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BORDER PETROLEUM INC. ANNOUNCES ACQUISITION

CALGARY, ALBERTA – September 17, 2008 – Border Petroleum Inc. (formerly, Moneta Resources Inc.) ("Border" or the "Corporation") (NEX:BOP.H) today announced a proposed acquisition of certain petroleum and natural gas properties.

Border has entered into an arm's length offer to purchase with Royal Quest Resources Ltd. ("Royal Quest"), a private company, accepted on August 11, 2008 (the "Letter Agreement"). Pursuant to the Letter Agreement, Border has agreed to acquire (the "Acquisition") certain producing petroleum and natural gas assets located in Cardiff, Cherhill, Lloydminster and Norris, Alberta (the "Royal Quest Properties"), for a cash purchase price of $1,300,000, subject to adjustment.

The Acquisition is subject to the policies of the NEX board of TSX Venture Exchange Inc. ("TSX Venture").

About the Royal Quest Properties

The following is a description of the assets being acquired by Border Petroleum, from Royal Quest.

The Norris property of Royal Quest is located in Township 53, Range 18 West of the 4th Meridian, Northwest of Edmonton, Alberta with various operated working interests. The property consists of two operated producing oil wells, five infill oil drilling locations, and 1,040 net acres of land.

The Cherhill property of Royal Quest is located in Township 56, Range 4 West of the 4th Meridian, North of Edmonton, Alberta and consists of a 37.5% operated working interest. The property consists of one producing gas well and 640 net acres of land.

The Cardiff property of Royal Quest is located in Township 55, Range 1 West of the 4th Meridian, East of Edmonton, Alberta and consists of a 100% working interest. The property consists of one producing oil well and 40 acres of land.

The Lloyd property of Royal Quest is located in Township 49, Range 1 West of the 4th Meridian, East of Edmonton, Alberta and consists of a 90% operated working interest. The property consists of two operated producing oil wells, two infill oil drilling locations, and 120 net acres of land.

DeGolyer Report Regarding the Royal Quest Properties

Border engaged DeGolyer and MacNaughton Canada Limited ("DeGolyer"), an international independent engineering firm, to prepare a National Instrument 51-101 compliant report as at August 1, 2008 (the "DeGolyer Report"). The reserve estimations set forth in the DeGolyer Report and summarized below were prepared in accordance with the Canadian Oil and Gas Evaluation Handbook and National Instrument 51-101. The estimated Forecast Price Case gross and net proved and probable, as at August 1, 2008, of the Royal Quest Properties are summarized as follows, expressed in thousands of barrels ("Mbbl") for oil and NGL and millions of cubic feet ("MMcf") for sales gas:

Please find the results under the following link: http://www.irw-press.com/dokumente/Boarder_Table1_170908.pdf

Based on the Forecast Price Case, estimated future net revenue and net present value of future net revenue before and after income tax attributable to Royal Quest's net interests in the proved developed producing, total proved developed, total proved and proved-plus-probable reserves are summarized as follows, expressed in thousands of Canadian dollars (M$):

Please find the results under the following link: http://www.irw-press.com/dokumente/Boarder_Table2_170908.pdf

Please be advised that net present values of future net revenue do not represent fair market value.

About the Acquisition

The completion of the Acquisition is subject to the approval of TSX Venture and all other necessary regulatory approval. The completion of the Acquisition is also subject to additional conditions precedent, including satisfactory completion of a due diligence review in respect of the Royal Quest Properties by Border, board of directors approval of the Corporation and Royal Quest, the entering into of a formal conveyance agreement, as well as certain other usual conditions.

The Acquisition will be an arm's length transaction as the directors, officers and insiders of Border are not directors, officers or 10% shareholders of Royal Quest.

In connection with the Acquisition, Border has also agreed to pay a finder's fee to Elefterios Aligizakis of $97,500, which will be paid by the issuance of 487,500 common shares of Border with a deemed value of $0.20 per share at the closing of the Acquisition, subject to regulatory approval.

Trading of the Common Shares will not resume until TSX Venture has reviewed the DeGolyer Report regarding the Royal Quest Properties and all other documents required by TSX Venture have been filed. Border will issue a further news release when TSX Venture has received the necessary documentation and trading of the Common Shares is to resume.

For further information please contact:

Tyler D. Cran
Director of Moneta
Tel.: (403) 538-8441

or

Ryan L. Stevenson
President of Decker
Tel.: 403.410.6015

As indicated above, completion of the Acquisition is subject to a number of conditions, including but not limited to, TSX Venture acceptance and shareholder approval. The Acquisition cannot close until the required shareholder approval is obtained. There can be no assurance that the Acquisition will be completed as proposed or at all. Investors are cautioned that, except as disclosed in the Information Circular of the Corporation to be prepared in connection with the Acquisition, any information released or received with respect to the Acquisition may not be accurate or complete and should not be relied upon. Trading in the securities of the Corporation should be considered highly speculative. The securities of Border being offered have not been, nor will be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.


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