Petrobank Announces First THAI(TM)/CAPRI(TM) Production

Petrobank Energy and Resources Ltd. ("Petrobank" or the "Company") (TSX:PBG) is pleased to announce results from the world's first CAPRI(TM) in-situ catalytic production well (P-3B) at our Whitesands project near Conklin, Alberta.

Whitesands P-3B Update

Petrobank drilled P-3B late in the second quarter of 2008 and completion operations commenced on the well in late July. This well has been designed to demonstrate the additional upgrading potential of our patented CAPRI(TM) process which places an active catalyst bed between two concentric slotted liners. In laboratory tests, CAPRI(TM) has achieved an upgrading effect of seven degrees API in addition to the upgrading effect resulting from the THAI(TM) process. The P-3B well also incorporates our narrower slot design, intended to significantly reduce sand production from the McMurray sandstone reservoir typically encountered at Whitesands.

Bow Valley Energy Ltd. announces first oil production from Chestnut field development, U.K. North Sea

Bow Valley Energy Ltd. (TSX - BVX) is pleased to announce that the Chestnut field in the U.K. North Sea commenced oil production on September 20, 2008. Bow Valley Petroleum (UK) Limited, a wholly-owned subsidiary of Bow Valley Energy Ltd., owns a 15.125% working interest in Block 22/2a which contains the Chestnut field.

The Chestnut field is located approximately 180 miles east of Aberdeen in water depth of approximately 120m. Chestnut has been developed using the new Sevan Hummingbird floating production storage and offloading unit ('FPSO'). The Sevan Hummingbird FPSO has a capacity to store 270,000 bbls. of oil, an oil processing capacity of 30,000 barrels of oil per day and a water injection capacity of 20,000 barrels per day.

Niko Resources Quarterly Dividend

Niko Resources Ltd. (TSX:NKO) declared a second quarter dividend of $0.03 per share. The record date is September 30, 2008 and date of payment is October 15, 2008.

Certain statements in this press release are forward-looking statements. Specifically, this press release contains forward-looking statements relating to management's approach to operations, estimates of future sales, production and deliveries, business plans for drilling and development, estimated amounts and timing of capital expenditures, anticipated operating costs, royalty rates, cash flows, transportation plans and capacity, anticipated access to infrastructure or other expectations, beliefs, plans, goals, objectives, assumptions and statements about future events or performance.

Gran Tierra Energy Announces Oil Discovery With 2,324 BOPD Test Rate in Argentina

Exploration Success Adds Near-Term Production and Cash Flow to Argentine Business Unit; Increases Exploration Potential of Acreage

Gran Tierra Energy Inc. (Amex: GTE; TSX: GTE), a company focused on oil exploration and production in South America, today announced it has finished drilling and testing the Proa.x-1 exploration well in the Surubi Block, Noroeste Basin, Argentina.

Gran Tierra Energy began drilling the Proa.x-1 exploration well on July 9, 2008 and reached total measured depth of 12,920 feet on August 28, 2008. Good oil shows were encountered in Cretaceous volcanics and volcaniclastics in the Palmar Largo Formation during drilling and oil saturations were indicated on logs. Gran Tierra Energy conducted a drill-stem test in the Lower Palmar Largo formation from 12,694 to 12,713 feet and obtained no flow.