2008-10-20-2008-10-11-2008-11-24

Acquired 65%-70% WI in 4,600 acres targeting Hunton, other formations in OK.

Petroflow Energy Ltd., Calgary, (Toronto Venture: PEF; Amex: PED) plans to enter a joint venture with privately held Oklahoma City-based Patron Energy LLC to mutually develop the Hunton and other formations in Oklahoma. This deal is outside of the seven Oklahoma counties in which Petroflow is presently involved with Enterra Energy Trust. Petroflow will acquire working interests varying between 65% and 70% in three new project areas initiated by Patron in exchange for US$1 million for the assets and related costs. Patron has leased mineral rights in approximately 4,600 net acres in one project area. Patron will have a right of first refusal to acquire any projects proposed by Petroflow's geologists until June 2009. Each party will have the option to participate in any additional projects generated by the geologists. If either party receives an offer to purchase its interest in a project covered by the joint venture, the other party shall have a right of first refusal to match the offer. The venture is expected to be in place by Oct. 17.