CALGARY, ALBERTA - Oct. 15, 2004 /CNW/ - Paramount Resources
Ltd. has completed its previously announced private placement of
2,000,000 common shares issued on a "flow-through" basis at $29.50 per
share. 980,000 of the flow-through shares were sold through a syndicate
of Canadian investment dealers co-led by FirstEnergy Capital Corp., BMO
Nesbitt Burns Inc., Canaccord Capital Corporation and GMP Securities
Ltd. The other 1,020,000 flow-through shares were sold directly by
Paramount to persons connected to Paramount, including directors,
officers and employees.
Paramount is a Canadian oil and natural gas exploration, development and
production company with operations focused in Western Canada.
Paramount's common shares are listed on the Toronto Stock Exchange under
the symbol "POU".