Blue Parrot Energy Inc.

Blue Parrot Energy Inc.

May 07, 2007 08:00 ET

Blue Parrot Energy Engages Salman Partners to Explore Strategic Alternatives

CALGARY, ALBERTA--(CCNMatthews - May 7, 2007) - Blue Parrot Energy Inc. (the "Company") (TSX VENTURE:BPA) announced today that it has initiated a review process and has engaged Salman Partners Inc. as financial advisor to the Company.

The intent is to explore a range of strategic alternatives that have the potential to enhance value for the shareholders of the Company. Potential strategic alternatives could include a business combination with another company, a financing or some variation thereof.

The Company has formed an independent committee of the board of directors chaired by Gord Harris. The mandate of the committee is to work with and assist Salman Partners Inc. in exploring strategic alternatives.

This process is not in response to any proposed transaction, nor is there any assurance that it will lead to a transaction.

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 Company 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 Company does not undertake any obligation to publicly update or revise any forward-looking statements.

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

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