2009-08-10-2008-08-01

To acquire assets in Cecil, Zama, Thornbury, Peace River Arch region, gaining 3,700 BOE/d.

Compton Petroleum Corp., Calgary, (Toronto: CMT; NYSE: CMZ) has agreed to sell noncore assets in Cecil, Zama, Thornbury, and the Peace River Arch region of Alberta in four deals to undisclosed buyers for a total of C$218 million. The assets combined represent production of approximately 3,700 barrels of oil equivalent per day comprised of 14.3 million cubic feet of gas and 1,300 barrels per day of natural gas liquids and crude oil. The Cecil property sale is the largest of the transactions. Closing is expected in mid-summer. Compton will use the proceeds to pay debt. Going forward Compton will focus on pure-play unconventional gas in central Alberta and the Rock Creek/Gething plays at Niton and Edson, and in southern Alberta including the Basal Quartz play at Hooker, the Plains Belly River play, and the thrusted Belly River formation in the foothills.