KRS Kairos Capital Corporation (delisted)

Kroes Energy Inc ("Kroes"). (TSX VENTURE:KRS) today announced its financial and
operating results on a continuing operations basis for the three months ended
March 31, 2008. Kroes recorded cash flow of $153,165, a significant improvement
from negative cash flow of $16,754 for the same period in 2007. A net loss of
$86,627 was incurred in the quarter compared to a loss of $125,537 in the prior
year. The improvement in financial results reflects the rapid growth of
production and revenue from the shallow gas program in central Alberta during
2007.


Production volumes for the quarter averaged 96 barrels of oil equivalent per day
(boe/d) compared with 37 boe/d in the first quarter of 2007, reflecting
production from four wells completed during the last half of 2007 and one well
put on stream in January of 2008. The Company expects to participate in drilling
three shallow gas wells in June of 2008 and two in the fourth quarter. In
addition, three wells that are presently shut in are expected to be connected in
the fourth quarter following installation of compression and gathering lines.
Should all of this activity be successfully completed, the number of wells the
Company has on production will double.


With respect to the previously reported proposal to merge with Vecta Energy
Inc., a takeover bid circular was mailed to the Vecta shareholders on May 29,
2008. The circular outlines the terms of the proposed takeover and, if
successful, will result in a doubling of Kroes assets and share capital. The
offer to the Vecta shareholders must remain open for 35 days from the date of
mailing. If the offer is accepted the closing will occur early in July, 2008.
The Directors of Vecta have unanimously recommended that the shareholders accept
the Kroes offer. The Directors of both companies believe that Kroes' growing
cash flow from its low risk shallow gas exploration program combined with the
higher risk but higher reward outer foothills exploration potential of Vecta
will result in a strengthened corporation with the opportunity for more rapid
growth.


Vecta recently participated with a 13.125% interest in a well drilled in the
Brewster area of west central Alberta at 15-1 1-43-13W5. The well is a direct
offset to a competitor's well that is presently producing more than 3 mmcf/day.
Logs from the 15-11 well indicate two zones of interest, one with 3 meters of
pay and one with 7 meters of pay. The well will be tested and completed as soon
as spring road bans are lifted. Vecta holds the same interest in three
offsetting sections of land where the operator has identified three potential
drilling locations. Also in the Brewster area, Vecta has a 47.5% interest in a
suspended well that was drilled in 2006 at 12-15-42-13W5. With higher gas prices
and the extension of industry gathering infrastructure, it is expected that the
well will be tested and completed later in 2008. Another suspended well at
7-16-43-13W5 (Vecta 25% interest) appears to have potential in an upper Belly
River zone and, with improved prices, is also a candidate for completion in
2008.


Vecta has 2,748 net acres of prospective land in the Brewster area where
industry exploration in 2008 is expected to be very active. It also has 1,104
net acres at Gilby where extensive seismic coverage indicates considerable
promise.


BOE's may be misleading, particularly if used in isolation. A BOE conversion
ratio of 6MCF:1Bbl is based on an energy equivalency conversion method primarily
applicable at the burner tip and does not represent a value equivalency at the
wellhead.


FORWARD-LOOKING STATEMENTS

This disclosure contains certain forward-looking estimates that involve
substantial known and unknown risks and uncertainties, certain of which are
beyond Kroes' control, including: the impact of general economic conditions in
the areas in which the Company operates, industry conditions, changes in laws
and regulations including the adoption of new environmental laws and regulations
and changes in how they are interpreted and enforced, increased competition, the
lack of availability of qualified personnel or management, fluctuations in
commodity prices, foreign exchange or interest rates, stock market volatility
and obtaining required approvals of regulatory authorities. In addition, there
are risks and uncertainties associated with oil and gas operations; therefore,
Kroes' actual results, performance or achievement could differ materially from
those expressed in, or implied by, these forward-looking estimates and,
accordingly, no assurances can be given that any of the events anticipated by
the forward-looking estimates will transpire or occur, or if any of them do so,
what benefits, including the amounts of proceeds, that Kroes will derive from
that.


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