AJM Petroleum Consultants: Oil and Gas Price Forecaster Adds International Perspective

CALGARY, ALBERTA, Oct 05 (MARKET WIRE) --
For the first time in its 10-year history, Calgary-based AJM Petroleum
Consultants has issued an international oil and gas price forecast to
accompany its much-quoted Canadian quarterly oil and gas price forecast.
Moving forward, the international price forecast will allow the oil and
gas consulting firm to provide perspective and analysis on the US and
international energy industries.

"The economic crisis of this past year has demonstrated, in no uncertain
terms, just how much our economy and the energy business have become
globalized and interconnected," said AJM CEO Robin C. Mann. "AJM has
expanded its client base further into the US and international
jurisdictions, and many of our Canadian clients have international
interests. Our goal is to provide them with more data and information
with which to understand and manage their assets."

With respect to its Canadian price forecast, AJM continues to show crude
oil prices in constant dollars based on a WTI forecast of US$65.00/bbl
for 2009, rising to US$70.00/bbl in 2010, then reaching US$100.00/bbl by
2016 and holding for the balance of the forecast. On the natural gas
side, AJM expects the US NYMEX natural gas price in constant dollars to
average US$4.50/Mcf in 2009, and rise to a long-term price in 2020 of
US$8.00/Mcf. The Canadian priced AECO forecast continues to show lower
prices to reflect Canadian natural gas being supplanted by US shale gas.
It is expected to average Cdn$4.50/Mcf in 2009 rising to Cdn$7.50/Mcf in
2020.

Despite the current low prices and lowered long-term forecast prices, AJM
economist and Vice President Operations Ralph Glass still sees positive
signs that the Canadian natural gas industry may be turning the corner.

"Over the last few months, US industrial demand has increased," said Mr.
Glass. "US rig counts over 2009 were about half of what they were in
2008, impacting US production rates. And industry efforts on both sides
of the border will promote natural gas as a cleaner burning fuel for
power generation and more. This could have a positive impact on demand
and on the natural gas industry."

Complete forecast tables, commentary and documentation for AJM's June 30,
2009 Price Forecast are available for download at
http://www.ajmpetroleumconsultants.com/.

AJM Petroleum Consultants, a privately owned Calgary-based company, has
extensive experience in exploration prospect reviews, basin evaluation
studies, and reserve evaluations including evaluations of the
unconventional reserves and resources of tight gas, shale gas, coalbed
methane, bitumen and heavy oil. With a staff of more than 55 engineers,
geologists and technicians, AJM consults for clients including active oil
and gas exploration and production companies, natural gas transmission
companies, regulatory bodies, financial houses, banks and investment
analysts in Western Canada, North America and around the world.

Contacts:
Fuse Creative Communications
Gord Hawker
(403) 984-3707, Ext. 1
gord@lightafuse.ca
www.ajmpetroleumconsultants.com

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