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Warrants Alert

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Warrant Symbol - MGX.WT.B
Number  Trading - 14,194,141
Expiration Date - Sept. 30, 2007
Cusip - 59318A 11 8
Warrant Symbol - MGX.WT.A
Number  Trading - 14,089,945
Expiration Date - Feb. 16, 2007
Cusip - 59318A 20 9

Warrants called to trade news

MGM Energy to list 14,194,141 warrants on March 2

2007-02-28 20:27 ET - Warrants Called to Trade
TSX bulletin 2007-0279
Further to Toronto Stock Exchange bulletin 2007-0062, a total of 14,194,141
common share purchase warrants of MGM Energy Corp. will be listed and posted
for trading at the open on March 2, 2007, under the following trading information:

Warrant symbol:  MGX.WT.B
Warrant Cusip No.:  59318A 11 8

Designated market-maker:  W.D. Latimer Co. Ltd.
Other markets:  None
The warrants were issued in connection with the exercise of short-term warrants of
the company that were exercisable until Feb. 16, 2007. Provided the short-term
warrants were exercised, the holder became entitled to receive one warrant. The
short-term warrants of the company were issued pursuant to the completion of a
plan of arrangement involving Paramount Resources Ltd., the company and the
shareholders of Paramount. Each warrant entitles the holder to purchase one
additional common share of the company at a price of $6 per share or one common
share of the company to be issued on a flow-through basis at a price of $7.50 per
share, at any time prior to 4:30 p.m. (Calgary time) on Sept. 30, 2007.

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