Blue Parrot Energy Inc.
TSX VENTURE : BPA

Blue Parrot Energy Inc.

July 18, 2007 18:25 ET

Blue Parrot Announces Successful Alberta Well

CALGARY, ALBERTA--(Marketwire - July 18, 2007) - Blue Parrot Energy Inc. (TSX VENTURE:BPA) today announced a successful re-entry of an existing wellbore in south-central Alberta.

The well flow-tested in excess of 1.5 mmcf/d with a stabilized pressure of 4,200 Kpa. The Company plans to bring on the well and build production to 1.0 mmcf/d. Tie-in will occur as soon as possible and payout is expected to occur within two to three months. Blue Parrot has a 100% before payout and 50% interest in this well.

Blue Parrot had previously purchased these lands and there is potential for further development in this area.

Forward Looking Statements:

Certain statements contained herein constitute forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe", and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. The Corporation believes the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this report should not be unduly relied upon. These statements speak only as of the date of this presentation. The Corporation does not undertake any obligation to publicly update or revise any forward-looking statements.

Per barrel of oil equivalent ("BOE") amounts may be misleading, particularly if used in isolation. A BOE conversion ratio has been calculated using a conversion of 6000 cubic feet of natural gas to 1 barrel and is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

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

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