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News Release

FOR IMMEDIATE RELEASE

SHININGBANK ENERGY SWEET GAS WELL BLOWOUT BROUGHT UNDER CONTROL

Calgary, Alberta (February 28, 2006) A blowout at a sweet gas well licensed to Shiningbank Energy Ltd. in a remote area of northwestern Alberta has been brought under control. The well was shut in Monday and checks confirmed this morning that the gas flow has stopped.

The well, located at 14-01-113-05 W6, about 6 km northeast of the town of Chateh, on the Dene Tha reserve, and about 40 km northeast of Rainbow Lake, blew out early Friday morning after a drilling rig encountered a shallow pocket of sweet gas.

Staff from the Alberta Energy and Utilities Board (EUB) are beginning their investigation into the incident. The cause of the blowout is not known at this time.

The public was never in any danger during the incident, no injuries were reported, no evacuations took place, the well never caught fire, and there was no sour gas associated with the blowout. All appropriate local authorities were notified of the incident.

The EUB ensures that the discovery, development, and delivery of Alberta's resources and utilities services take place in a manner that is fair, responsible, and in the public interest.

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For more information, please contact:

Davis Sheremata
EUB Communications
Email: Davis.Sheremata@gov.ab.ca
Office: 403-297-2252
Cell: 403-605-4216

NR2006-08