GLC Gallic Energy Ltd.

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES 


Gallic Energy Ltd. (the "Corporation") (TSX VENTURE:GLC) is pleased to announce
that it has completed its previously announced $23,000,000 bought deal offering
(the "Offering"), with a syndicate of underwriters co-led by Macquarie Capital
Markets Canada Ltd. and Canaccord Genuity Corp., and including Raymond James
Ltd., Paradigm Capital Inc. and Fraser Mackenzie Limited (collectively, the
"Underwriters"). Today the Corporation issued a total of 57,500,000 units (the
"Units") at a price of $0.40 per Unit for total gross proceeds of $23,000,000.
Each Unit consists of one common share ("Common Share") and one half common
share purchase warrant ("Warrant") of the Corporation. Each whole Warrant
entitles the holder to acquire one Common Share at a price of $0.60 until April
13, 2013. The securities issued pursuant to the Offering are subject to a
statutory hold period of four months plus one day from the date of issue.


Net proceeds of the Offering will be used to fund the Corporation's 2011
exploration and development programs and for general corporate purposes.


Readers' Advisory

This press release shall not constitute an offer to sell or the solicitation of
an offer to buy any securities, nor shall there be any sale of securities in any
state in the United States in which such offer, solicitation or sale would be
unlawful. The securities referred to herein have not been and will not be
registered under the United States Securities Act of 1933, as amended, and may
not be offered or sold in the United States absent registration or an applicable
exemption from registration requirements. This press release may contain
statements within the meaning of safe harbour provisions as defined under United
States Securities Laws and Regulations. The above statements are based on the
current expectations and beliefs of the Corporation's management and are subject
to a number of risks and uncertainties that may cause the actual results to
differ materially from those described above. 


Forward Looking Information

This news release contains certain "forward-looking information" within the
meaning of such statements under applicable securities law including statements
relating to the Offering. 


Forward-looking information is frequently characterized by words such as "plan",
"expect", "project", "intend", "believe", "anticipate", "estimate", "may",
"will", "potential", "proposed" and other similar words, or statements that
certain events or conditions "may" or "will" occur. These statements are only
predictions. Forward-looking information is based on the opinions and estimates
of management at the date the statements are made, and are subject to a variety
of risks and uncertainties and other factors that could cause actual events or
results to differ materially from those projected in the forward-looking
statements. Actual timelines associated may vary from those anticipated in this
news release and such variations may be material. Industry related risks could
include, but are not limited to, operational risks in exploration, development
and production, delays or changes in plans, risks associated to the uncertainty
of reserve estimates, health and safety risks and the uncertainty of estimates
and projections of production, costs and expenses. The Corporation undertakes no
obligation to update forward-looking statements if circumstances or management's
estimates or opinions should change, unless required by law. The reader is
cautioned not to place undue reliance on this forward-looking information.

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