COBRA VENTURE CORPORATION FILES RESERVE INFORMATION RESULTS

March 30, 2007

Calgary, Alberta, Canada, Cobra Venture Corporation (Cobra) (TSX Venture Exchange: CBV)

Cobra Venture Corporation (the "Corporation") announces that the Corporation has filed all required information and reports relating to reserves data and other oil and gas information for the financial year ended November 30, 2006 as required pursuant to National Instrument 51-101. Copies of these documents may be obtained electronically from the SEDAR system at www.sedar.com.

Cobra Venture Corporation is an emerging energy corporation focused on the acquisition and development of strategic oil and natural gas reserves in the Western Canada. Common shares of the corporation trade on the TSX Venture Exchange under the symbol CBV.

FOR FURTHER INFORMATION PLEASE CONTACT:

Cobra Venture Corporation
Daniel B. Evans
President and CEO
(604) 922-2030
Canadian Toll Free (888) 888-9122
US Toll Free (888) 888-9123

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