True North Energy Corporation Research Coverage Initiated with 'Speculative Buy' Rating and 12 to 18 Month Target Price by Inves

(Investrend Research Syndicate) Ernest C. Schlotter, a
senior analyst with Investrend affiliate SISM Research and a four star
analyst according to StarMine, has initiated coverage of True North
Energy Corporation (OTCBB: TNEN) with a "Speculative Buy" Rating and
12 to 18 month target price of $8.50.

   According to the report:

   "True North Energy Corp. (OTCBB: TNEN) is a small US junior energy
exploration company focusing on oil and gas exploration in Alaska,
Texas, and Louisiana. In 2006, the Company acquired a total of 35,000
acres in the Cook Inlet and North Slope regions of Alaska. Initial
geological and geophysical assessment on its Harriet Point Prospect in
the Cook Inlet shows potential for significant hydrocarbon
accumulation. Success in one discovery would likely increase the stock
price of True North Energy significantly. In Texas, the first re-entry
well drilled by the Company was recently cased. The operator is
currently in the process of conducting the tests to determine the
commercial production of the well. If successful, the Company could
have a foundation of oil and gas participation in the Gulf Coast that
produces near-term cash flow, allowing True North to develop and
explore its core area play in Alaska. In August the Company
participated in a second well drilling program in Newton County Texas.
It is anticipated that the operator will be logging the well over the
next week. The Harriet Point Prospect venture is risky, but if
successful could be a company-making asset for True North Energy. This
field offers a long-term growth opportunity with a very large resource
potential for the Company. The Company will acquire additional seismic
data and conduct additional technical evaluation to minimize future
exploration and development risks. The shares currently trade
significantly above our estimate of the current net asset value of the
Company of $0.12 per share. Obviously, investors are discounting some
of the exploration potential in today's price of the stock."
   Ernest Schlotter said: "True North offers long term investors the
opportunity to invest in a company with a stake in an oil exploration
play in Alaska, a region that has produced a number of giant fields
over the past forty years. Most of the other participants near the
Company's play are major oil companies. Success in one discovery would
likely increase TNEN stock price significantly."
   True North Energy Corporation's website is http://www.tnecorp.com.
   True North Energy Corporation will pay SISM Research $1,750 per
month over a two-year period for the coverage.
   SISM Research, based in Zurich, Switzerland, is a private
investment research firm offering high-quality, independent,
fundamental research on public companies since 1995. SISM writes,
publishes and distributes research coverage, in both English and
German, on micro- to small-cap public companies trading on the OTC
Bulletin Board, NASDAQ and AMEX.
   SISM Research is a content provider to Thomson Financials
OneAnalytics/FirstCall and Investext, to Reuters Multex, and
Investrend.
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"Standards for Independent Research Providers." at
http://www.firstresearchconsortium.com, and their research is enrolled
for investor monitoring by the not-for-profit Shareholders Research
Alliance, Inc. (http://www.shareholdersresearch.com).
   Complete information is available at the company's InvestorPower
page accessible from
http://www.Investrend.com/company/list.asp?sPathParam=yes. Investors
are advised to read disclosures carefully before trading in the
equities of any enrolled company.
   Anyone interested in receiving alerts regarding True North Energy
Corporation research should email [e-mail] with "TNEN"
in the subject line.

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