Re: ARC Energy Fund 5's Holdings in Profound Energy Inc.



    CALGARY, Nov. 20 /CNW/ - ARC Equity Management (Fund 5) Ltd. (as the
general partner of ARC Energy Fund 5 Canadian Limited Partnership, ARC Energy
Fund 5 United States Limited Partnership and ARC Energy Fund 5 International
Limited Partnership, collectively "ARC Energy Fund 5") of Calgary, Alberta
announced today that as a result of the acquisition of Profound Energy Ltd. by
Cork Exploration Inc. (which has also now changed its name to Profound Energy
Inc.), ARC Energy Fund 5 has acquired 8,520,849 common shares ("Common
Shares") in the capital of Profound, representing an aggregate of
approximately 34.2% of the outstanding Common Shares.
    ARC Energy Fund 5, together with ARC Energy Venture Fund 4, now exercises
control or direction over an aggregate of 9,703,349 Common Shares,
representing approximately 39.0% of the current outstanding Common Shares.

    ARC Energy Fund 5 is an investment fund specializing in the energy
sector. Its general partner is ARC Equity Management (Fund 5) Ltd., of the ARC
Financial Group of companies. Although ARC Energy Fund 5 may make further
purchases of common shares of Profound through private purchases or through
the facilities of the Toronto Stock Exchange, such purchases will be made for
investment purposes.

    This press release has been issued in order to comply with applicable
securities legislation.





For further information:

For further information: Lauchlan Currie, President, ARC Equity
Management (Fund 5) Ltd., 4300, 400 - 3rd Avenue S.W., Calgary, Alberta,
Telephone: (403) 292-0680, Fax: (403) 292-0579

Organization Profile

ARC EQUITY MANAGEMENT (FUND 5) LTD.

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