Compton Petroleum Corporation Announces Sale Process



    CALGARY, June 11 /CNW/ - The Board of Directors of Compton Petroleum
Corporation (TSX - CMT, NYSE - CMZ), on the unanimous recommendation of the
Special Committee, has determined to commence a process to seek a buyer for
all of the outstanding common shares of the Company. Tristone Capital Inc. and
UBS Securities Canada Inc. will continue their role as financial advisors to
the Company in connection with the sale process which is expected to conclude
this autumn.
    A Steering Committee working in close liaison with the Company's
Executive Team and the Financial Advisors, will oversee the sale process. The
members of the Steering Committee are Mel Belich, Q.C., Irv Koop, P.Eng.,
Jeff Smith, P.Geol., and John Thomson, C.A.

    On-going Operations

    The Company recognizes the significant value of the efforts of its
dedicated professional and support staff and the importance of maintaining an
on-going capital expenditure program during this transition period. Most of
the Company's staff are equity holders of the Company and have a direct
interest in realizing the maximum value from the sale process.
    On the capital expenditure front, all efforts will be directed to
maximizing shareholder value during the sale period. Of particular note, the
Company has recently experienced considerable success in applying horizontal
drilling and multi-stage frac technology to several of its resource plays at
Niton and Hooker and will focus its efforts on these opportunities during the
sale process to ensure value recognition.
    As previously announced, the Company is proceeding with potential sales
of certain non-core properties which will result in Compton becoming a highly
focused non-conventional natural gas company as it commences the sale process.

    Forward Looking Statements

    Certain information regarding the Company contained herein constitutes
forward-looking information and statements and financial outlooks
(collectively, "forward-looking statements") under the meaning of applicable
securities laws, including Canadian Securities Administrators' National
Instrument 51-102 Continuous Disclosure Obligations and the United States
Private Securities Litigation Reform Act of 1995. Forward-looking statements
include estimates, plans, expectations, opinions, forecasts, projections,
guidance, or other statements that are not statements of fact, including
statements regarding (i) cash flow and capital and operating expenditures,
(ii) exploration, drilling, completion, and production matters, (iii) results
of operations, (iv) financial position, and (iv) other risks and uncertainties
described from time to time in the reports and filings made by Compton with
securities regulatory authorities. Although Compton believes that the
assumptions underlying, and expectations reflected in, such forward-looking
statements are reasonable, it can give no assurance that such assumptions and
expectations will prove to have been correct. There are many factors that
could cause forward-looking statements not to be correct, including risks and
uncertainties inherent in the Company's business. These risks include, but are
not limited to: crude oil and natural gas price volatility, exchange rate
fluctuations, availability of services and supplies, operating hazards, access
difficulties and mechanical failures, weather related issues, uncertainties in
the estimates of reserves and in projection of future rates of production and
timing of development expenditures, general economic conditions, actions or
inactions of third-party operators, and other risks and uncertainties
described from time to time in the reports and filings made with securities
regulatory authorities by Compton. Statements relating to "reserves" or
"resources" are deemed to be forward-looking statements, as they involve the
implied assessment, based on estimates and assumptions, that the reserves and
resources described exist in the quantities predicted or estimated, and can be
profitably produced in the future.
    The forward-looking statements contained herein are made as of the date
of this news release solely for the purpose of generally disclosing Compton's
recent operational and corporate activities. Compton may, as considered
necessary in the circumstances, update or revise the forward-looking
statements, whether as a result of new information, future events, or
otherwise, but Compton does not undertake to update this information at any
particular time, except as required by law. Compton cautions readers that the
forward- looking statements may not be appropriate for purposes other than
their intended purposes and that undue reliance should not be placed on any
forward-looking statement. The Company's forward-looking statements are
expressly qualified in their entirety by this cautionary statement.

    Corporate Information

    Compton Petroleum Corporation is an independent, public company actively
engaged in the exploration for and development and production of natural gas,
natural gas liquids, and crude oil in western Canada. Our activities are
focused primarily in the Deep Basin fairway in the province of Alberta, in the
Western Canada Sedimentary Basin. Our growth and reserve base results
predominantly from our exploration and development drilling programs.
Compton's shares are listed on the Toronto Stock Exchange under the symbol CMT
and on the New York Stock Exchange under the symbol CMZ.

    %SEDAR: 00003803E          %CIK: 0001043572




For further information:

For further information: E. G. Sapieha, President and Chief Executive
Officer, M. F. Belich, Chairman of the Board, or J. A. Thomson, Co-Chair of
the Special Committee, Telephone: (403) 237-9400, Fax: (403) 237-9410,
Website: www.comptonpetroleum.com, Email: esapieha@comptonpetroleum.com,
mbelich@comptonpetroleum.com, or jthomson@comptonpetroleum.com

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