FPL First Calgary

RNS Number:4957A
First Calgary Petroleums Ltd
28 March 2006

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



                                 PRESS RELEASE



Calgary, Canada, March 28, 2006 - First Calgary Petroleums Ltd. ("FCP" or the 
"Company") (TSX:FCP, AIM: FPL) today announced a bought deal financing to raise
approximately C$141 million (approximately #70 million) with an option (the 
"Underwriter's Option") to acquire additional securities for additional gross
proceeds of C$33 million (approximately #16 million).  The Company has today
been informed by the underwriter, Canaccord Adams Limited ("Canaccord"), that
there have been strong expressions of interest with respect to the offering and
that Canaccord has fully allocated the bought portion of the deal, C$141 million
(approximately #70 million).

The offering is subject to certain conditions including normal regulatory
approvals.  The Common Shares will be offered in certain provinces of Canada by
way of a short form prospectus and on a private placement basis elsewhere
including in the United Kingdom and Europe.  Closing is anticipated to occur on
or about April, 18 2006.



First Calgary Petroleums Ltd. is an oil and gas exploration company actively
engaged in exploration and development activities in Algeria.  The Company's
Common Shares trade  on the Toronto Stock Exchange in Canada under the symbol
FCP and on AIM, trading under the symbol FPL.



For further information, contact: Richard G. Anderson, President and CEO, and
John van  der Welle, CFO, First Calgary Petroleums Ltd., Tel: (403) 264-6697,
Website: www.fcpl.ca.



European contacts: James Henderson, Pelham Public Relations, Tel: +44 (0) 207
743 6673





This news release includes statements about expected future events and financial
results that are forward looking in nature and subject to risks and
uncertainties.  First Calgary Petroleums Ltd. cautions that actual performance
may be affected by a number of factors, many of which are beyond its control.
Future events and results may vary substantially from what First Calgary
Petroleums Ltd. currently foresees.



This news release shall not constitute an offer to sell or the solicitation of
an offer to buy securities in any jurisdiction.  The Common Shares will not and
have not been registered under the United States Securities Act of 1933 and may
not be offered or sold in the United States absent registration or an applicable
exemption from the registration requirements.






                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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