Petrosearch Energy Announces $8.1 million Financing

HOUSTON, TX – November 13, 2007, Petrosearch Energy Corporation (OTCBB: PTSG) announced today that on November 9, 2007 it executed a Note and Warrant Purchase Agreement with several Institutional Investors and high net worth individuals for the sale of a series of convertible notes totaling $8,100,000, 8% Secured Convertible Promissory Notes and three-year warrants to purchase an aggregate of 1,928,575 shares of common stock at an exercise price of $1.50 per share for total gross proceeds of $8,100,000. At the option of the investors, the three-year Convertible Notes will be convertible into shares of common stock at a price of $1.05. The Warrants are exercisable immediately.

The Convertible Notes are collateralized by a security interest in five percent of the membership interest of the Company's wholly owned subsidiary, Exploration Holding Co., LLC, which owns onehundred percent of Barnett Petrosearch, LLC. Barnett Petrosearch is the subsidiary which owns a 5.54% interest in DDJET, Limited, LLP, and participates in the Barnett Shale Project.

Commenting on the financing, Richard Dole, Petrosearch's Chief Executive Officer stated, "We are pleased to have executed a financing that will provide the necessary capital to continue the ramping up of our Barnett Shale Project. We are very excited about the results of the Barnett Shale Project to date as well as the future prospects."

Additional details of the transaction are available in the company's Form 8-K filing.