News Release June 26, 2001

FOR IMMEDIATE RELEASE

ALBERTA'S ENERGY RESOURCE PICTURE EUB RELEASES REPORT ON ENERGY RESOURCES AND SULPHUR RESERVES AND OUTLOOK TO 2010

CALGARY (June 26, 2001) - Today the Alberta Energy and Utilities Board (EUB) released its annual reserves report, providing stakeholders with one of the most reliable sources of information on the state of reserves for Alberta's diverse energy resources crude bitumen, crude oil, natural gas, natural gas liquids, sulphur, and coal.

The report includes estimates of initial reserves, remaining established reserves (reserves we know we have) and ultimate potential (reserves that are ultimately expected to be recovered). This year the report, ST 2001-98: Alberta's Reserves 2000 and Supply/Demand Outlook 2001-2010, also includes a 10-year supply/demand forecast for the resources.

The attached backgrounder provides the public and media with an overview of the EUB's report on reserves and production for each resource at the end of 2000, and a forecast of resource supply and demand to 2010.

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This news release, associated Backgrounder and the report (excluding detailed reserves and resource tables) are available on the EUB web site at http://www.ercb.ca.

Copies of the report including CD-ROM of detailed reserves and resource tables are available for $500 each from:

EUB Information Services
Main floor, 640 5 Avenue SW
Calgary, Alberta T2P 3G4
Telephone: (403) 297-8190
Fax: (403) 297-7040

For further information please contact:

Eileen Kahler
EUB Communications
Tel: (403) 297-8144
email: eileen.kahler@gov.ab.ca

NR 2001-18