Blue Parrot Energy Inc.

Blue Parrot Energy Inc.

October 18, 2005 08:00 ET

Blue Parrot Completes Drilling of Two New Exploration Wells

CALGARY, ALBERTA--(CCNMatthews - Oct. 18, 2005) - Blue Parrot Energy Inc. ("Blue Parrot") (TSX VENTURE:BPA) (BERLIN:BPX) announces that it has completed drilling two new exploration wells in central Alberta. Both exploration wells have been cased and completion programs are underway simultaneously. Each of the wells has multiple target zones and production results are expected to be announced in the next few weeks.

The Company's Bonnie Glen Cardium Unit continues to produce in the 155 - 160 boe/d with the expected addition of 40 - 50 boe/d coming from the completed tie-in of the southern field pipeline which is under construction.

A farm-out on the Company's Cadotte Lake property with a private company is expected to be drilled prior to year-end.

A new Bonnie Glen Cardium well at its 2-34 location is also expected to be drilled by year-end.

Bill Elligson, Company President is quoted as saying "Blue Parrot is currently in an unprecedented expansion mode and with continued strong prices in the industry should provide shareholders with increased value".

Blue Parrot is an oil and natural gas exploration, development and production company based in Calgary, Alberta.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information