Blue Parrot Energy Inc.
TSX VENTURE : BPA

Blue Parrot Energy Inc.

October 11, 2006 08:00 ET

Blue Parrot Farms Out Washington Lands

CALGARY, ALBERTA--(CCNMatthews - Oct. 11, 2006) - Blue Parrot Energy Inc. (TSX VENTURE:BPA) ("Blue Parrot") Blue Parrot Energy Inc. announces the completion of a farm-out agreement for all of the lands held by its wholly owned subsidiary Rival Petroleum Co. in Whatcom County, Washington State, USA to two private companies.

The farmee will earn 100% of Blue Parrot's working interest with the drilling of the first well. Rival will retain a non-convertible gross overriding royalty of 7.5% plus the right to participate for 25% in the drilling of any wells and the acquisition of any areas of mutual interest (AMI) lands.

Blue Parrot is an oil and natural gas exploration, development and production company based in Calgary, Alberta.


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