Mr. Jim Riddell reports

PARAMOUNT RESOURCES LTD. COMPLETES PREVIOUSLY ANNOUNCED SHARE OFFERING FOR GROSS PROCEEDS OF $151 MILLION

Paramount Resources Ltd. has completed its previously announced public offering of 4,025,000 Class A common shares through a syndicate of underwriters at a price of $37.50 per share for gross proceeds of $150,937,500, which includes the exercise in full by the underwriters of their 15-per-cent overallotment option. The underwriting syndicate was led by BMO Capital Markets.