Probe Announces Gas Discovery at East Cameron 246

THE WOODLANDS, TEXAS -- (MARKET WIRE) -- 10/30/08 --  Probe Resources
Ltd. (the "Company" or "Probe") (TSX VENTURE: PBR) is pleased to
announce that it has discovered commercial gas reserves in its East
Cameron 246 No. 2 well located in the U.S. Gulf of Mexico. The well
is currently being drilled and has reached a measured depth of 9,346
feet and a true vertical depth of 6,694 feet as of 6:00am CDT today.
The Company encountered its primary objective in the Lentic formation
logging approximately 45 feet of net pay. It is anticipated that the
planned total depth of the well will be reached early next week. The
expected gross production rate from this formation is 10 - 15 MMcfd.
Probe holds a 100% working interest ("WI") and a 70% net revenue
interest ("NRI") in the well.
 
Upon completion of the drilling activities, production casing will be
run and the well will be suspended awaiting production facilities.
Production from the field is expected to commence late in the first
quarter of 2009. Further drilling in the field is planned during
2009.
 
Along with this discovery, the Company is currently executing the
development plan on its previously announced discovery at the East
Cameron 36 No. 1 well. The expected gross production rate for this
well is 5 - 10 MMcfd. Probe holds a 100% WI and a 69.5% NRI in the
well. Production is expected to commence in the first quarter of
2009.
 
Scott Broussard, Chairman and CEO of Probe, commented; "We are
encouraged by the recent success in our initial drilling program, and
we anticipate a continuation of gas discoveries consistent with our
expectations."
 
The Company also announces that the drilling rig under contract to
drill the South Timbalier 214 well is expected to move on to location
in mid November, 2008. The rig has experienced significant delays in
its completion of work for another operator due in large part to
Hurricane Ike. Probe holds a 100% WI and a 70% NRI in the well.
 
Additionally, due to extensive damage to onshore facilities, the
Company's High Island 115 B-1 sidetrack No. 2 well has not returned
to production since Hurricane Ike. Repairs to the facilities are
ongoing and should be completed by mid November. Probe holds a 41.5%
WI and a 30.9% NRI in the well.
 
Details of the current drilling program are more fully described in
the Company's National Instrument 51-101 report filed June 5, 2008
and available for review at www.sedar.com and on the Company's
website.
 
About Probe Resources Ltd.
 
The Company, along with its wholly owned subsidiary Probe Resources
US Ltd. located in The Woodlands, Texas, is an oil and natural gas
exploration and production company focused on generating, acquiring,
developing, and operating drilling prospects within the Texas and
Louisiana Outer Continental Shelf of the Gulf of Mexico.
 
ON BEHALF OF PROBE RESOURCES LTD.
 
Scott Broussard, Chief Executive Officer and Chairman of the Board
 
This news release does not constitute an offer to sell or a
solicitation of an offer to buy any of the Company's securities in
the United States. The Company's securities have not been and will
not be registered under the United States Securities Act of 1933, as
amended (the "U.S. Securities Act") or any state securities laws and
may not be offered or sold within the United States or to U.S.
persons unless registered under the U.S. Securities Act and
applicable state securities laws or an exemption from such
registration is available.
 
Statements in this press release may contain forward-looking
information including expectations of future operations (including
drill rig commitments and use of proceeds), commerciality of any gas
discovered, production rates, operating costs, commodity prices,
administrative costs, commodity price risk management activity,
acquisitions and dispositions, capital spending, access to credit
facilities, income and oil taxes, regulatory changes, and other
components of cash flow and earnings. The reader is cautioned that
assumptions used in the preparation of such information may prove to
be incorrect. Events or circumstances may cause actual results to
differ materially from those predicted, a result of numerous known
and unknown risks, uncertainties, and other factors, many of which
are beyond the control of the Company. These risks include, but are
not limited to, the risks associated with the oil and gas industry,
commodity prices and exchange rate changes. Industry related risks
could include, but are not limited to, operational risks in
exploration, development and production, delays or changes in plans,
risks associated to the uncertainty of reserve estimates, or
reservoir performance, health and safety risks and the uncertainty of
estimates and projections of production, costs and expenses. The
reader is cautioned not to place undue reliance on this
forward-looking information.
 
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
 
Contacts:
Probe Resources Ltd.
Scott Broussard
Chief Executive Officer and Chairman of the Board
(281) 210-1170
Email: sbroussard@probe-resources.com
Website: www.probe-resources.com
 
This announcement was originally distributed by Hugin. The issuer is 
solely responsible for the content of this announcement.