Forest Prices 7.25% Senior Notes

Forest Oil Corp. on Friday announced the pricing of a private placement of $750 million of 7.25% Senior Notes due 2019, an increase of $250 million from the amount previously announced.

Forest plans to use the net proceeds from the offering to finance a portion of the cash consideration associated with The Houston Exploration Company (Houston Exploration) acquisition.

Interest is payable June 15 and December 15 of each year. The first interest payment will be made on December 15, 2007 and will consist of interest from closing to that date.

These materials are not a substitute for the registration statement that was filed with the SEC in connection with Forest's proposed acquisition of Houston Exploration, or the joint proxy statement/prospectus that was mailed to shareholders on or about May 4, 2007. Investors are urged to read the joint proxy statement/prospectus as it contains important information, including detailed risk factors. The registration statement and other documents filed by Forest and Houston Exploration with the SEC are available free of charge at the SEC's website,, or by directing a request when such a filing is made, to Forest Oil Corporation, 707 17th Street, Suite 3600, Denver, CO 80202, Attention: Investor Relations; or by directing a request to The Houston Exploration Company, 1100 Louisiana Street, Suite 2000 Houston, TX 77002, Attention: Investor Relations.

Houston Exploration, Forest, and their respective directors and executive officers may be considered participants in the solicitation of proxies in connection with the proposed transaction. Information about the participants in the solicitation is set forth in the final joint proxy statement/prospectus.

Forest Oil Corp. is engaged in the acquisition, exploration, development, and production of natural gas and crude oil in North America and selected international locations. Forest's principal reserves and producing properties are located in the United States in Alaska, Louisiana, New Mexico, Oklahoma, Texas, Utah, and Wyoming, and in Canada.


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