New´s Pluris Energy Group (OTCBB: PEYG),

·         Growing production: While most energy producing regions are experiencing declining reserves, Argentina’s largely unexplored basins and excellent geology have resulted in steadily increasing gas production over the past decade. In the past few years, Argentina has transformed from a hydrocarbon importer to a major exporter and the largest natural gas producer in Latin America.



·         Extensive infrastructure: With major oil and gas deposits in South America located on the eastern side of the Andes, Argentina has immediate access to extensive hydrocarbon infrastructure on the Atlantic seaboard. Infrastructure expansion continues with an additional 5,000 miles of pipelines currently being built to accommodate future growth.



·         Stable and growing economy: Argentina is one of South America’s fastest growing economies. GDP grew by more than 23% from 2003 to 2005 with fuel and energy export earnings as a major contributor to GDP growth. By 2010, Argentina’s energy business is expected to grow exponentially driven by large scale privatization of hydrocarbon fields and extensive foreign investment in the energy sector.



·         Increasing energy demand: Argentina’s hydrocarbon development model primarily services the growing international market. However, Argentina and its neighboring countries, specifically Chile and Brazil, are emerging economies that have enjoyed robust growth in recent years, contributing to escalating demand for Argentina’s hydrocarbons.



As Argentina continues to develop into a significant player in the world’s energy market, international companies are jockeying to position themselves. Large American and European multinationals including BP (NYSE:BP), ChevronTexaco (NYSE:CVX), Total (NYSE:TOT), Repsol-YPF (NYSE:REP), Petrobras Energía (NYSE:PZE) and Apache Corporation (NYSE:APA) are well positioned with substantial concessions and producing fields. And now that the multinationals have developed the infrastructure and baseline industry, aggressive, smaller international energy companies are also looking to Argentina for significant growth and development.



Petrolifera Petroleum (TSX:PDP) is one example of the success that can be achieved by small companies in Argentina. Petrolifera controls 95,000 acres in the Neuquén basin with proved, probable and possible recoverable reserves estimated at 29 million barrels of crude oil and 14 Billion cubic feet of natural gas. Their production has increased from approximately 300 barrels of oil equivalent after completing its listing on the Toronto Stock Exchange in November of 2005 to over 9,000 barrels of oil equivalent at the end of Q2-2006. Petrolifera anticipates 2006 revenue will approximate $110 million in its first full year as a public company, compared to 2005 revenue of $2.8 million. Petrolifera’s shares have traded from a low of $1.55 CND in Q4-2005 to recent highs above $25 CND on 42.5 million shares I/O.



Pluris Energy is exceptionally well positioned for rapid growth similarly to Petrolifera through the development of San Enrique’s Argentina properties. San Enrique’s properties include over 251,000 net acres in the Neuquén, Austral and Golfo de San Jorge basins, the three most prolific basins in Argentina, with proved, probable and possible recoverable reserves estimated at 25 million barrels of crude oil and 142 Billion cubic feet of natural gas. Current production exceeds 1,000 barrels of oil equivalent per day and is expected to grow rapidly through an aggressive development program currently underway. Three company-owned gas processing plants and robust pipeline infrastructure is already in place.



Pluris Energy is currently placing a $65,000,000 convertible bond instrument of which the capital raised will be used to close the purchase of San Enrique as well as other acquisitions targeted by Pluris Energy. Upon closing the San Enrique acquisition, Pluris Energy plans to file a prospectus for Initial Public Offering on the Oslo Bors main market, while maintaining a dual listing and quotation in the United States.



As an emerging energy company with a foothold on what is quickly becoming one of the world’s premier hydrocarbon regions of the world, Pluris Energy has laid the foundation for sharply increased value and financial metrics in the near term and sustained growth and development well into the future. Pluris Energy shares are quoted on the NASDAQ OTCBB under the symbol PEYG and trade in the $0.50 range on 14 million shares I/O.



About Pluris Energy



Pluris Energy Group Inc. is an international energy company engaged in the acquisition and development of non-operated producing oil and gas interests in global high profile development plays. Pluris Energy is also investing in the research and development of energy efficiency technologies aiming to maximize the diversification of the worldwide energy grid. For further information, please visit the Company’s website at www.plurisenergy.com





Company Contact

Louis J. Fruchier

Senior V.P. Corporate Developments

Pluris Energy Group Inc.

281-383-9403

fruchier@plurisenergy.com



The information contained herein does not purport to provide a complete analysis of any company’s financial position and is not in anyway an offer to buy or sell securities. Any investment should be made only after consulting a professional investment advisor and only after reviewing the financial statements and pertinent corporate information about the company. Investing in securities is speculative and carries a high degree of risk. Furthermore, The information contained herein may include FORWARD-LOOKING STATEMENTS WITHIN THE MEANING OF SECTION 27A OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, AND SECTION 21E OF THE UNITED STATES SECURITIES AND EXCHANGE ACT OF 1934, AS AMENDED, WITH RESPECT TO ACHIEVING CORPORATE OBJECTIVES, DEVELOPING ADDITIONAL PROJECT INTERESTS, THE COMPANY’S ANALYSIS OF OPPORTUNITIES IN THE ACQUISITION AND DEVELOPMENT OF VARIOUS PROJECT INTERESTS AND CERTAIN OTHER MATTERS. THESE STATEMENTS ARE MADE UNDER THE “SAFE HARBOR” PROVISIONS OF THE UNITED STATES PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND INVOLVE RISKS AND UNCERTAINTIES WHICH COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE IN THE FORWARD-LOOKING STATEMENTS CONTAINED HEREIN.






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Pluris Energy has already made significant inroads in Argentina by entering into a Shares Purchase Agreement to acquire San Enrique Petrolera, SA (San Enrique), an oil and gas upstream and midstream company located in Buenos Aires, Argentina, as previously announced in our September 12, 2006 news release. San Enrique controls over 251,000 net acres of producing oil and gas fields, representing 3P reserves estimated at approximately 49 million barrels of oil equivalents with current net production of over 1,000 barrels of oil equivalent per day.

As part of the Company's overall growth agenda and business mandate, Pluris Energy plans to make a number of South American acquisitions of producing hydrocarbon interests in the future with similar characteristics and metrics to those of San Enrique's. As such, we have strengthened our corporate structure to reflect these new opportunities. Most specifically, the company has completed the following changes:

   *  On September 12, 2006, Pluris Energy completed a five-for-one
      consolidation of its common shares, providing for a more expansive
      platform upon which to build our new business model upon.

   *  On September 12, 2006 the Company announced the offering of a
      $65,000,000 convertible, non-retractable, redeemable unsecured bond for
      the purpose of financing the acquisition of as many as two
      international revenue producing oil and gas opportunities similar to
      that of San Enrique. The Pluris Bond "A" is structured in a manner that
      could, upon the successful completion of target acquisitions,
      dramatically impact shareholder value with only marginal dilution to
      the common shares of the Company due the Bond's phased conversion at
      prices ranging from $3.25 to $9.25 per share over the next five years.

   *  In October, 2006, Pluris Energy increased its authorized capital
      structure from 20,000,000 common shares to 250,000,000 common shares
      and 100,000,000 preferred shares. This ensures the Company's long-term
      flexibility in raising capital and acquiring assets to fulfill our
      growth mandates for years to come, without immediate dilution to the
      common share capital of the Company until capital asset values are
      appreciably realized.

   *  Pluris Energy's plans to register and list its common shares through an
      Initial Public Offering (IPO) on the Oslo Bors are currently on-track.
      The Oslo Bors is one of the fastest growing stock exchanges in the
      world and most notably one which is most aligned with the value
      principles associated specifically with the energy industry. We
      anticipate that listing Pluris Energy's common shares on the Oslo Bors
      could provide our shareholders with superior quality of order
      execution, a more orderly market providing increased liquidity and
      potentially greater access to an expanded sphere of sophisticated and
      active international energy investment communities. Pluris Energy's
      common shares will continue to be quoted in the United States
      subsequent to the planned IPO on the Oslo Bors.Pluris Energy's Chairman and Chief Executive Officer, Sacha H. Spindler, stated, "In light of the very unique and significant opportunities that we have positioned Pluris Energy to benefit from, and as we make corporate changes to ensure those opportunities can be fully captured, it is also important to recognize and address the challenges that helped shape our new business model and corporate directives. In that regard, over the past few months our share price has lost value after several million shares were sold in the Company's market following management's decision to release the Company from non-performing finance agreements. This situation was compounded by difficulties in developing our Texas Gulf Coast assets due to increased competition in an already tight market for drilling rigs and crews. Facing these challenges led us to reassess our core competencies and our future business directives. Our new directives better utilize management's skills, experience and spheres of influence in a more focused and effective manner that could result in direct impact to the realization of a substantial revenue platform that we believe will provide for stable long term value growth for our shareholders."

Mr. Spindler further stated, "We look forward to making announcements about our progress related to our South American acquisition mandate soon and thank our shareholders for their patience and support as we continue to work toward the fulfillment of the Company's new business plans."

About Pluris Energy

Pluris Energy Group Inc. is an international energy company engaged in the acquisition and development of non-operated producing oil and gas interests in global high profile development plays. Pluris Energy is also investing in the research and development of energy efficiency technologies aiming to maximize the diversification of the worldwide energy grid. For further information, please visit the Company's website at www.pluris.com

This news release contains "forward-looking statements". Statements in this press release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among others, the expectation and/or claim, as applicable, that: (i) that the Company plans to acquire non-operated, producing oil and gas interests in international high-profile areas; (ii) that the Company will better exploit its skill sets and core competencies for the benefit of the shareholders; (iii) that the San Enrique development interests have certain proved, probable and possible oil reserves, including reserves of approximately 49 million barrels of oil equivalents; (iv) that the acquisition of San Enrique Petrolera, SA will complete; (v) that the Company will complete other acquisitions in Argentina; (vi) that San Enrique's portfolio is made up of oil and gas properties with significant upside; (vii) that the Company's bond offering will close and the proceeds will be utilized to purchase San Enrique and other assets; and (viii) that the Company's common shares will be listed on the Oslo Bors stock exchange.

It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others: (i) the continued demand for oil and gas; (ii) the failure to identify and acquire producing oil and gas interests in international high-profile areas and in Argentina; (iii) the failure to complete the acquisition of San Enrique Petrolera, SA for whatever reason; (iv) the failure to raise proceeds, including the failure to complete the issuance of all the bonds, necessary to complete any acquisitions of producing oil and gas interests in international high-profile areas; (v) the accuracy of the predicted reserves for San Enrique's development interests; (vi) the uncertainty of the requirements demanded by stock exchange listing authorities; (vii) the uncertainty of the requirements demanded by environmental agencies; (viii) the company's ability to raise debt or equity financing for operations, inability to maintain qualified employees or consultants, and the likelihood that no commercial quantities of oil and gas are found or recoverable. For more risk factors about our company, readers should refer to risk disclosure in our recent forms 10-KSB and 10-QSB filed with the SEC on Edgar.

    Company Contact
    Louis J. Fruchier
    Senior V.P. Corporate Developments
    Pluris Energy Group Inc.
    281-383-9403
    fruchier@pluris.com

To date, Pluris has focused its international business development interests on the Southern Cone region of South America and specifically in Argentina, largely due to its profile as being relatively under-explored with significant reserves and steady to high production growth potential with moderate to low risk. These unique attributes provide for substantially higher rates of return on investments for pioneering oil and gas enterprises like Pluris Energy. With only five out of nineteen hydrocarbon bearing basins currently in production and billions of dollars in energy investment recently committed by international energy development companies, Argentina can provide our shareholders a foundation to access attractive existing opportunities as well as excellent ground floor exploration prospects towards potentially developing a significant opportunity platform in this rapidly expanding, yet under-developed region.



Pluris Energy has already made significant inroads in Argentina by entering into a Shares Purchase Agreement to acquire San Enrique Petrolera, SA (San Enrique), an oil and gas upstream and midstream company located in Buenos Aires, Argentina, as previously announced in our September 12, 2006 news release. San Enrique controls over 251,000 net acres of producing oil and gas fields, representing 3P reserves estimated at approximately 49 million barrels of oil equivalents with current net production of over 1,000 barrels of oil equivalent per day.



As part of the Company’s overall growth agenda and business mandate, Pluris Energy plans to make a number of South American acquisitions of producing hydrocarbon interests in the future with similar characteristics and metrics to those of San Enrique’s. As such, we have strengthened our corporate structure to reflect these new opportunities. Most specifically, the company has completed the following changes:



On September 12, 2006, Pluris Energy completed a five-for-one consolidation of its common shares, providing for a more expansive platform upon which to build our new business model upon.
On September 12, 2006 the Company announced the offering of a $65,000,000 convertible, non-retractable, redeemable unsecured bond for the purpose of financing the acquisition of as many as two international revenue producing oil and gas opportunities similar to that of San Enrique. The Pluris Bond “A” is structured in a manner that could, upon the successful completion of target acquisitions, dramatically impact shareholder value with only marginal dilution to the common shares of the Company due the Bond’s phased conversion at prices ranging from $3.25 to $9.25 per share over the next five years.  
In October, 2006, Pluris Energy increased its authorized capital structure from 20,000,000 common shares to 250,000,000 common shares and 100,000,000 preferred shares. This ensures the Company’s long-term flexibility in raising capital and acquiring assets to fulfill our growth mandates for years to come, without immediate dilution to the common share capital of the Company until capital asset values are appreciably realized.
Pluris Energy’s plans to register and list its common shares through an Initial Public Offering (IPO) on the Oslo Bors are currently on-track. The Oslo Bors is one of the fastest growing stock exchanges in the world and most notably one which is most aligned with the value principles associated specifically with the energy industry. We anticipate that listing Pluris Energy’s common shares on the Oslo Bors could provide our shareholders with superior quality of order execution, a more orderly market providing increased liquidity and potentially greater access to an expanded sphere of sophisticated and active international energy investment communities. Pluris Energy’s common shares will continue to be quoted in the United States subsequent to the planned IPO on the Oslo Bors.


Pluris Energy’s Chairman and Chief Executive Officer, Sacha H. Spindler, stated, “In light of the very unique and significant opportunities that we have positioned Pluris Energy to benefit from, and as we make corporate changes to ensure those opportunities can be fully captured, it is also important to recognize and address the challenges that helped shape our new business model and corporate directives. In that regard, over the past few months our share price has lost value after several million shares were sold in the Company’s market following management’s decision to release the Company from non-performing finance agreements. This situation was compounded by difficulties in developing our Texas Gulf Coast assets due to increased competition in an already tight market for drilling rigs and crews. Facing these challenges led us to reassess our core competencies and our future business directives. Our new directives better utilize management’s skills, experience and spheres of influence in a more focused and effective manner that could result in direct impact to the realization of a substantial revenue platform that we believe will provide for stable long term value growth for our shareholders.”



Mr. Spindler further stated, “We look forward to making announcements about our progress related to our South American acquisition mandate soon and thank our shareholders for their patience and support as we continue to work toward the fulfillment of the Company’s new business plans.”





About Pluris Energy



Pluris Energy Group Inc. is an international energy company engaged in the acquisition and development of non-operated producing oil and gas interests in global high profile development plays. Pluris Energy is also investing in the research and development of energy efficiency technologies aiming to maximize the diversification of the worldwide energy grid. For further information, please visit the Company’s website at www.pluris.com



Company Contact

Louis J. Fruchier

Senior V.P. Corporate Developments

Pluris Energy Group Inc.

281-383-9403

fruchier@pluris.com



# # #



This news release contains “forward-looking statements”.  Statements in this press release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future.  Such forward-looking statements include, among others, the expectation and/or claim, as applicable, that: (i) that the Company plans to acquire non-operated, producing oil and gas interests in international high-profile areas; (ii) that the Company will better exploit its skill sets and core competencies for the benefit of the shareholders; (iii) that the San Enrique development interests have certain proved, probable and possible oil reserves, including reserves of approximately 49 million barrels of oil equivalents; (iv) that the acquisition of San Enrique Petrolera, SA will complete; (v) that the Company will complete other acquisitions in Argentina; (vi) that San Enrique’s portfolio is made up of oil and gas properties with significant upside; (vii) that the Company’s bond offering will close and the proceeds will be utilized to purchase San Enrique and other assets; and (viii) that the Company’s common shares will be listed on the Oslo Bors stock exchange.



It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements.  Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others: (i) the continued demand for oil and gas; (ii) the failure to identify and acquire producing oil and gas interests in international high-profile areas and in Argentina; (iii) the failure to complete the acquisition of San Enrique Petrolera, SA for whatever reason; (iv) the failure to raise proceeds, including the failure to complete the issuance of all the bonds, necessary to complete any acquisitions of producing oil and gas interests in international high-profile areas; (v) the accuracy of the predicted reserves for San Enrique’s development interests; (vi) the uncertainty of the requirements demanded by stock exchange listing authorities; (vii) the uncertainty of the requirements demanded by environmental agencies; (viii) the company’s ability to raise debt or equity financing for operations, inability to maintain qualified employees or consultants, and the likelihood that no commercial quantities of oil and gas are found or recoverable.  For more risk factors about our company, readers should refer to risk disclosure in our recent forms 10-KSB and 10-QSB filed with the SEC on Edgar.




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Pluris Energy's Vice President Business Development Asia, Jamie C.T. Liu stated, "We are very excited TGSC is onboard as one of Pluris Energy's incoming finance groups. We have been working diligently with them for several months now, developing our funding initiatives and financial structure to arrive at this very important marker in the Company's financial development plans related to our mandate of acquiring non-operated revenue producing companies and assets in international oil and gas regions such as Argentina."

The Bonds are a convertible, non-retractable, redeemable, unsecured, subordinated financial instrument that provides the holders thereof a significant set of financial participation components to choose from over the five-year term of the Bonds. Some of these attributes include conversion privileges and mandatory conversion rights, whereby a specified percentage of the Bonds can be converted into common shares of Pluris Energy on a year over year basis for up to 100% conversion of the Bonds into common shares of the Company over their five year term. Conversion prices range from $3.25 per converted common share to $9.75 per converted common share. The Bonds pay interest at a rate of LIBOR plus 5% per annum, but not less than 10.5% per annum and not greater than 13% per annum. Additionally, the Bonds retain a first priority right over distributions from any of the assets acquired with proceeds raised from the Bonds as well as certain profit participation rights resulting from predetermined percentage gains that may accrue from any future sale of assets purchased from Bond proceeds. Management of the Company is currently assessing listing the Bonds on the Oslo Alternative Bond Market, located in Oslo Norway.*

TGSC's Director, Thomas Chung was quoted stating, "Aligning our financial interests with Pluris Energy provides our client base with investment access to the rapidly growing South American oil and gas industry at a very opportune time for TGSC. We are very pleased to be working with Pluris Energy and anticipate a successful and long term relationship with them as one of their finance coordinators and consultants engaged in the development of their international oil and gas production portfolio."

Pluris Energy's Chairman and Chief Executive Officer, Mr. Sacha H. Spindler stated, "Pluris Energy is already well positioned in Argentina with our agreement to purchase San Enrique Petrolera, and to also continue toward our business plans related to securing the rights in additional asset opportunities in South America that we have already identified and are acting upon. Aligning Pluris Energy's opportunity sets with international financiers such as TGSC allows the Company to develop a broad investor and shareholder base with a solid global presence as we continue to develop our energy portfolio, while at the same time consistently developing greater international exposure to the Company's value propositions, which can result in greater liquidity for our shareholders and investors."

Argentina Energy Industry Investment Facts

China has been rapidly expanding its financial presence in Latin America due in part to its need to secure reliable sources of energy for its continued long-term growth and expansion. China recently committed $5 billion in strategic energy based investments in Argentina, thus establishing it as one of the foremost contributors to the ongoing expansion of the Argentine energy industry, adding to the other recent Argentine oil and gas investment commitments made by Repsol-YPF of $4.6 billion and $1.5 billion from Petrobras.

About Pluris Energy

Pluris Energy Group Inc. is an international energy company engaged in the acquisition and development of non-operated producing oil and gas interests in global high profile development plays. Pluris Energy is also investing in the research and development of energy efficiency technologies aiming to maximize the diversification of the worldwide energy grid. For further information, please visit the Company's website at www.pluris.com

Forward-Looking Statement Disclaimer

This news release contains "forward-looking statements". Statements in this press release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements are identified with "*" and include, among others, the expectation and/or claim, as applicable, that (i) the Company will be able to sell its offering of the Bonds, (ii) the Company will acquire non-operated, producing oil and gas interests in the international oil and gas arena, such as Argentina, (iii) that the Bonds will be listed on the Oslo Alternative Bond Market, (iv) that the Company will complete the purchase of the shares of San Enrique Petrolera, SA, and (v) acquire the rights to other asset opportunities in South America.

It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others: (i) the failure to find investors willing to purchase all or a significant portion of the Bonds, (ii) the continued demand for oil and gas; (iii) the failure to identify and acquire non-operated producing oil and gas interests or other assets in the international arena, in Argentina, in South America, or otherwise; (iv) the failure to complete the acquisition of San Enrique Petrolera, SA or any other planned acquisitions for whatever reason; (v) the failure to raise proceeds, including the failure to complete the issuance of all or any of the Bonds, necessary to complete any acquisitions of producing oil and gas interests; (vi) the accuracy of the predicted reserves for San Enrique's development interests; (vii) the uncertainty of the requirements demanded by environmental agencies; (viii) the Company's ability to raise debt or equity financing for operations, (ix) the Company's ability to maintain qualified employees or consultants, and (x) the likelihood that no commercial quantities of oil and gas are found or recoverable on any properties in which the Company has an interest. For more risk factors about the Company, readers should refer to risk disclosure in our recent forms 10-KSB and 10-QSB filed with the SEC on Edgar.

SOURCE Pluris Energy Group Inc.

CONTACT:          Louis J. Fruchier, Senior V.P. Corporate Developments of Pluris Energy Group Inc.,
                 +1-281-383-9403, or fruchier@pluris.com

URL:              www.pluris.com
                 www.prnewswire.com
www.prnewswire.com

Copyright (C) 2006 PR Newswire. All rights reserved

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KEYWORD:          Texas
INDUSTRY KEYWORD: OIL
                 FIN
                 OTC
SUBJECT CODE:     ASI

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Terra is a full scale Oslo, Norway based investment banking firm and is a subsidiary of the Terra Gruppen AS. Terra is a member of the Oslo and Stockholm stock exchanges, has over 30,000 registered clients with a gross turnover of executed transactions of over USD$ 16 billion, year-to-date. Terra has so far this year executed approximately USD$ 2.5 billion in new bond issues and more than USD$ 500 million in equity transactions, private placements and public offerings as lead and co-lead manager. Terra is a diverse investment banking firm that provides equity sales, equity research specifically focused upon the oil and gas, materials, energy and financial services sectors, corporate finance services within IPO’s, mergers and acquisitions, public and private placements and structured finance deals as well as providing debt capital market services (“DCM”), where it conducts DCM sales, new DCM issues and DCM syndications.  



The Agreement sets out that Terra will provide services to Pluris Energy as its exclusive financial and investment banking advisor in the preparation of a prospectus and other investor documentation in connection with Pluris Energy’s filings for its proposed IPO of the common shares of the Company on the Oslo Bors stock exchange, currently targeted for the second quarter of 2007. Terra will additionally advise and assist the Company in listing Pluris Energy’s “A” bonds on the Oslo ABM. In this regard, Terra will advise Pluris Energy in relation to the structure of the proposed IPO and ABM listing, such as issue size, subscription pricing, as well as all other matters related to subscription rights, payment guarantees, valuations and valuation models related to the Company and the assets being acquired by Pluris Energy through purchase agreements entered into related to the Company’s South American business development mandate.*  



Pluris Energy’s Chairman and Chief Executive Officer, Sacha H. Spindler stated, “We are very pleased to be working with Terra Securities to move forward with our corporate plans associated with the Company’s proposed IPO on the Oslo Bors stock exchange and the listing of our “A” bonds on the Oslo ABM. With this agreement now in place, Pluris Energy is strongly positioned to complete upon its mandate of registering and listing the common shares and bonds of the Company in the European market place and most specifically in a marketplace such as Oslo, Norway, which understands and imbues the value principles associated with international oil and gas enterprises such as Pluris Energy.” Mr. Spindler further stated, “Entering into the Mandate Agreement with Terra Securities creates the foundation for our shareholders that we believe provides Pluris Energy with the best opportunity to move toward realizing the fundamental value of the Company’s current development plans as it relates to our South American acquisition mandate and most specifically, as it relates to Pluris Energy’s incoming portfolio of producing oil and gas assets upon completion of its acquisition of San Enrique Petrolera.”*



The Oslo Bors stock exchange is located in Oslo, Norway and is one of the fasted growing stock exchanges in the world. Norway is one of the largest oil and gas production and development regions in the world, which has resulted in the Oslo financial community being one of the most sophisticated and proactive international oil and gas investment communities. The majority of major international banks retain seats on the Oslo Bors.  Financial firms located in Oslo, Norway have deep access to international funds desirous of investing in companies listed on the Oslo Bors due to the nature of the Oslo investment community’s depth of understanding of the oil and gas sector. Additionally, this is due in part to the fact that the Oslo Bors has developed and maintains one of the most sophisticated market surveillance systems in the world, which can result in higher valuations and greater liquidity for oil and gas companies listed on the exchange. Upon completion of the Company’s proposed IPO on the Oslo Bors, the common shares of Pluris Energy will continue to be quoted and traded in the United States.



About Pluris Energy



Pluris Energy Group Inc. is an international energy company engaged in the acquisition and development of non-operated producing oil and gas interests in global high profile development plays. Pluris Energy is also investing in the research and development of energy efficiency technologies aiming to maximize the diversification of the worldwide energy grid. For further information, please visit the Company’s website at www.pluris.com



Company Contact

Louis J. Fruchier

Senior V.P. Corporate Developments

Pluris Energy Group Inc.

281-383-9403

fruchier@pluris.com





# # #



Forward-Looking Statement Disclaimer



This news release contains “forward-looking statements”.  Statements in this press release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future.  Such forward-looking statements are identified with “*” and include, among others, the expectation and/or claim, as applicable, that (i) the Company will complete an IPO and registration of Pluris Energy’s common shares on the Oslo Bors stock exchange, (ii) the Company will complete the listing of Pluris Energy’s “A” bonds on the Oslo Alternative Bond Market, (iii) that the Company will be able to sell its offering of the “A” bonds, and (iv) that the Company will complete the purchase of the shares of San Enrique Petrolera, SA.



It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements.  Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others: (i) the failure by Terra to find investors who will purchase the Company’s shares in the proposed IPO, (ii) the failure to list the Company’s common shares on the Oslo Bors stock exchange for whatever reason, (iii) the failure to find investors willing to purchase all or a significant portion of the “A” bonds, (iv) the failure to list the “A” bonds on the Oslo Alternative Bond Market, (v) the failure that entering into the agreement with Terra Securities will provide the best opportunity to move toward realizing the fundamental value of the Company’s development plans related to its South American acquisition mandate, (vi) the continued demand for oil and gas; (vii) the failure to complete the acquisition of San Enrique Petrolera, SA or any other planned acquisitions for whatever reason; (viii) the failure to raise proceeds from the proposed IPO, including the failure to complete the issuance of all or any of the “A” bonds, necessary to complete any acquisitions of producing oil and gas interests; (ix) the accuracy of the predicted reserves for San Enrique’s development interests; (x) the uncertainty of the requirements demanded by environmental agencies; (xi) the Company’s ability to raise debt or equity financing for operations, (xii) the Company’s ability to maintain qualified employees or consultants, and (xiii) the likelihood that no commercial quantities of oil and gas are found or recoverable on any properties in which the Company has an interest.  For more risk factors about the Company, readers should refer to risk disclosure in our recent forms 10-KSB and 10-QSB filed with the SEC on Edgar.


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Form 8-K for PLURIS ENERGY GROUP INC

14-Mar-2007

Other Events


Item 8.01 Other Events

On March 8, 2007, we entered into a purchase and sale agreement with Petrogen Inc. and Darcy Energy LLC whereby we agreed to sell to Darcy Energy our: (i) 64.125% working interest; and (ii) 77.5% net revenue interest (resulting in 49.697% net of all proceeds from hydrocarbon sales) in approximately 1,571 gross (1,156.65 net) undeveloped acreage of oil and gas leases located in Matagorda Island, Calhoun County, Texas, for US$500,000, subject to adjustment in certain circumstances.

CW1108894.1