Point North Energy Ltd.
TSX : PNY

Point North Energy Ltd.

April 10, 2006 19:51 ET

Point North Energy Reviews Winter Program in Fort Liard, NT

CALGARY, ALBERTA--(CCNMatthews - April 10, 2006) - Point North Energy Ltd. (TSX:PNY) ("Point North") has completed its 2005/2006 winter program in Fort Liard, NT. Point North has a 24 percent interest in Fort Liard, a property that provides exceptional potential for shareholders thanks to its large original gas in place. Point North also has interests in oil and gas properties in Alberta and British Columbia, where the company has also been active during the winter season. An operational update will be provided for those properties when complete operational results are available.

K-29A, Fort Liard

A new production tubing and packer system was installed in K-29A to isolate various sections of the wellbore from water influx. Testing of the well proved inconclusive and was not completed due to downhole issues and a time constraint imposed by the decommissioning of the ice bridge during spring. Further action on this well may be recommended once all the test results and options have been evaluated.

2K-29 & 3K-29 Compression, Fort Liard

Compression is currently being installed for the 2K-29 and 3K-29 wells and is expected to start-up in May, 2006. Both of these wells are not currently producing because of high sales pipeline pressure.

2M-25, Fort Liard

This well continues to produce approximately 500 mcf/d (83 boe/d) net to Point North Energy, and is currently the only producing well in the area.

About Point North

Point North is a northern-focused junior oil and gas exploration and development company with assets in Fort Liard, Northwest Territories, northeast British Columbia, and northwest Alberta.

Forward Looking Statements

Information in this press release contains forward-looking statements including expectations of future production and components of cash flow and earnings. Investors are cautioned that assumptions used in the preparation of such information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Point North Energy. These risks include, but are not limited to; the risks associated with the oil and gas industry, commodity prices and exchange rate changes. Industry related risks could include, but are not limited to; operational risks in exploration, development and production, delays or changes in plans, risks associated to the uncertainty of reserve estimates, health and safety risks and the uncertainty of estimates and projections of production, costs and expenses. The risks outlined above should not be construed as exhaustive. Investors are cautioned not to place undue reliance on any forward-looking information. Point North Energy undertakes no obligation to update or revise any forward-looking statements

Note

In this news release the term barrel of oil equivalent ("boe") may be misleading, particularly if used in isolation. A boe conversion ratio of one boe for 6,000 cubic feet of natural gas is based on an energy-equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. All boe conversions in this news release are derived by converting gas to oil in the ratio of six thousand cubic feet of gas to one barrel of oil.


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