/NOT FOR DISSEMINATION IN THE UNITED STATES OR OVER UNITED STATES WIRE
SERVICES/

CALGARY, Nov. 27 /CNW/ - Breaker Energy Ltd. (TSX:WAV) ("Breaker" or the "Company") is pleased to announce that it has completed the previously announced bought deal private placement of 823,600 Class A shares issued on a "flow-through" basis (the "Flow-Through Shares") at an issue price at $8.50 each for aggregate gross proceeds of $7,000,600 (the "Offering"). The hold period on these shares expires on March 28, 2009. The shares were issued through a syndicate of underwriters led by Wellington West Capital Markets Inc. and including FirstEnergy Capital Corp., Dundee Securities Corporation, BMO Capital Markets, CIBC World Markets, Scotia Capital Inc. and Tristone Capital Inc.

Gross proceeds from the sale of the Flow-Through Shares will be used to fund ongoing exploration activities eligible for Canadian Exploration Expenses which will be renounced in favour of the subscribers of the Flow-Through Shares effective on or before December 31, 2008.

Breaker will use a significant portion of the proceeds of the Offering for proprietary 3-D seismic acquisition at the Company's light oil exploration area of Girouxville, where the Company recently doubled its undeveloped acreage holdings. Funds will also be used to increase exploration drilling in the same area where the Company has experienced approximately 90 percent success drilling new light oil pools, most of which qualify for a one million dollar maximum royalty holiday. The balance of the proceeds from the Offering will be used to fund Breaker's ongoing exploration program.

Breaker Energy Ltd. is a junior oil and gas company focused on creating shareholder value by growing per share production and reserves through acquisitions and a focused exploration, development and exploitation plan.

Breaker trades on the TSX under the symbol WAV.

Breaker now has 41.0 million Class A Shares and 3.8 million Options outstanding.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities of Breaker within the United States. The securities of Breaker have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or any state securities laws. Accordingly, the shares may not be offered or sold in the United States or to U.S. persons (as such terms are defined in Regulation S under the 1933 Act) unless registered under 1933 Act and applicable state securities laws or an exemption from such registration is available.

Forward-looking Statements

This press release contains forward-looking statements.