Trilogy Energy Corp. and Paramount Resources Ltd. Announce Closing of Secondary Offering of Trilogy Common Shares

NOT FOR RELEASE OVER U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE U.S.

Trilogy Energy Corp. (TSX:TET) ("Trilogy") and Paramount Resources Ltd.
(TSX:POU) ("Paramount") announce that Paramount has completed the sale of
5,000,000 Non-Voting Shares of Trilogy owned by Paramount to a syndicate of
underwriters led by RBC Capital Markets at a price of $37.90 per share for gross
proceeds of CDN$189,500,000. Upon completion of the sale, the Non-Voting Shares
were converted into Common Shares of Trilogy.


Trilogy did not receive any proceeds from the sale of the shares. Following
closing, Paramount owns approximately 12.8 million Common Shares and 6.4 million
Non-Voting Shares of Trilogy, representing an interest of approximately 16% in
Trilogy. Paramount's major shareholder continues to own directly or indirectly,
an interest of approximately 35% in Trilogy.


This press release does not constitute an offer to sell or a solicitation of an
offer to buy any securities of Trilogy in any jurisdiction in which such offer,
solicitation or sale would be unlawful. These securities have not been and will
not be registered under the U.S. Securities Act or any U.S. state securities
laws and may not be offered or sold in the United States except in compliance
with the registration requirements of the U.S. Securities Act and applicable
U.S. state securities laws or pursuant to an exemption therefrom.


About Trilogy

Trilogy is a growing petroleum and natural gas-focused Canadian energy
corporation that actively develops, produces and sells natural gas, crude oil
and natural gas liquids. Trilogy's geographically concentrated assets are
primarily low-risk, high working interest properties that provide abundant
infill drilling opportunities and good access to infrastructure and processing
facilities, many of which are operated and controlled by Trilogy. Trilogy's
common shares are listed on the Toronto Stock Exchange under the symbol "TET".


About Paramount

Paramount is a Canadian oil and natural gas exploration, development and
production company with operations focused in Western Canada. Paramount's Common
Shares are listed on the Toronto Stock Exchange under the symbol "POU".

Paramount Resources (TSX:POU)
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