2009-05-21-2009-05-12

To acquire 7,430 net acres in Ferrier area, 25% WI in gathering & compression facility, gaining 550 BO/d, 1 million BOE 2P.

Angle Energy Inc., Calgary, (Toronto: NGL) plans to acquire assets in the Ferrier area in Alberta from an undisclosed seller for C$22.5 million in cash. The acquisition includes 7,430 net acres of land (3,350 net undeveloped)and a 25% working interest in a gas-gathering pipeline and a compression facility. The properties feature seven gas wells (53% average working interest) and seven oil wells (75% average working interest). Production is approximately 550 barrels of oil per day. Proved and probable reserves as of April 1 were 1 million barrels of oil equivalent. The assets are near Angle's core property, where the company currently has production of 2,600 barrels equivalent per day.