POU Paramount Resources Ltd

Paramount (TSX:POU) and Clayton H. Riddell, Paramount's controlling shareholder,
acquired, directly and indirectly, an aggregate of 1,880,865 trust units of
Trilogy Energy Trust ("Trilogy") (representing approximately 2.0% of Trilogy's
currently outstanding trust units on an undiluted basis) since November 26, 2007
(the date of the last Early Warning Report) through purchases over the Toronto
Stock Exchange ("TSX") and acquisitions under Trilogy's Distribution
Reinvestment Plan ("DRIP"). All of the trust units acquired by Clayton H.
Riddell, directly or indirectly, from November 26, 2007 to January 17, 2008,
were through acquisitions under Trilogy's DRIP. Paramount and Clayton H. Riddell
currently hold in aggregate, directly and indirectly, 51,602,610 trust units of
Trilogy or approximately 54.2% of Trilogy's currently outstanding trust units on
an undiluted basis.


In addition to the foregoing, Clayton H. Riddell holds unvested options to
acquire 400,000 trust units of Trilogy, 20,000 of which will vest in October
2008, the earliest vesting date. The remaining options vest between 2009 and
2012. If the 400,000 trust units underlying the aforementioned unvested options
are included with the aggregate number of trust units of Trilogy held by Clayton
H. Riddell and Paramount, then Clayton H. Riddell and Paramount would hold an
aggregate of 52,002,610 trust units of Trilogy (representing approximately 54.6%
of Trilogy's currently outstanding trust units.)


The direct and indirect purchases and acquisitions by each of Paramount and
Clayton H. Riddell were made for investment purposes. Paramount and/or Clayton
H. Riddell may in the future increase or decrease their respective holdings in
Trilogy depending on market conditions or other relevant factors. This news
release is being issued pursuant to section 176 of the Securities Act (Alberta)
and will be filed on the System for the Electronic Document Analysis and
Retrieval ("SEDAR") with the report required under National Instrument 62-103.


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".

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