Point North Energy Ltd.

Point North Energy Ltd.

November 23, 2006 18:33 ET

Point North Energy Announces Resignation of Director

CALGARY, ALBERTA--(CCNMatthews - Nov. 23, 2006) - Point North Energy Ltd. (TSX:PNY) ("Point North" or the "Corporation") announces the resignation of Hugh Gillard from the Point North Board of Directors, effective November 22, 2006.

Mr. Gillard's contribution to Point North will be missed, as he brought extensive knowledge and expertise to the Point North team throughout a very challenging period for the Corporation. Mr. Gillard's resignation also creates a vacancy on the Corporation's Audit Committee. The remaining members of the Audit Committee are Mr. Dennis Miller and Mr. John Niedermaier, who are both considered to be independent directors of the Corporation. The Board of Directors intends to consider alternatives to filling the vacancy on the Audit Committee at its next meeting, currently scheduled for December 5, 2006. Such alternatives may include the temporary appointment to the Audit Committee of a current, non-independent director of the Corporation.

Point North would like to thank Mr. Gillard for his support and wish him the best in his future endeavors.

Contact Information

  • Point North Energy Ltd.
    John Emery
    President & CEO
    (403) 269-5803
    (403) 264-1336 (FAX)
    Iradesso Communications Corp.
    Stephanie K. Mesher
    Investor Relations Advisor
    (403) 503-0144 Ext: 216
    Point North Energy Ltd.
    2810, 605 - 5th Avenue SW
    Calgary, AB, T2P 3H5
    Website: www.pointnorthenergy.com