Alberta Clipper Energy Inc. (ACN - TSX) Announces Shareholder Approval of Arrangement with NAL Oil & Gas Trust



    
    /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN
    THE UNITED STATES/
    

    CALGARY, May 28 /CNW/ - Alberta Clipper Energy Inc. ("Alberta Clipper")
is pleased to announce that, at a special meeting held on May 27, 2009, the
Alberta Clipper shareholders approved the previously announced plan of
arrangement with NAL Oil & Gas Trust (the "Arrangement").
    Alberta Clipper also announces that the Court of Queen's Bench of Alberta
has granted a final order approving the Arrangement. Subject to the completion
of certain closing matters, it is anticipated that the Arrangement will become
effective on June 1, 2009. Under the Arrangement, holders of common shares of
Alberta Clipper will receive 0.078875 of a trust unit of NAL Oil & Gas Trust
for each common share of Alberta Clipper.

    Alberta Clipper Energy Inc. is a publicly traded Canadian energy company
involved in the exploration, development and production of natural gas and
crude oil in western Canada.

    FORWARD-LOOKING STATEMENTS

    This press release contains a forward-looking statement. More
particularly, this press release contains a statement concerning the
anticipated date for the completion of the Arrangement. Alberta Clipper has
provided this anticipated date in reliance on certain assumptions that it
believes are reasonable at this time, including assumptions as to the time
necessary to satisfy the conditions to the completion of the Arrangement.
These dates may change for a number of reasons, including the need for
additional time to satisfy the conditions to the completion of the
Arrangement. The Arrangement may be completed later than stated or not at all.
Accordingly, readers should not place undue reliance on the forward looking
statement contained in this press release concerning this date.
    The forward-looking statements or information contained in this news
release are made as of the date hereof and Alberta Clipper undertakes no
obligation to update publicly or revise any forward-looking statements or
information, whether as a result of new information, future events or
otherwise, unless so required by applicable securities laws

    The Toronto Stock Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release. Not for
distribution to U.S. newswire services or for dissemination in the United
States. Any failure to comply with this restriction may constitute a violation
of U.S. securities law.

    
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    This press release shall not constitute an offer to sell or the
    solicitation of an offer to buy the securities in any jurisdiction. The
    securities offered have not and will not be registered under the United
    States Securities Act of 1933, as amended (the "U.S. Securities Act") or
    any state securities laws and may not be offered or sold in the United
    States except in certain transactions exempt from the registration
    requirements of the U.S. Securities Act and applicable states securities
    laws.
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    %SEDAR: 00022458E




For further information:

For further information: Kel Johnston, President & C.E.O., Alberta
Clipper Energy Inc., Telephone: (403) 440-3474, Facsimile: (403) 440-3475,
Website: www.albertaclipperenergy.com

Organization Profile

ALBERTA CLIPPER ENERGY INC.

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