Blue Parrot Energy Inc.
TSX VENTURE : BPA
BERLIN : BPX

Blue Parrot Energy Inc.

September 29, 2005 09:00 ET

Blue Parrot Announces Discovery in Central Alberta

CALGARY, ALBERTA--(CCNMatthews - Sept. 29, 2005) - Blue Parrot Energy Inc. ("Blue Parrot") (TSX VENTURE:BPA) (BERLIN:BPX) has completed a successful well in central Alberta with a private partner. The well was completed in the Basal Quartz zone and tested at 1.6 mmcf/d of gas and 144 bbl/d of oil, equating to approximately 410 boe/d. Blue Parrot's interest in the well is 25% before payout and 12.5% after payout, with a 25% working interest in the area of mutual interest. The well will be brought onto production as soon as possible.

Additionally, the Company's 15-12 well in the Antelope area has tested at 120 mcf/d in the Colony zone. It also will be brought onto production as soon as possible.

The Company has a 40% working interest in a new development program at Antelope comprised of 7 wells targeting various zones based on 3D seismic. The program has a proposed capital budget of $4.25 million and forecasted results between 550 and 650 boe/d.

The Company has received approval from the EUB for its Bonnie Glen pipeline and construction is expected to be completed by October 15, adding production between 40 and 50 boe/d.

A new well is being spudded today at David Lake in central Alberta with a Leduc primary target. Blue Parrot is the operator of the well and the Company has a 50% working interest in the property. Drilling is expected to be completed around October 7.

A follow-up well near Sunken Lake with a primary target of the Leduc zone will commence following the rig release at David Lake. Blue Parrot will operate this well and has a 30% farm-in interest before payout and 18% after payout. This well is expected to be completed by mid-October.

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

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