NEWS

Aug 17, 2007

EERG Reports Abandoned Lytham North Sea Gas Well

LITTLETON, Colo., Aug. 17, 2007 (PRIME NEWSWIRE) -- Eternal Energy Corp. (OTCBB:EERG) acknowledges Lundin Petroleum’s (operator; OMX Stockholm) proposal to plug and abandon the Lytham prospect after the well encountered subeconomic gas reserves.

The Lytham prospect is located in block 41/10a, production licence P1129, located in the southern sector of the United Kingdom continental shelf. Partners are Lundin Petroleum (operator), Challenger Minerals (North Sea) Ltd. and Palace Exploration Co. Ltd., with Gulf Shores UK Petroleum Ltd., Eternal Energy Ltd. and Monarch Energy Ltd.

As previously reported, discussions continue among EERG, Palace Exploration Co. Ltd. and International Frontier Resources to reach final agreement on the extent of Eternal Energy’s participation and exposure.

About Eternal Energy Corp.:
Eternal Energy Corp. is an oil and gas company engaged in the exploration for petroleum and natural gas in the State of Nevada and the North Sea. The company was incorporated in Nevada on July 25, 2003 to engage in the acquisition, exploration and development of natural resource properties. The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release contains statements that are forward-looking, such as statements related to the future anticipated direction of the industry, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales growth, and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by, or on behalf of Eternal Energy Corp. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, and domestic and global economic conditions.
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CONTACT: Jamie Kelley, Investor Relations, Eternal Energy Corp., +1- 604-730-2776