Trafalgar Energy Ltd. enters into bought deal financing

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR

DISSEMINATION IN THE UNITED STATES/

CALGARY, April 24 /CNW/ - Trafalgar Energy Ltd. (TSX symbol: TFL) ("Trafalgar" or the "Company") is pleased to announce that it has entered into an agreement with a syndicate of underwriters led by Canaccord Capital Corporation and including Cormark Securities Inc., Blackmont Capital Inc., Scotia Capital Inc., Acumen Capital Finance Partners Limited, Research Capital Corporation and Paradigm Capital Inc., pursuant to which the underwriters have agreed to purchase 1,364,000 Common Shares to be issued on a "flow through" basis ("Flow-Through Shares") at an issue price of $4.40 per Flow-Through Share for gross proceeds to Trafalgar of $6,001,600 on a "bought deal" private placement basis.

Trafalgar has also granted the underwriters an option to buy up to an additional 205,000 Flow-Through Shares for additional gross proceeds of approximately $902,000. Gross proceeds from the sale of the Flow-Through Shares will be used to fund ongoing exploration activities eligible for Canadian exploration expenses. The eligible exploration expenses will be renounced to the subscribers for the Flow-Through Shares effective on or before December 31, 2008. The Offering is scheduled to close on or about May 15, 2008 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals.

The securities offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Forward Looking Statements - Certain information regarding Trafalgar set forth in this document, including management's assessment of Trafalgar's future plans and operations, contains forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond Trafalgar's control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other producers, the lack of availability of qualified personnel or management, stock market volatility and ability to access sufficient capital from internal and external sources. Trafalgar's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits that Trafalgar will derive therefrom.

Contacts

TRAFALGAR ENERGY LTD.
Robert Wollmann
President and CEO
Telephone (403) 216-2706
Email rwollmann@trafalgarenergy.ca

Daniel Belot
Vice President Finance and Chief Financial Officer
Telephone (403) 216-2707
Email dbelot@trafalgarenergy.ca or visit www.trafalgarenergy.ca