Nation Wide Resources Inc. ceases operations and evaluates all options for maximizing shareholder value



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

    CALGARY, Dec. 13 /CNW/ - NATION WIDE RE

SOURCES INC. (TSXV:NWR) (the "Corporation"). The board of directors has determined that in light of significant operating cost increases for oil based asphalt products and a competitive labour market, the Corporation should immediately cease all business operations and terminate all employees. The Corporation has attempted to sell its refinery plants in Moose Jaw, Saskatchewan and in Edmonton, Alberta. However, the Corporation has not received any offers for the sale of its refinery plants. Based on the significant changes in the market place and the related operational challenges facing the Corporation, the limited liquidity for the common shares of the Corporation and the fact that the Corporation's business operations are significantly dependent on Marton F. Murphy, President and a director who is 72 years old, the board of directors has decided to explore all options with a view to enhancing shareholder value, including selling all of the assets of the Corporation, distributing the net cash assets to shareholders and completing a wind-up. Any transaction determined by the board of directors to be in the best interests of the shareholders will be completed in accordance with all applicable corporate and securities law requirements and the policies of the TSX Venture Exchange Inc. ("TSXV"). The current board of directors, Marton F. Murphy, Donald Getty and M.D. Walker will continue to serve the Corporation until such time as a proposed transaction has been completed. Once the board of directors has completed a review of the various options available to the Corporation, a further press release will be issued to update shareholders. As the Corporation has ceased to carry on active business operations, the Corporation has been advised by the TSXV that the common shares are scheduled to be transferred to the NEX board on Monday, December 17, 2007 and will trade under the symbol NWR.H The TSX Venture Exchange Inc. does not accept responsibility for the adequacy or accuracy of this release.

For further information:

For further information: Marton F. Murphy, President, Telephone: (403)
279-1000

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NATION WIDE RESOURCES INC.

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