cubic feet per barrel (6mcf/bbl) of natural gas to barrels of oil
equivalence is based on an energy equivalency conversion method primarily
applicable at the burner tip and does not represent a value equivalency at the
wellhead. All BOE conversions herein are derived from converting gas to oil in
the ratio mix of six thousand cubic feet of gas to one barrel of oil. 


Investors are cautioned that the preceding statements of the Corporation may
include certain estimates, assumptions and other forward-looking information.
The actual future performance, developments and/or results of the Corporation
may differ materially from any or all of the forward-looking statements, which
include current expectations, estimates and projections, in all or part
attributable to general economic conditions and other risks, uncertainties and
circumstances partly or totally outside the control of the Corporation,
including natural gas/oil prices, reserve estimates, drilling risks, future
production of gas and oil, rates of inflation, changes in future costs and
expenses related to the activities involving the exploration, development and
production of gas and oil hedging, financing availability and other risks
related to financial activities. The Corporation undertakes no obligation to
update forward-looking statements if circumstances or management's estimates or
opinions should change. The reader is cautioned not to place undue reliance on
forward-looking statements.

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