Otish Energy Announces $500,000 Financing

Otish Energy Inc. (the "Company") (TSX VENTURE:OEI) announces that it has
arranged, subject to the acceptance of the TSX Venture Exchange, a private
placement totaling $500,000. These funds will be raised by the Company issuing
up to 2.5 million units at a price of $0.20 per unit, each unit consisting of
one common share and one-half of one share purchase warrant. Each whole warrant
will entitle the holder, on exercise, to purchase one common share for a period
of one year, at a price of $0.25.


Finder's fees may be payable on a portion of the private placement, in
accordance with the policies of the TSX Venture Exchange. 


The net proceeds of the private placement will be used to further exploration on
the Company's properties and for working capital purposes. 


On Behalf of the Board of Otish Energy Inc.

Steve Smith, President

This news release may contain forward-looking statements based on assumptions
and judgments of management regarding future events or results. Such statements
are subject to a variety of risks and uncertainties which could cause actual
events or results to differ materially from those reflected in the
forward-looking statements. The Company disclaims any intention or obligation to
revise or update such statements.

Otish Energy Inc. (TSXV:OEI)
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