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2009-0904 - New Listing - Yonge Street Capital Corp. (ECS)

October 2, 2009

The common shares of Yonge Street Capital Corp. have been approved for listing on CNSX. Yonge Street expects to complete shortly its previously announced acquisition of Endeavour Energy (Bengkulu) Pty Ltd. ("EEB"), a private Australian company exploring for oil and gas in Sumatra, Indonesia. In connection with the Transaction, Yonge Street applied to voluntarily delist its common shares from the NEX board of the TSXV and to list the shares of the post- Transaction company on the Canadian National Stock Exchange (CNSX). It is expected that Yonge Street will delist from NEX concurrent with the listing on CNSX. All actions to complete the Transaction have been completed in escrow and the Transaction will automatically complete and be effective upon the delisting from the NEX board.

In conjunction with the Transaction, Yonge Street is raising gross proceeds of approximately $2,000,000 in a concurrent private placement. Up to 5,720,000 common shares are being offered in the placement at a price of $0.35 per share. Yonge Street has entered into a Standby Purchase Agreement with Lainston Capital Pte. Ltd. ("Lainston"), a Singapore-based investment company, whereby Lainston has agreed to purchase or cause to be purchased all shares offered by Yonge Street that are not taken up by other subscribers. For providing this standby commitment, Lainston is to receive a fee equal to 8% of the total gross proceeds raised in the offering and be issued 1,500,000 transferable warrants, each warrant entitling the holder to purchase one common share for $0.65 per share for a period of 12 months from closing.

On completion of the Transaction, the Company will continue the business currently conducted by EEB, being an oil and gas company with current ongoing exploration in Indonesia. EEB owns a 100% working interest in the Bengkulu PSC ("Production Sharing Contract") in Sumatra, Indonesia which allows it the rights to explore and exploit the hydrocarbons within the PSC. The Bengkulu PSC covers 4,101.92.94 km2 (1,013,602 acres) and consists of both onshore and offshore portions. The Bengkulu PSC was awarded on October 5, 2005 and is for a period of 30 years.

Two prospects and one lead have been identified onshore as well as several more structures of interest offshore. Subject to additional funding (in addition to the $2.0 million private placement), the planned work program is to drill 3 onshore wells in early 2010 and to identify offshore well locations to drill in 2011.

The expected product from successful wells is light crude oil, although gas and NGLs are also possible.

An independent technical report in compliance with Canadian National Instrument 51- 101 has been prepared on the Bengkulu PSC by Chapman Petroleum Engineering Ltd. of Calgary, AB Canada in which prospective resources are evaluated. A copy of the report will be filed and publicly on SEDAR and the CNSX website in conjunction with the completion of the Transaction.

No reserves have been assigned to EEB's Bengkulu PSC and there is no guarantee that reserves will be identified thereon.

Listing and disclosure documents for Yonge Street Capital Corp will be available in the CNSX Listings Disclosure Hall

Trading Date: Monday, October 5, 2009
Symbol: ECS
CUSIP:986 060 10 1

Applications are being accepted for Market Makers for "ECS".

If you have any questions or require further information please contact Radhika at (416) 572-2000 X 2435 or E-mail:

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