Mystique Energy Inc.

CALGARY, March 17 /CNW/ - Burkhard Franz, Chairman of Mystique Energy
Inc. (TSXV - MYS), announces that the non-brokered private placement
previously announced on March 15th, 2004 has been oversubscribed and the
maximum has been increased from $500,000 to $600,000 and 2,000,000 units
("Units') to 2,400,000 units ("Units"). All other terms remain the same. The
private placement will be taken up by directors, close friends and business
associates of Mystique. There are no brokerage or commission fees attached to
the financing. 
Based in Calgary, Mystique Energy Inc. is involved in the exploration and
exploitation of petroleum reserves in Western Canada. 
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release. This news release
may contain forward-looking information. Actual future results may differ
materially from those contemplated. The risks, uncertainties, and other
factors that could influence actual results are described in documents filed
with regulatory authorities. 
-0-                           03/18/2004 
/For further information: on Mystique, please contact - Savi Franz, 
Director, Tel: (403) 261-3634, Fax: (403) 265-3348,  
savi(at)mystiqueenergy.ca; Mr. Victor Luhowy, Director, Tel: (403) 261-3632
Fax: (403) 265-3348, vic(at)mystiqueenergy.ca/ 
(MYS.) 
CO:  Mystique Energy, Inc.
ST:  Alberta
IN:  OIL 
SU:  PVT  
-30- 
-0- Mar/18/2004 14:08 GMT