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March 1, 2001______________________________________

Brokered Unit Private Placement

Further to the Company's news release of February 28, 2001 regarding the brokered special warrant private placement, the Company and its agent, Yorkton Securities Inc., have agreed to carry out a private placement of up to 500,000 units, rather than special warrants, at a price of $0.25 per unit for total proceeds of $125,000. Each unit will consist of one common share and one-half of one non-transferable share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share at any time for one year from the closing date at a price of $0.30 per share. Yorkton Securities Inc. will receive a cash commission of 7.5% of the gross proceeds of the private placement.

The Company intends to use the proceeds from the private placement to acquire an interest in the Northeast British Columbia oil and gas properties.

The private placement is subject to regulatory approval.

Stock Options

The Company has granted stock options to directors, officers, and employees of the Company in the amount of 180,996 shares at a price of $0.28 per share, exercisable up to and including March 1, 2006.

BY THE ORDER OF THE BOARD OF DIRECTORS

Eugene Beukman, President & Director