NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES


The previously announced offering of Paramount's 7.625% senior unsecured notes
due 2019 (the "Senior Notes") has been upsized from $100 million to $150 million
and priced at a premium price of $1,007.50 per $1,000 principal amount. The
offering is expected to close on December 11, 2013.


The Senior Notes have not been and will not be registered under any federal or
state securities laws of the United States. Accordingly, the Senior Notes may
not be offered or sold within the United States, except in transactions exempt
from the registration requirements of the federal and applicable state
securities laws of the United States. This news release shall not constitute an
offer to sell or the solicitation of an offer to buy the Senior Notes in any
jurisdiction.


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".


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