Alberta Clipper Energy Inc.

Alberta Clipper Energy Inc.

July 12, 2005 09:13 ET

Alberta Clipper Energy Inc. Announces its Management Team, 2005 Year-End Targets and Trading Date

CALGARY, ALBERTA--(CCNMatthews - July 12, 2005) -

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Kel Johnston, President and CEO of newly incorporated Alberta Clipper Energy Inc. (TSX:ACN) is pleased to introduce the Alberta Clipper Management Team which consists of David Allen Vice-President Exploration, Bruce Hall Vice-President Engineering, Curt Ziemer Vice-President Finance and CFO, and Randy Berg, Vice-President Land. The Alberta Clipper executive team provides the Company with over 100 years of collective experience in oil and gas exploration, operations and financial analysis. In addition, Alberta Clipper has in place an eight member technical team that will allow for aggressive development of its 181,000 net acre land base.

Alberta Clipper's 2005 Budget calls for the drilling of 26 wells (15 net) on a total capital budget of $20 million. Production is targeted to nearly double from current levels to reach 1600 barrels of oil equivalent per day exit 2005 (approximately 60% natural gas, 40% light crude oil). Drilling activities will be focused in Alberta Clipper's three core areas of Northeast British Columbia, Sylvan Lake and Central Alberta, where the Company holds over 20 townships of 3-D seismic data, has ownership and access to key infrastructure, and has currently identified an inventory of over 60 drilling locations.

Alberta Clipper Energy is a new Canadian junior oil and gas company engaged in the exploration, development, and production of natural gas and light oil reserves in the provinces of Alberta and British Columbia. Alberta Clipper is expected to begin trading on or about July 12, 2005, under the trading symbol ACN.

(Note: BOE means barrel of oil equivalent on the basis of 1 BOE to 6,000 cubic feet of natural gas. BOE's may be misleading, particularly if used in isolation. A BOE conversion ratio of 1 BOE for 6,000 cubic feet of natural gas is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.)


This press release may contain forward-looking statements including expectations of future production, cash flow and earnings. These statements are based on current expectations that involve a number of risks and uncertainties, which could cause actual results to differ from those anticipated. These risks include, but are not limited to: the risks associated with the oil and gas industry (e.g., operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses, and health, safety and environmental risks), commodity price, price and exchange rate fluctuation and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures. Additional information on these and other factors that could affect Alberta Clipper's operations or financial results are included in Alberta Clipper Energy's reports on file with Canadian securities regulatory authorities.

The Toronto Stock Exchange has neither approved nor disapproved the information contained herein.

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