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FOR IMMEDIATE RELEASE


May 23, 2007

Vancouver, British Columbia – Cobra Venture Corporation ("Cobra") (TSX Venture Exchange: CBV)

Cobra is pleased to announce the engagement of Quinton Investment Services (547853 B.C. Ltd.), of Kamloops, British Columbia, as Cobra’s Investor Relations Consultant.

Cobra’s objective is to increase awareness of Cobra in the investment community. Quinton Investment Services will bear the responsibility to coordinate Cobra’s public and investor relations activities and to communicate specifically with the retail audience. Quinton Investment Services will also provide corporate information to its large following of investors and will also communicate the investment merits of Cobra through its relationships with newsletter editors, brokers, media, and analysts.

Quinton Investment Services (547853 B.C. Ltd.), an investor relations and small-cap investor research source, is a limited company. The company is owned and operated by Doren Quinton. Cobra and 547853 B.C. Ltd. operate at arms length and are independent of one another.

The appointment covers an initial period of six months from May 15 - November 14, 2007 at a cost of $2500 per month, which may be renewed for a further period to be mutually agreed upon. In addition, 547853 B.C. Ltd. has also been granted an option to purchase 100,000 common shares of Cobra exercisable at $0.23 per share over a period of 2 years from the date of grant. This option will vest on a 25% basis every three months from the effective date of the agreement.

The appointment of Quinton Investment Services and the granting of the aforesaid stock option is subject to regulatory body approval.

547853 B.C. Ltd. and its principal shareholders do not currently own or control, directly or indirectly, any common shares of Cobra. 547853 B.C. Ltd. and its shareholders may purchase common shares in Cobra from time to time for investment purposes.

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

Doren Quinton
QIS Capital
(250) 376-8989
www.qiscapital.com

THE TSX VENTURE EXCHANGE INC. DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE

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