Pearl Exploration and Production Ltd.

Pearl Exploration and Production Ltd. has retained Canaccord Enermarket Ltd. to sell certain nonstrategic assets in southern Alberta. The package includes operated and nonoperated properties primarily in the Long Coulee, Little Bow and Badger areas. Production is 1,018 barrels of oil equivalent per day (86% gas) with an additional 340 barrels per day expected in the second quarter. Proved and probable reserves are approximately 3.3 million barrels equivalent (76% proved). For more information, contact Martin Peters, 403-537-9829.