SOURCE: Eldorado Exploration, Inc.

December 23, 2008 16:06 ET

Eldorado Exploration Well Results

IRVINE, CA--(Marketwire - December 23, 2008) - Eldorado Exploration, Inc. (PINKSHEETS: EDEX) announced today that the well Leka #1, drilled to the Trenton Dolomite at 2340 Feet, in Sangamon County, Illinois, did not produce a commercial discovery of oil and gas. Although gas was found in the Albany Shale, the amount was not in sufficient quantities to complete. Due to budget constraints, testing deeper potential zones to 5000 plus Feet will not be attempted at this time.

Eldorado Exploration will drill next in Texas on sites currently being leased. The first well should commence drilling in April 2009.

Eldorado Exploration, Inc. is an independent oil and gas exploration Company headquartered in Irvine, California.

Please be advised that statements made herein, other than historical data, constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, potential volatility in the company's stock price, increased competition, customer acceptance of new products and services offered by the company, uncertainty of future revenue and profitability, and fluctuations in its quarterly operating results. Please also be advised that Eldorado Exploration is a non-reporting Pink Sheets company and is not required to be registered with the Securities and Exchange Commission.

For additional information about Eldorado Exploration, please visit www.eldoradoexploration.com or e-mail eldoex@yahoo.com.