Pearl Exploration and Production Ltd.



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  Jun 15, 2007 - 13:13 ET
Pearl to Commence Trading on First North, Stockholm on June 20, 2007

  CALGARY, ALBERTA--(Marketwire - June 15, 2007) - Pearl Exploration and Production Ltd. ("Pearl" or the "Company") (TSX VENTURE:PXX) is pleased to announce that the Stockholm Stock Exchange has approved Pearl's application for trading of Swedish Depository Receipts ("SDRs") on the First North list of the Stockholm Stock Exchange. The SDRs will commence trading at the market opening on June 20, 2007 under the symbol "PXXS". The Company's common shares will continue to trade on the TSX Venture Exchange under the symbol "PXX".

Each SDR will represent one issued common share of the Company on deposit with the designated depository, E. Ohman J:or Fondkommission AB ("Ohman") of Stockholm. The SDRs will be exchangeable into common shares (and vice versa) on a one-for-one basis. During the period June 13, 2007 to June 21, 2007 this exchange service will be offered for free by Ohman. After the initial free exchange period, a SEK 2100 fee will be charged. Ohman will act as sponsor in connection with the trading of SDRs on the First North list.

Keith Hill, President and CEO, commented, "I'd like to extend a warm welcome to our new SDR holders. We are excited and honoured to be trading on First North in Stockholm and look forward to many years of growth and success."

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 website 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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