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RNS Number:3783Z
First Calgary Petroleums Ltd
31 July 2002


                             Press Announcement

                         First Calgary Petroleums Ltd.

                First Calgary Petroleums Raises $25 million
 
                                    AND

                            IS ADMITTED TO AIM

                               July 30, 2002


This announcement is not being made or transmitted in or into the United States
of America.  This announcement does not constitute an offer or invitation to
sell or issue, or any solicitation of any offer to purchase or subscribe for any
shares in First Calgary Petroleums Ltd.



First Calgary Petroleums Ltd. (TSX: FCP) ("First Calgary" or "the Company") is
pleased to advise that it has placed 20,014,850 Common Shares through Canaccord
Capital (Europe) Limited and Canaccord Capital Corporation and Haywood
Securities Inc. in Canada, at an issue price of #0.52 and C$1.25 per share for
gross proceeds of C$25,018,562 and was admitted to trading on AIM at 8.00 am
yesterday morning.

The Company holds interests in oil and natural gas properties in the Republic of
Algeria and the Yemen in blocks covering over 4,000 Sq Kms.

Net proceeds of the offering will be used for working capital purposes and for
exploration expenditures in the Republic of Algeria where the Company holds
interests in two blocks comprising over 2,200 Sq Kms and currently has the
drilling of two wells out for bid, with the intention of commencing operations
in October 2002.

UK solicitors to the Company are SJ Berwin and its Nominated Adviser is Nabarro
Wells & Co Limited.

For further information, contact:


                       Mr. Richard G. Anderson, President and CEO
                                   Ph: (403) 264-6697

                              first calgary petroleums ltd.
                                900, 520 - 5th Avenue S.W.
                                    Calgary, Alberta
                                        T2P 3R7

                                Phone: (403) 264-6697
                                Fax:   (403) 264-3955
                                Website: www.fcpl.ca


                   Mr. Ali Bhojani/Mr. Neil Johnson/Mr. Toby Hayward
                            Canaccord Capital (Europe) Ltd
                             Phone: +44 (0) 207 518 2777

                       Mr. Harry Sutherland/Mr. Jonathan Naess
                              Nabarro Wells & Co. Ltd
                             Phone: +44 (0) 207 710 7400


This press release is approved for issue in the United Kingdom solely for the
purposes of Section 21 of the Financial Services and Markets Act 2000 by Nabarro
Wells & Co Limited of Saddlers House, Gutter Lane, London EC2V 6HS.


                      This information is provided by RNS
            The company news service from the London Stock Exchange

END

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