Marquee Energy Ltd. announce the closing of the acquisition (the "Acquisition") by the Company of certain low decline, operated, producing assets contiguous with the Company's operations at Michichi from Paramount Resources Ltd. (Paramount).

The purchase price of $11,650,000 (the "Purchase Price") was paid through the issuance of 13,705,883 common shares ("Shares") in the capital of Marquee at $0.85 per Share. Paramount now owns approximately 14% of the outstanding shares of Marquee.

As previously disclosed, 5,257,067 of the Shares to be issued to Paramount will be subject to a non-voting agreement pursuant to which Paramount will agree not to exercise the voting rights in respect of such Shares until Marquee obtains shareholder approval (Shareholder Approval) to permit voting of these Shares.

Tags: Marquee Energy Ltd.