Brompton Financial Limited Announces Participation In Rights Offering By Welton Energy Corporation.

TORONTO -- Pursuant to a prospectus dated January 17, 2006, Welton Energy Corporation ("Welton") issued to all of its shareholders one right for each share held to acquire 8% Convertible Debentures  ("Debentures"). For each 3,667 rights, a shareholder was entitled to acquire one Debenture in the principal amount of $1,000 at a price of $1,000. The total amount of Debentures issuable was $10,500,000. The Debentures are convertible into common shares at a conversion price of $1.55 per common share.

Peter A. Braaten, Chairman of Welton, was issued, directly or indirectly, 6,310,377 rights (including 5,449,951 rights received by Brompton Financial Limited ("BFL"), a corporation controlled by Mr. Braaten). Raymond R. Pether, Chief Executive Officer and a director of Welton, was issued, directly or indirectly, 582,929 rights. Following these issuances, Mr. Braaten owned 16.3 % of the rights and Mr. Pether owned 1.5 % of the rights. In connection with the rights offering, Messrs. Braaten and Pether undertook to exercise all rights which they received. In addition, BFL provided a standby commitment  to Welton to purchase any Debentures not taken up by other shareholders.

On February 15, 2006, BFL purchased 75,000 rights on the Toronto Stock Exchange (the "TSX") and on February 16, 2006, BFL purchased 925,000 rights on the TSX. Following these purchases, Mr. Braaten owned 18.9 % of the rights.

On February 24, 2006, Mr. Braaten, Mr. Pether and BFL exercised all of their rights and Mr. Pether and BFL exercised additional subscription privileges. As a result Mr. Braaten acquired $3,483,000 principal amount of Debentures at a price of $3,483,000, (including $250,000 of Debentures acquired by BFL under its standby commitment), representing 33 % of the Debentures issued. Mr. Pether acquired $181,000 principal amount of Debentures, representing 1.7 % of the Debentures issued.

After the issue of these Debentures Mr. Braaten owns, directly or indirectly, 6,310,377 common shares of Welton and Debentures convertible into an additional 2,246,535 common shares of Welton (18.8 % of the common shares outstanding assuming conversion of all Debentures). Mr. Pether owns, directly or indirectly, 582,929 common shares of Welton and Debentures convertible into an additional 116,745 common shares (1.5 % of the common shares outstanding assuming conversion of all Debentures) and vested options to acquire 183,336 common shares.

These acquisitions were made by Messrs. Braaten & Pether for investment purposes and, in the future, each of them may acquire or dispose of Debentures or common shares from time to time. The issuance of this news release is not an admission that Mr. Braaten and Mr. Pether are joint actors.