Calvalley Petroleum Named to 2005 TSX Venture 50

Calvalley Petroleum Inc. was named to the 2005 TSX Venture 50, the first ever ranking of Canada's top emerging public companies listed on TSX Venture Exchange.

"Being named to the TSX Venture 50 is a tremendous recognition for our accomplishments as a company. The significant success that Calvalley has experienced this year is one of the key reasons for the Company's graduation to the Toronto Stock Exchange on November 4, 2005." said Edmund Shimoon, CEO, Calvalley Petroleum Inc.

The TSX Venture 50 includes the top 10 companies in each of five major industry sectors - mining, oil & gas, technology, life science and diversified industries - based on a ranking formula with equal weighting given to one-year revenue (last reported 12 months), return on investment, market cap growth and trading volume. All data was as of August 31, 2005.

"We are very proud to launch the TSX Venture 50 to celebrate the achievement of our issuers," said Linda Hohol, President, TSX Venture Exchange. "The impressive list of companies demonstrates that the TSX Venture Exchange is a unique incubator of public companies, and the companies in the TSX Venture 50 are living proof as to why this market is working."

The 2005 TSX Venture 50(TM) was compiled based on public historical data and is not an invitation to purchase securities listed on Toronto Stock Exchange and/or TSX Venture Exchange. TSX Group Inc. and its affiliates do not endorse or recommend any securities referenced in this ranking. Neither TSX Group Inc. nor its affiliated companies represent, warrant or guarantee the accuracy or the completeness of the information. You should not rely on this information contained herein for any trading, business or financial purposes. TSX Group Inc. and its affiliates assume no liability for any errors or inaccuracies herein or any use or reliance upon this information.