Desmarais Energy Corporation

March 04, 2010 16:23 ET

Desmarais Completes Acquisition From PrivateCo

CALGARY, ALBERTA--(Marketwire - March 4, 2010) - Desmarais Energy Corporation (TSX VENTURE:DES) (the "Corporation" or "Desmarais") is pleased to announce that it has completed the purchase of an approximate 30% operated working interest in 11,500 acres of undeveloped lands (3,580 net acres) at Barrhead in west central Alberta, from a private arms-length company. Included with the acquisition is an inventory of ten (10) suspended gas wells (2.35 net), eight of which are fully equipped (1.95 net). Desmarais expects that several of the new wells will be re-activated shortly. Involved in the acquisition was an additional interest in more than 12 kms of pipelines that allows the Corporation to explore several new gas markets.

These assets are a compliment to Desmarais' current Barrhead area lands (8,960 net acres undeveloped) and pipelines (13.1 net kms). Desmarais now controls a sizeable contiguous block of nearly 40 sections of undeveloped lands with infrastructure in the Barrhead and Greencourt areas. Desmarais also owns 2-D and proprietary 3-D seismic over a large portion of these lands.

ADVISORY: This press release contains certain forward-looking information and statements within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. In particular, but without limiting the forgoing, this press release contains statements concerning the anticipated re-activation of certain gas wells in Barrhead, Alberta. Although Desmarais believes that the expectations reflected in these forward looking statements are reasonable, undue reliance should not be placed on them because Desmarais can give no assurance that they will prove to be correct. Since forward looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. The re-activation of the wells could be delayed if Desmarais is not able to obtain the necessary approvals on the timelines it has planned. Accordingly, there is a risk that reactivation of the wells will not be completed within the anticipated time or at all. The forward looking statements contained in this press release are made as of the date hereof and Desmarais undertakes no obligations to update publicly or revise any forward looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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