Paramount Resources Ltd. (TSX:POU) ("Paramount" or the "Company") has completed
its previously announced public offering of "flow-through" common shares for
gross proceeds of $70,037,400. The proceeds will be used by Paramount to incur
eligible Canadian exploration expenses and eligible Canadian development
expenses. The shares were sold through a syndicate of underwriters led by BMO
Capital Markets.


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".


Advisory Regarding Forward-Looking Statements

This news release contains a forward-looking statement pertaining to the use of
proceeds from the public offering. Although Paramount believes that the
expectations reflected in such forward looking statement are reasonable, undue
reliance should not be placed on it as Paramount cannot give any assurance that
such expectations will prove to be correct. The forward-looking statement in
this news release is made as of the date hereof and, except as required by
applicable securities law, Paramount undertakes no obligation to update publicly
or revise such statement, whether as a result of new information, future events
or otherwise.
Paramount Resources (TSX:POU)
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