First Calgary Petroleums Releases Statement About Asset Sale

First Calgary Petroleums notes comments attributed to ONGC Videsh Ltd ('ONGC') in the media.

On April 16th First Calgary announced that it had received a number of proposals for the company or its assets and that it would be engaged in discussions regarding these proposals over the next few weeks. This continues to be the case.

Contrary to comments attributed to ONGC, First Calgary is in discussion with a number of parties. These discussions are progressing well and First Calgary intends to make an update announcement within the next two weeks.