Renewal of oil sales agreement



    TSX: PBC

    MONTREAL, Feb. 19 /CNW Telbec/ - PEBERCAN INC. (the "Company" or
"Pebercan"), (TSX: PBC) Pebercan announces the renewal of the oil sales
agreement signed in 2005 between its subsidiary Peberco Ltd. and COMERCIAL
CUPET S.A., an operational division of the Republic of Cuba national petroleum
company ("CUPET"), pursuant to which COMERCIAL CUPET S.A. purchases the oil
produced by the Block 7. The agreement is renewed for a period of one year,
retroactive to January 1, 2008 and at a sales price equivalent to an average
of approximately 73% of the U.S. Golf Coast N 6 fuel oil price index. The
percentage of the sales price discount increased in relation to the previous
3 year agreement which expired December 31, 2007, but also reflects the
considerable increase in the fuel oil price index during this period, which
increased from an average of about $US 26.79 in January 2005 to $US 68.13 in
December 2007.

    Legal Notice - Forward-Looking Statements
    -----------------------------------------

    The forward-looking statements contained in this press release involve a
number of known and unknown risks and uncertainties as well as other factors,
the effect of which may be that the Company's actual results, performance and
accomplishments differ significantly from the future results, performance and
accomplishments stated or implied in such forward-looking statements. The
Company has no obligation to update or modify such forward-looking statements,
either as a result of new information, future events or for any other reason,
and we expressly deny any such obligation in relation thereto. The Company's
most recent annual and interim reports and other documents filed with the
relevant securities commissions and regulators in Canada contain important
additional information on such risks and uncertainties.

    For more information concerning the quarterly reports or annual reports,
or to obtain additional information on the Company, please visit our Internet
site at: www.pebercan.com and SEDAR's Internet site at: www.sedar.com.

    
       THE CONTENTS OF THIS PRESS RELEASE HAVE NEITHER BEEN APPROVED,
                   NOR DISAPROVED BY ANY REGULATORY AGENCY
    
    %SEDAR: 00004118EF




For further information:

For further information: PEBERCAN Inc.: Christophe Ranger (CEO),
cranger@pebercan.com; (514) 286-5200, Fax: (514) 286-5177; Renmark Financial
Communications Inc.: Henri Perron, hperron@renmarkfinancial.com; Dan Symons,
dsymons@renmarkfinancial.com; (514) 939-3989, Fax: (514) 939-3717,
www.renmarkfinancial.com

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PEBERCAN INC.

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