Pacific Energy to Transport Jackup to Cook Inlet

Pacific Energy Resources Ltd.

Pacific Energy Resources Ltd. has been granted an additional extension by the State of Alaska to provide contractual evidence of a heavy lift vessel necessary to transport a jackup rig to the Cook Inlet Alaska for the 2009 drilling season.

The jackup rig will be used to drill the Company's Cook Inlet Alaska prospects, including its 100% owned Corsair exploration prospect. The new deadline granted by the State of Alaska is October 31, 2008.