Alberta Clipper Energy Inc. (ACN - TSX) Obtains Interim Order and Announces Meeting



    CALGARY, April 17 /CNW/ - Alberta Clipper Energy Inc. ("Alberta Clipper")
is pleased to announce that it has obtained an interim order of the Court of
Queen's Bench of Alberta (the "Court") providing for, among other things, the
holding of a meeting of the shareholders of Alberta Clipper to approve the
previously announced arrangement under the Business Corporations Act (Alberta)
(the "Arrangement") with NAL Oil and Gas Trust ("NAL").
    A special meeting of the holders of the Common Shares of Alberta Clipper
(the "Alberta Clipper Shareholders") will be held in respect of the
Arrangement in the Angus/Northcote Room at the Bow Valley Conference Center,
Suite 300, 205 - 5th Avenue S.W., Calgary, Alberta on Wednesday May 27, 2009
at 2:30 pm (Calgary time).
    Alberta Clipper will mail a management information circular and proxy
statement respecting the meeting to the Alberta Clipper Shareholders on April
20, 2009. Following mailing, the information circular and proxy statement will
be available for viewing electronically under Alberta Clipper's profile on
SEDAR at www.sedar.com
    Pursuant to the Arrangement, NAL will acquire all of the outstanding
Common Shares of Alberta Clipper in exchange for 0.078875 of a trust unit of
NAL.
    The completion of the Arrangement is subject to certain conditions,
including receipt of the approval of the Alberta Clipper Shareholders and the
final approval of the Court and all applicable regulatory authorities. If all
necessary approvals are obtained and the conditions to the completion of the
Arrangement are satisfied or waived, Alberta Clipper anticipates that the
Arrangement will become effective on or about June 1, 2009.
    GMP Securities L.P. has provided the Board of Directors of Alberta
Clipper with a written opinion that, as of April 17, 2009, it is of the
opinion that the consideration to be received by the Alberta Clipper
Shareholders under the Arrangement is fair, from a financial point of view, to
the Alberta Clipper Shareholders.
    The Board of Directors has unanimously determined that the Arrangement is
in the best interests of Alberta Clipper and its shareholders. The Board of
Directors unanimously recommends that the holders of Alberta Clipper Common
Shares vote to approve the Arrangement at the meeting planned for May 27,
2009.

    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 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 timing of receipt of
the necessary shareholder, regulatory and court approvals and the time
necessary to satisfy the conditions to the completion of the Arrangement.
These dates may change for a number of reasons, including inability to secure
necessary shareholder, regulatory or court approvals in the time assumed or
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 pres 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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