Pacific Energy Resources Ltd.
TSX : PFE

Pacific Energy Resources Ltd.

December 22, 2008 09:00 ET

Pacific Energy Resources Ltd. Amends Certain Continuous Disclosure Filings

LONG BEACH, CALIFORNIA--(Marketwire - Dec. 22, 2008) - Pacific Energy Resources Ltd. (TSX:PFE) (the "Corporation") would like to announce that on December 19, 2008, it has filed amended copies of the following documents with the Canadian securities regulatory authorities on the System for Electronic Document Analysis and Retrieval ("SEDAR") at www.sedar.com:

1. Annual Information Form for the year ended December 31, 2007 ("AIF");

2. Restated management's discussion & analysis ("MD&A") for the year ended December 31, 2007;

3. CEO and CFO certificates in support of the amended AIF and MD&A; and

4. Form 51-101F1 for the year ended December 31, 2007, as well as Form 51-101F3 in support thereof.

The AIF and the Form 51-101F1 were revised to (i) provide additional disclosure about the Corporation's Alaska Assets; (ii) correct certain typographical errors in the reserves tables under the "Description of the Corporation's Business" heading; and (iii) correct the disclosure of the Corporation's Reserves Data under the "Statement of Reserves Data & Other Oil and Gas Information" section of the AIF.

The MD&A was restated to update the Company's conclusions of its internal controls over financial reporting and its disclosure controls and procedures as required under Multilateral Instrument 52-109.

PACIFIC ENERGY RESOURCES LTD.

Darren Katic, President & Director

This communication to shareholders and the public contains certain forward looking statements. Actual results may differ materially from those indicated by such statements. All statements, other than statements of historical fact, included herein, including without limitations statements regarding future production, are forward looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

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