Pearl Exploration and Production Ltd.



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  Apr 30, 2007 - 11:44 ET
Pearl to Apply for Trading on First North, Stockholm

  CALGARY, ALBERTA--(CCNMatthews - April 30, 2007) - Pearl Exploration and Production Ltd. ("Pearl" or the "Company") (TSX VENTURE:PXX) is pleased to announce that it intends to apply for trading of Swedish Depository Receipts ("SDRs") on the First North list of the Stockholm Stock Exchange.

Each SDR will represent one issued common share of the Company on deposit with a designated depository. The SDRs will be exchangeable into common shares on a one-for-one basis subject to a payment of an exchange fee which is currently being negotiated. E. Ohman J:or Fondkommission AB of Stockholm will act as sponsor in connection with the trading of SDRs on the First North list. Trading on First North is subject to a number of conditions including sufficient shareholder distribution in Sweden and distribution of a company description. If all of the conditions are satisfied, the SDRs are expected to begin trading by the end of the third quarter.

Keith Hill, President and CEO, commented, "We are very excited about the opportunity to trade on First North. Over the past year, we have seen tremendous growth in our shareholder base in Sweden and we look forward to welcoming many new shareholders when trading commences. A listing on First North will complement our existing listing on the TSX Venture Exchange in Canada and add liquidity and depth of distribution."

Pearl is a rapidly growing oil and gas company with production and development assets in Canada and the U.S. The Company is focused on delivering disciplined growth with an emphasis on large resource opportunities. Additional information on Pearl is available on the Company's at www.pearleandp.com.

Forward-looking statements: This document contains statements about expected or anticipated future events and financial results that are forward-looking in nature and as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, the regulatory process and actions, technical issues, new legislation, competitive and general economic factors and conditions, the uncertainties resulting from potential delays or changes in plans, the occurrence of unexpected events, and the Company's capability to execute and implement its future plans. Actual results may differ materially from those projected by management. For such statements, we claim the safe harbour for forward-looking statements within the meaning of the Private Securities Legislation Reform Act of 1995.


The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

FOR FURTHER INFORMATION PLEASE CONTACT:


Pearl Exploration and Production Ltd.
Keith Hill
President and Chief Executive Officer
(604) 689-7842
(604) 689-4250 (FAX)
Email: khill@namdo.com

or

Pearl Exploration and Production Ltd.
Arlene Weatherdon
Chief Financial Officer
(403) 716-4054
(403) 265-8324 (FAX)
Email: arlene.weatherdon@pxx.ca

or

Pearl Exploration and Production Ltd.
Sophia Shane
Corporate Development
(604) 689-7842
(604) 689-4250 (FAX)
Email: sophias@namdo.com
Website: www.pearleandp.com
 
 

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