Arsenal Energy Inc.

Arsenal Energy Inc. has retained Sayer Energy Advisors to sell noncore properties in Saskatchewan and Alberta.

The Saskatchewan properties includes include producing assets in the Lloydminster area, including 100% working interest in Dee Valley property, 50% working interest at Manito Lake and 24% to 40% working interest at Lashburn. In addition to producing assets, Arsenal holds a 100% working interest in a nonproducing property at Freemont, a 50% working interest in a nonproducing property at Epping and a 50% working interest in a nonproducing property at Rush Lake.

Total net production net to Arsenal from the Lloydminster area properties has averaged approximately 97 barrels of oil per day.

In Alberta, Arsenal has 50% operated working interest in two wells at Nevis producing from the Mannville formation and and from its 37.5%-50% nonoperated working interest in five Belly River coalbed methane gas wells.

Arsenal is currently producing approximately 6 barrels of oil and gas liquids per day and 42,000 cubic feet of gas per day for a total 31 barrels of oil equivalent per day.

Total proved and probable reserves for both Alberta and Saskatchewan are 220,000 barrels equivalent.

The bid due date is April 12. Contact Alan Tambosso, 403-266-6133, atambosso@sayeradvisors.com.