Grand Banks Energy Corp.

Grand Banks Energy Corp., Calgary, (Toronto Venture: GBE) is seeking strategic alternatives including a sale or merger. Grand Banks holds deep gas assets in the Grand Prairie and Edmonton areas of Alberta and Williston Basin light oil production in the Kingsford area of Saskatchewan and Sinclair area of Manitoba. Current production is more than 1,500 barrels of oil equivalent per day (55% oil). Proved reserves are approximately 2.95 million barrels equivalent with proved plus probable reserves of 4.93 million barrels. Grand Banks holds some 25,000 acres with more than 55 drilling locations. Contact E.C. (Ted) McFeely, 403-262- 8666.