Petrocapita Land Acquisition – Alberta

June 1, 2010 Calgary

Petrocapita Income Trust is pleased to announce the purchase of LSD 12 of 22-50-2-W4M with
2 re-entry targets. This acquisition adds to Petrocapita’s existing Dulwich asset base: LSDs
2,3,4,5,11,12 & 15 of 28-50-2-W4M with 3 producing wells.

Stephen Johnston, managing director at Petrocapita Income Trust, commented that "The CRB
has experienced an approximately 60% recovery to around 485, a new all time high, surpassing
its previous high of 481 set in July 2008. Why such a rapid rebound in commodity prices? I
believe it represents a combination of real price increases due to superior supply & demand
fundamentals in agriculture and energy and a healthy dose of nominal re-pricing to offset
ongoing currency debasement. Via alternative investment funds such as Petrocapita, investors
can get highly efficient and targeted exposure to themes in which they believe. Alternative
investment funds are often small and nimble enough to take advantage of niche strategies that
can’t be exploited by their often less innovative mainstream counterparts. This seems
particularly the case then dealing with small but accretive acquisitions in the oil & gas space.
Smaller transactions attract less competition and are often more competitively priced,
particularly in western Canada.”

Petrocapita is a Calgary based energy investment trust built around the core premise that the
world is in a bull market in commodities driven by inflation and a step-change increase in
demand and, accordingly, that investments with direct or indirect exposure to commodities in a
politically stable environment such as Canada will provide above average returns. Our goal is to
match sound macro-economic thinking with sound operational strategies to generate long-term
income and capital appreciation. Petrocapita was designed to fill the niche formerly occupied
by the public energy income trust and is building a portfolio of oil assets with a focus on low
cost acquisition of cash flow. The fund was created to allow investors to add professionally
managed oil & gas assets directly to their portfolios without the need to take on the complex
responsibilities of ownership themselves. Petrocapita is eligible for all registered plans including
RRSPs and TFSAs.

DISCLAIMER: The opinions, estimates, projections and other information which is contained herein and derived
from or attributable to persons other than PETROCAPITA is neither endorsed nor adopted by PETROCAPITA – it is
presented for informational purposes only. Further, the opinions, estimates, projections and other information
contained herein are not intended and are not to be construed as an offer to sell, or a solicitation to buy, any
securities including those of PETROCAPITA and its affiliates, nor shall such opinions, estimates, projections and
other information be considered as investment advice or as a recommendation to enter into any transaction. There
shall not be any sale of PETROCAPITA securities outside of Canada or in any province of Canada in which such
offer, solicitation or sale would be unlawful, and any such sale may only be made to prospective investors who meet
certain eligibility criteria and who first receive any applicable offering documentation. In particular investors must
currently be residents of Alberta or British Columbia and be Accredited Investors. Three of the more common
categories within which persons may fit in order to qualify as an Accredited Investor are: (i) an individual who, either
alone or with a spouse, beneficially owns financial assets (primarily being cash and securities) having an aggregate
realizable value that before taxes, but net of any related liabilities, exceeds $1,000,000; (ii) an individual whose net
income before taxes exceeded $200,000 in each of the two most recent years or whose net income before taxes
combined with that of a spouse exceeded $300,000 in each of the two most recent years and who, in either case,
reasonably expects to exceed that net income level in the current year; or (iii) an individual who, either alone or with a
spouse, has net assets of at least $5,000,000.

PETROCAPITA securities have not been, and will not be, registered under the United States Securities Act of
1933, as amended (the "US Securities Act") or the securities laws of any state, and may not be offered, sold
or delivered within the United States or to, or for the account or benefit of, US persons (as defined by
Regulation S under the US Securities Act). This document is not for distribution on U.S. wire services or
dissemination in the United States.

FORWARD-LOOKING INFORMATION: This news release may contain certain information that is forward looking
and, by its nature, such forward-looking information is subject to important risks and uncertainties. The words
"anticipate", "expect", "may", "should", "estimate", "project", "outlook", "forecast" or other similar words are used to
identify such forward looking information. Those forward-looking statements herein made by PETROCAPITA, if any,
reflect PETROCAPITA’s beliefs and assumptions based on information available at the time the statements were
made (including, without limitation, that (i) the demand for energy will continue to grow at a pace that is unlikely to be
matched by growth in production, and (ii) investment demand for tangible assets such as oil and gas assets will
continue to increase for the foreseeable future). Actual results or events may differ from those anticipated or
predicted in these forward-looking statements, and the differences may be material. Factors which could cause
actual results or events to differ materially from current expectations include, among other things: risks associated
with the ownership and operation of oil and gas assets, including fluctuations in interest rates; general economic
conditions; local markets; supply and demand for energy; competition for available oil and gas assets; weather; the
price of oil and energy commodities; changes in legislation and the regulatory environment; and international trade
and global political conditions. Readers are cautioned not to place undue reliance on any forward-looking information
contained in this news release (if any), which is given as of the date it is expressed herein. PETROCAPITA
undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new
information, future events or otherwise.

For further information please contact:

Stephen Johnston – Managing Director
Petrocapita Income Trust
400, 2424 – 4th Street SW
Calgary, Alberta T2S 2T4
Tel: +1.403.218.6506
Fax: +1.403.266.1541
Email: sjohnston@petrocapita.com
Web: www.petrocapita.com