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Park Place Energy Corp. Provides Operational Update

2008-07-15 02:05:00

                         OTCBB:PRPL FRANKFURT: 3P2



    VANCOUVER, July 15 /EMWNews-FirstCall/ - Park Place Energy Corp.

("Park Place" or "the Company") is pleased to announce, with cash flow

exceeding expectations, operations at the Company's Eight Mile gas property

will be aggressively accelerated. Park Place's operating partner has called

a partners meeting to review production and 3D seismic data and decisions

will be made as to where to drill additional earning and step out wells.



    Park Place has identified a new strategy in focusing on the core area

surrounding the producing Eight Mile property in North Eastern British

Columbia, in which the Company has extensive experience. Within the

identified core lies the Horn River Basin area which has been identified as

the hottest resource play in North America.



    The Horn River Basin area has been identified as being larger than the

Barnett shales of Texas as reserves have been estimated as high as 50

trillion cubic feet of natural gas by Wood Mackenzie in a recent report.

The Horn River Basin has seen land prices spike as big players such as

Apache Corporation (NYSE:APA), EOG Resources (NYSE:EOG) and Encana

(NYSE:ECA) enter the area aggressively taking large blocks of exploration

land.



    AJM Petroleum Consultants, providers of a full spectrum of services to

the oil and gas industry, have identified several promising blocks of land

within Park Place's mandated core area in the current and upcoming landsale

bids in both Alberta and British Columbia. In addition to the landsale

bids, the company is evaluating joint venture opportunities that involve

shale gas. These activities are in line with the Company's mandate to

pursue the acquisition, exploration and development of land or other

property interests in shale gas properties in the Horn River Basin and

area.



    The Company's focus for an acquisition in shale gas properties will be

on obtaining a high quality project with blue-sky potential in the heart of

the Horn River Basin area. Park Place will continue to perform due

diligence on all possible opportunities in order to ensure any acquisition

will enhance the Company's identified core exploration area and bring value

to shareholders.



    Please watch a company spokesperson in an interview from July 11, 2008

with MoneyTV at http://www.emergingcompany.com/volume12week27.htm.



    About Park Place



    Park Place Energy Corp. is a North American oil and gas company that is

participating in high impact opportunities. The Company currently has gas

production in North-East British Columbia and is committed to developing

the asset as well as acquiring additional blue-sky gas opportunities in the

area, with a focus on shale gas. Park Place's management is focused on

optimizing profitability and enhancing shareholder value.



    Certain information regarding the Corporation contained herein may

constitute forward-looking statements. These statements may include

estimates, plans, expectations, opinions, forecasts, projections, guidance

or other statements that are not statements of fact. Although Park Place

believes that the expectations reflected in such forward-looking statements

are reasonable, it can give no assurance that such expectations will prove

to have been correct. These statements are subject to certain risks and

uncertainties and may be based on assumptions that could cause actual

results to differ materially from those anticipated or implied. The

Corporation is under no obligation to update or alter any forward-looking

statement. These risks include operational and geological risks, the

ability of the Corporation to raise necessary funds for exploration and the

fact that the Corporation does not operate all its properties. Park Place's

forward-looking statements are expressly qualified in their entirety by

this cautionary statement.



    CONTACT: Investor Relations: (877) 685-0076, Email:

info@parkplaceenergy.com, Website: http://www.parkplaceenergy.com





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