POU Paramount Resources Ltd

Paramount Resources Ltd. ("Paramount") (TSX:POU) has entered into an agreement
to sell, through a syndicate of underwriters co-led by RBC Capital Markets, BMO
Capital Markets and Peters & Co. Limited, on a guaranteed agency basis,
1,115,000 Class A Common Shares of Paramount to be issued on a "flow-through"
basis in respect of Canadian exploration expenses ("FTS") at a price of $44.00
per FTS for gross proceeds of $49,060,000. The FTS will be offered for sale in
all of the provinces of Canada other than Quebec by a prospectus supplement to
Paramount's short form base shelf prospectus dated November 14, 2012. Closing of
this offering is expected to occur on or about October 16, 2013.


Paramount also intends to issue, through a non-brokered private placement, FTS
at a price of $44.00 per FTS to Clayton H. Riddell and James H. T. Riddell
and/or companies controlled by them for gross proceeds of approximately $10
million as well as to certain other directors, officers and employees of
Paramount and other persons. Closing of these offerings are expected to occur on
or before the closing date of the public offering.


The gross proceeds from the FTS offerings will be used by Paramount to incur
eligible Canadian exploration expenses. The completion of the FTS offerings is
subject to Paramount receiving all necessary regulatory approvals.


Paramount is a Canadian oil and natural gas exploration, development and
production company with operations focused in Western Canada. Paramount's Class
A Common Shares are listed on the Toronto Stock Exchange under the symbol "POU".


Advisory Regarding Forward-Looking Statements

This news release contains forward-looking statements within the meaning of
applicable securities laws. Forward-looking statements include estimates, plans,
expectations, opinions, forecasts, projections, guidance or other statements
that are not statements of fact. This news release contains forward-looking
statements with respect to the timing and completion of the equity offerings,
the amounts to be raised under the equity offerings and the use of proceeds
therefrom. Although Paramount believes that the expectations reflected in such
forward-looking statements are reasonable, undue reliance should not be placed
on them because Paramount cannot give any assurance that such expectations will
prove to be correct. Factors that could cause actual results to differ
materially from those set forth in the forward-looking statements include
general economic, business and market conditions, industry conditions, stock
market and commodity price volatility and difficulty in obtaining required
regulatory approvals. Paramount undertakes no obligation to update its
forward-looking statements except as required by applicable laws.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Paramount Resources Ltd.
J.H.T. (Jim) Riddell
President and Chief Operating Officer
(403) 290-3600
(403) 262-7994 (FAX)


Paramount Resources Ltd.
B.K. (Bernie) Lee
Chief Financial Officer
(403) 290-3600
(403) 262-7994 (FAX)

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