NOTICE OF RESCHEDULING OF HEARING
APPLICATIONS NO. 1451117, 1457452, 1462817, 1462821 AND 1509981
BEARSPAW PETROLEUM LTD.
CROSSFIELD FIELD (CHESTERMERE AREA)

Take Notice that examiners appointed by the Energy Resources Conservation Board (ERCB/Board) had scheduled a public hearing of Applications No. 1451117, 1457452, 1462817, 1462821 and 1509981 at the Radisson Hotel Calgary Airport, 2102 - 16 Avenue NE, Calgary, commencing on Tuesday, June 17, 2008 at the hour of 9:00 a.m. The Board received requests from interested parties to reschedule the hearing and it agreed to grant the requests.

Therefore, Take Notice that examiners appointed by the Board will hold a public hearing of Applications No. 1451117, 1457452, 1462817, 1462821 and 1509981 at the Radisson Hotel Calgary Airport, 2102 - 16 Avenue NE, Calgary, commencing on Monday, September 15, 2008 at the hour of 9:00 a.m. All interveners to this proceeding must be present at the commencement of the hearing to register their appearance.

Nature of the Applications
Bearspaw Petroleum Ltd. (Bearspaw) has submitted Application No. 1462817 pursuant to Section 2.020 of the Oil and Gas Conservation Regulations (OGCR), for a licence to drill a directional well from a surface location of Legal Subdivision (LSD) 16, Section 35, Township 23, Range 28, West of the 4th Meridian to a projected bottomhole location of LSD 13-36-23-28W4M. The purpose of the proposed well would be to produce natural gas from the Belly River Group. The gas to be produced would contain a maximum hydrogen sulphide (H2S) concentration of 0 moles per kilomole (mol/kmol) (0 per cent). The proposed well would be located approximately 0.8 kilometres (km) southeast of the Town of Chestermere.

Bearspaw has submitted Application No. 1462821 pursuant to Section 2.020 of the OGCR, for a licence to drill a vertical well from a surface location of LSD 9-2-24-28W4M. The purpose of the proposed well would be to produce natural gas from the Belly River Group. The gas to be produced would contain a maximum H2S concentration of 0 mol/kmol (0 per cent). The proposed well would be located approximately 0.5 km east of the Town of Chestermere.

Bearspaw has applied, in accordance with Part 4 of the Pipeline Act, for approval to construct and operate two pipelines to be constructed within the same right-of-way. One pipeline would transport natural gas containing no H2S, and the second pipeline would transport oil effluent with an expected H2S content of 20.0 mol/kmol (2 per cent) from LSD 9-2-24-28W4M to an existing battery at LSD 7-33-23-28W4M. Bearspaw has applied for one preferred pipeline route and two alternative routes for both of these proposed pipelines. Application No. 1451117 is for the proposed original route, Application No. 1457452 is for the proposed alternate route 1, and Application No. 1509981 is for the proposed alternate route 2 (see map below). 

- 2 -

Additional Information
To obtain a copy of the applications, contact:

Bearspaw Petroleum Ltd.
Suite 80, 6712 Fisher Street SE
Calgary, Alberta T2H 2A7
Attention: Mr. Detlef Ostermann
E-mail: dostermann@bearspawpet.com
Telephone: 403-258-3767
Fax: 403-258-3197

A copy of the record of this proceeding is available for viewing at the ERCB’s Calgary office,

ERCB Information Services
Main Floor, 640-5th Avenue SW
Calgary, Alberta T2P 3G4
Telephone: (403) 297-8311 (Option 2)

For information about ERCB procedures, contact:

Applications Branch, Facilities Applications Group
Attention: Julia Fulford
Telephone: 403-297-8840
Fax: 403-297-4117
E-mail: julia.fulford@ercb.ca

To File a Submission
The following is the schedule for this proceeding:

May 14 and 22, 2008 - Information Sessions on ERCB Hearing Process
June 2, 2008  - Deadline for Information Requests (IRs) to Bearspaw
June 30, 2008  - Deadline for Bearspaw to respond to IRs
August 15, 2008 - Interveners to file hearing submissions
August 29, 2008 - Bearspaw to file rebuttal submission
September 15, 2008 - Hearing Commences

When making a submission, send one copy of your submission to the applicant at the name and address above and ten copies to

Julia Fulford, Applications Coordinator
Applications Branch, Facilities Applications Group
Energy Resources Conservation Board
640 - 5th Avenue SW
Calgary, Alberta T2P 3G4

- 3 -

Notes
Any submission filed shall contain the following:

(a) a concise statement indicating

(i) the manner in which the intervener’s rights may be directly and adversely affected by a decision of the Board on the proceeding,

(ii) the nature and scope of the intervener’s intended participation,

(iii) the disposition of the proceeding that the intervener advocates, if any,

(iv) the facts the intervener proposes to show in evidence,

(v) the reasons why the intervener believes the Board should decide in the manner that the intervener advocates, and

(vi) the intervener’s efforts, if any, to resolve issues associated with the proceeding directly with the applicant;

(b) the name, address in Alberta, telephone number, fax number and, if available, e-mail address of the intervener;

(c) if the intervener is represented by a representative, the name, address in Alberta, telephone number, fax number and, if available, e-mail address of the representative;

(d) if the intervener is an unincorporated organization, the nature of the intervener’s membership.

If you have an interest in this matter, you are required to make a submission with respect to these applications even if you have previously filed a submission with the Board or with Bearspaw on these applications.

If there are no submissions received, this hearing may be cancelled and the ERCB will continue to process the applications without further notice or without a hearing.

Submissions relating exclusively to compensation for land usage are not dealt with by the ERCB but may be referred to the Alberta Surface Rights Board.

In accordance with Section 13 of the Energy Resources Conservation Board Rules of Practice, all documents filed in respect of this proceeding must be placed on the public

- 4 -

record unlesss otherwise ordered by the Board, subject to the Freedom of Information and Protection of Privacy Act.

In accordance with Section 25 of the Energy Resources Conservation Board Rules of Practice, a person who intends to raise a question of constitutional law before the Board must give notice in accordance with Section 12 of the Administrative Procedures and Jurisdiction Act and its regulation.

In accordance with Section 40 of the Energy Resources Conservation Board Rules of Practice, witnesses must give evidence under oath or affirmation.

Issued at Calgary, Alberta on April 29, 2008.

ENERGY RESOURCES CONSERVATION BOARD
Patricia M. Johnston, Q.C., General Counsel