Paris Energy Inc. Announces Asset Dispositions

Paris Energy Inc. (TSX VENTURE:PI) announces the sale of certain unused tangable
equipment and undeveloped acerage in two unrelated transactions for a total
consideration of $240,000. Both of the transactions are anticipated to close
within the next two weeks. The proceeds from the sales will be used to reduce
the Companies outstanding liabilities. 


As a result of the asset sales the Paris estimates that its net debt has been
substantily eliminated.


Paris also announces that previously disclosed litigation in which the Company
was named has been settled at no cost to the Company and Paris has been released
from any liability in relation to the matter.


Certain information and statements contained in this press release constitute
forward-looking information under applicable securities legislation, including,
without limitation, statements regarding thetiming of the closing and the amount
of the net debt. These forward-looking statements are based upon the opinions,
expectations, estimates and assumptions of management as at the date the
statements are made, including, without limitation, assumptions regarding:
global economic conditions; industry conditions; changes in laws and regulations
and changes in how they are interpreted and enforced; and fluctuations in
commodity prices. These forward-looking statements are subject to a variety of
risks and uncertainties and other factors that could cause actual events or
outcomes to differ materially from those anticipated or implied by such
forward-looking statements. Such factors include, but are not limited to, the
inability to obtain the required regulatory approvals; failure to secure
required equipment and personnel; changes in general global economic conditions;
the availability of qualified operating or management personnel; fluctuations in
commodity prices, foreign exchange or interest rates; changes in laws and
regulations including, without limitation, the adoption of new environmental and
tax laws and regulations and changes in how they are interpreted and enforced;
the results of exploration and development drilling and related activities; the
ability to access sufficient capital from internal and external sources; and
stock market volatility. Readers are cautioned that the assumptions used in the
preparation of such information, although considered reasonable at the time of
preparation, may prove to be imprecise and, as such, undue reliance should not
be placed on forward-looking statements. Paris's actual results, performance or
achievement could differ materially from those expressed in, or implied by,
these forward-looking statements, or if any of them do so, what benefits that
Paris will derive therefrom. Paris disclaims any intention or obligation to
update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by law.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Paris Energy Inc.
Robert W. Lamond
President & CEO
[phone]
[phone] (FAX)


Paris Energy Inc.
Charles A. Teare
Chief Financial Officer
[phone]
[phone] (FAX)


Paris Energy Inc.
1800, 633 - 6th Avenue S.W.
Calgary, Alberta T2P 2Y5