2009-08-11-2007-07-01-2007-09-01

Production: 1200 BOE/d

Jed Oil Inc., Didsbury, Alberta, (Amex: JDO) has closed its acquisition of Caribou Resources Corp., Calgary, (Toronto Venture: CBU) for a total US$52.6 million in cash and stock. Caribou was in bankruptcy protection. Jed paid US$26.7 million in cash to secured creditors; US$345,500 in cash and US$17.7 million in stock to unsecured creditors; and US$7.9 million in stock to Caribou shareholders on the basis of one Jed share per 10 Caribou shares. Caribou's primary assets are gas in northern Alberta and oil and gas in central Alberta. Production is approximately 1,200 barrels of oil equivalent per day. Proved reserves are 1.6 million barrels equivalent and probable reserves are 2 million barrels, for a total 3.6 million barrels equivalent. Jed now has combined production of approximately 1,500 barrels equivalent per day and estimates year-end production at approximately 2,900 barrels equivalent per day. Jed president James Rundell says, "With the completion of the Caribou acquisition, we have acquired the additional assets and resources we need to proceed with our business plan for 2007 and 2008 in accordance with the guidance we provided on June 19."