2009-01-28-2008-11-24-2008-11-24

JV for 65-70% to develop OK Hunton resource play in 4,600 net acres.

Petroflow Energy Ltd., Calgary, (TSX: PEF) and privately held Oklahoma City-based Patron Energy LLC have signed off on a previously announced joint-venture agreement to develop the Hunton resource play and other properties in Oklahoma. The $1-million deal gives Petroflow working interests between 65% and 70% in three new areas and leased mineral rights in approximately 4,600 net acres in one of the areas. Petroflow is also involved in seven Oklahoma counties with Enterra Energy Trust, Calgary (NYSE: ENT). Petroflow president and chief executive officer John Melton says, "We are all very excited and confident about this joint venture as it adds three more areas to our extension program. Because the JVA is unburdened by any carried interests, we will further improve our economics on the Hunton play. With our existing drilling experience of 61 wells, combined with these new opportunities and the additional geologic prospects offered by this venture, we have become a major player in the Hunton resource play."