February 3, 2009

The common shares of Onco Petroleum Inc. ("OPI") are currently suspended from trading on CNSX for failure to comply with CNSX requirements (Bulletin 2008-1009). Pursuant to CNSX Policy 3-4.1, Onco was subject to automatic delisting February 3, following the 90 day extension.

Onco has requested and been granted a further 90 day extension to May 4, 2009. If the Company has not been reinstated for trading it will be automatically delisted pursuant to CNSX Policy.

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