October 31, 2008

The common shares of Onco Petroleum ("OPI") are currently suspended from trading on CNQ for failure to comply with CNQ requirements (Bulletin 2008-0801). Pursuant to CNQ Policy 3-4.1, Onco was subject to automatic delisting November 3, following the 90 day suspension.

The Company has requested and been granted a 90 day extension to February 3, 2009. If the Company has not been reinstated for trading it will be automatically delisted pursuant to CNQ Policy.

For further information please contact Radhika Ramkarran at (416) 572-2000 X 2435 or E-mail: radhika.ramkarran@cnq.ca