ASC Settles Illegal Insider Trading Allegations with Calgary Businessman

    CALGARY, Feb. 18 /CNW/ - The Alberta Securities Commission (ASC) has
concluded a settlement with Calgary businessman Elmer Keith Conrad regarding
allegations that he engaged in illegal insider trading of Caribou Resources
Corp. securities. Conrad agreed to pay $32,010 to settle the allegations and
$15,000 towards investigations costs, as well as cease trading for one year.
    In the settlement agreement, Conrad admitted that he breached the Alberta
Securities Act when he purchased 359,000 shares of Caribou Resources after
gaining knowledge of material facts not generally disclosed. Through this
knowledge, Conrad was aware of the financial terms offered by JED Oil Inc. to
purchase Caribou Resources. Conrad's unrealized trading gain on the Caribou
Resources shares he purchased amounted to $21,340.
    A copy of the Settlement Agreement can be found on the ASC website at

    The ASC is the regulatory agency responsible for administering the
province's securities laws. It is entrusted to foster a fair and efficient
capital market in Alberta and to protect investors. As a member of the
Canadian Securities Administrators, the ASC works to improve, coordinate and
harmonize the regulation of Canada's capital markets.

For further information:

For further information: For Media Inquiries: Mark Dickey, Senior
Communications Advisor, (403) 297-4481; For Investor Inquiries: ASC Public
Inquiries, Toll Free 1-877-355-4488

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