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

Proved: 2.7 MMBOE

Compton Petroleum Corp., Calgary, (NYSE: CMZ) has acquired approximately 99.68% of the outstanding shares of Stylus Energy Inc., Calgary, (Toronto: STY) for C$71.7 million. Compton has acquired 26.6 million shares at C$2.70 per Stylus share and will undertake a compulsory acquisition of the remaining shares. The total deal value will be C$91 million in cash and assumed debt. The deal values the production at C$40,279 per flowing barrel of oil equivalent, proved reserves at C$24.49 per barrel equivalent and proved and probable reserves at C$16.24 per barrel equivalent, according to Compton. Stylus has high working interest in 131,706 net acres on undeveloped land in Alberta, with most production in the Vulcan area. Production is approximately 2,000 barrels equivalent per day. Proved reserves are 2.7 million barrels equivalent and proved and probable reserves are 4 million barrels equivalent. The majority of assets are operated. Compton president and chief executive Ernie Sapieha says, "This transaction fits with our strategy of continued growth in our core areas and our focus on natural gas resource plays. The acquisition of Stylus creates significant operational synergies at Vulcan, Alberta, and adds an attractive portfolio of additional drilling prospects, which will enhance our ability to execute our business plan." Stylus president and CEO Paul Evans says, "Compton, with its large land-holdings and operational expertise, is the logical company for us to transact with." FirstEnergy Capital Corp. is financial advisor to Compton and Peters & Co. Ltd. is financial advisor to Stylus.