NOTICE OF CANCELLATION OF HEARING

APPLICATION NO. 1454561

WAVE ENERGY LTD.

BERWYN FIELD

The Alberta Energy and Utilities Board (EUB) scheduled a public hearing of Application No. 1454561 at the offices of the EUB, 640 – 5 Avenue SW, Calgary, Alberta, commencing on Tuesday, October 10, 2006, at the hour of 1:30 p.m. The EUB has been advised by Wave Energy Ltd. that it is withdrawing the application.

Take Notice that the public hearing of application No. 1454561 to commence on Tuesday, October 10, 2006, is hereby cancelled.

Additional Information

For information about EUB procedures, contact:

Applications Branch, Resources Applications Group

Attention: S. Mangat

Telephone: (403) 297-4151

Issued at Calgary, Alberta on August 22, 2006.

ALBERTA ENERGY AND UTILITIES BOARD

Douglas A. Larder, Q.C., General Counsel