Pearl Exploration leaves TSX-V for TSX

Mr. Keith Hill reports PEARL TO COMMENCE TRADING ON TORONTO STOCK EXCHANGE ON SEPTEMBER 4, 2008

The common shares of Pearl Exploration and Production Ltd. will begin trading on the Toronto Stock Exchange as of the market opening on Sept. 4, 2008. The company's trading symbol PXX will remain the same. Pearl's shares will be delisted from the TSX Venture Exchange at the close of market on Sept. 3, 2008.

Keith Hill, president and chief executive officer, commented, "Pearl's graduation to the Toronto Stock Exchange is a reflection of the company's growth and its accomplishments to date, and we look forward to further success in the months and years to come as we continue to unlock the value of our heavy oil assets and tap into the enormous potential and opportunities available in the North American heavy oil sector."

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