Paramount Files 2006 Year End Disclosure Documents

CALGARY, ALBERTA - March 22, 2007 /CNW/ - Paramount Resources Ltd. (TSX:POU) has filed its audited consolidated financial statements as at and for the year ended December 31, 2006 and related management's discussion and analysis with Canadian securities regulatory authorities. Paramount has also filed its annual information form for the year ended December 31, 2006, which includes the disclosure and reports relating to reserves data and other oil and gas information required pursuant to National Instrument 51-101 of the Canadian Securities Administrators. Copies of these documents may be obtained via www.sedar.com or Paramount's website at www.paramountres.com.

For further information: Paramount Resources Ltd., J.H.T. (Jim) Riddell, President and Chief Operating Officer, (403) 290-3600 / Paramount Resources Ltd., B.K. (Bernie) Lee, Chief Financial Officer, (403) 290-3600, (403) 262-7994 (FAX), www.paramountres.com, Paramount Resources Ltd., C.H. (Clay) Riddell, Chairman and Chief Executive Officer, (403) 290-3600, (403) 262-7994 (FAX), www.paramountres.com, Paramount Resources Ltd., 4700 Bankers Hall West, 888 - 3rd Street SW, Calgary, AB T2P 5C5