Accrete Energy Inc.
TSX : GZ

Accrete Energy Inc.

March 20, 2007 18:58 ET

Accrete Energy Inc. Files Normal Course Issuer Bid

CALGARY, ALBERTA--(CCNMatthews - March 20, 2007) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Accrete Energy Inc. (TSX:GZ) ("Accrete" or the "Corporation") announces that the Toronto Stock Exchange (the "TSX") has approved the Corporation's normal course issuer bid. The maximum number of common shares of the Corporation ("Common Shares") which may be acquired by way of the issuer bid is 1,000,000, representing approximately 7.5% of the outstanding Common Shares in the public float. As at March 13, 2007 there were 13,295,438 outstanding Common Shares in the public float and 16,497,902 Common Shares issued and outstanding. Accrete intends to commence the bid on March 23, 2007 and terminate the bid on March 22, 2008.

Accrete's Board of Directors believes that the purchase of Common Shares pursuant to the normal course issuer bid is in the best interests of Accrete and its shareholders as the Common Shares may become available for purchase at prices which make them an appropriate use of Accrete's funds. All shares purchased under the issuer bid will be cancelled and returned to treasury. Accrete intends to acquire Common Shares from time to time in amounts and prices which its management believes are favourable and consistent with prudent economic and financial considerations.

Any purchases made by Accrete under the bid will be made through the facilities of and in accordance with the rules of the TSX.

Accrete is a junior oil and gas company focused on the acquisition, exploration, exploitation and development of oil and natural gas in western Canada that trades under the symbol "GZ" on the Toronto Stock Exchange.

The Shares issued have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States, or to a U.S. Person, absent registration or an applicable exemption therefrom.

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