POU Paramount Resources Ltd

Paramount Resources Ltd. (TSX:POU) ("Paramount") announces that it has made the
necessary filings, and received the necessary approvals, to make a normal course
issuer bid through the facilities of the Toronto Stock Exchange commencing
November 20, 2008 and ending November 19, 2009, or on such earlier date as
Paramount may complete its purchases under the bid.


A total of 3,387,456 common shares may be acquired under the bid, representing
approximately 5 percent of the 67,749,124 common shares outstanding as of
November 12, 2008. Pursuant to section 628 of the TSX Company Manual, under the
bid Paramount is permitted to acquire up to 25 percent of the average daily
trading volume or 70,574 common shares per day. Paramount will acquire its
common shares at the market price at the time of purchase, with acquired shares
being cancelled.


In the opinion of Paramount's Board of Directors, Paramount's common shares are,
from time to time, undervalued by the market, and the cost of acquiring the
shares is an expense prudently incurred by Paramount to increase shareholder
value.


Paramount's previous normal course issuer bid expired on May 6, 2008. Under the
previous bid, Paramount purchased 3,304,926 common shares at a weighted average
price per common share of $16.61.


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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