Paramount Resources Ltd. (TSX:POU) ("Paramount") has completed its previously
announced public offering of 1,450,000 Class A Common Shares ("Common Shares")
issued on a "flow-through" basis in respect of Canadian exploration expenses at
a price of $40.50 per share for gross proceeds of $58,725,000. The shares were
sold through a syndicate of underwriters led by BMO Capital Markets. 


Paramount has also completed its previously announced private placement of
100,000 Common Shares issued on a "flow-through" basis in respect of Canadian
exploration expenses at a price of $40.50 per share to companies controlled by
Mr. Clayton H. Riddell, Paramount's Chairman and Chief Executive Officer, for
gross proceeds of $4,050,000.


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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