Spirit Exploration, Inc. Hires Auditors, Plans on Becoming a Fully Reporting Issuer

August 8, 2007, Machala, Ecuador: Spirit Exploration, Inc. (SPXP: Pink Sheets)

The company is very pleased to announce that it has retained Gruber & Company LLC, independent certified public accountant, headquartered in Lake St. Louis, Missouri. Gruber & Company audits over 40 public companies in the US and abroad. Peter Laipnieks, President of Spirit, stated that completing our financials and audit work is a very important milestone for the company as it desires to become a fully reporting issuer with the United States Securities and Exchange Commission as soon as possible.

“We are anxious to complete our audits and to move off of the pinks sheets exchange and on to a higher, more recognized exchange. Our press has shown significant results in our growth and we anticipate even more impressive news in the weeks to follow. Being fully audited will give the shareholders the confidence they need to support this company as it continues to grow.”

Spirit has also retained Cutler Law Group to help the company with its filing requirements. Cutler Law Group has substantial experience in all areas of SEC, stock exchange and state securities law. There experience includes preparation and filing of listing applications with NASDAQ, the New York Stock Exchange and the American Stock Exchange. There client base includes many public companies, broker dealers, underwriters, investment advisors, financial consultants. There business attorneys have also completed projects to comply with broker-dealer requirements under state and federal securities laws, as well as to properly qualify securities under various state “blue sky” laws. See www.cutlerlaw.com for further information

Further information is available on the company website: www.spirit-exploration.com

Forward-Looking Statements: Certain information and statements included in this release are intended to constitute “forward-looking statements” within the meaning of the Federal Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the company to be materially different from any future results, performance, or achievements expressed or implied in such forward-looking statements

Contact: Peter Laipnieks, President 1-877-611-7111