Fairmount Energy Inc. files for normal course issuer bid

    CALGARY, March 19 /CNW/ - Fairmount Energy Inc. ("Fairmount") (FMT - TSX
Venture Exchange) announces that it has filed with the TSX Venture Exchange a
Notice of Intention to purchase its common shares from time to time in
accordance with the normal course issuer bid procedures under Canadian
securities laws.
    Pursuant to the issuer bid, Fairmount may purchase for cancellation up to
1,392,955 of its common shares, representing 10% of the outstanding public
float of Fairmount, during the 12-month period commencing March 20, 2008. The
price which Fairmount will pay for any shares under the normal course issuer
bid will be the market price at the time of purchase. The purchases will be
made on the open market through the TSX Venture Exchange. The brokerage firm
conducting the normal course issuer bid on behalf of Fairmount is Peters & Co.
    Fairmount believes that the purchases of its common shares at recent
market prices is a worthwhile investment since recent market prices of its
shares do not properly reflect the underlying value of its assets and
business. To the extent that Fairmount purchases for cancellation such shares
in accordance with the normal course issuer bid, the holdings of the remaining
shareholders would represent an increased proportion of the shares outstanding
and, all other things remaining equal, are expected to result in an increased
net asset value per share.

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release. The news
    release may contain forward-looking information. Actual future results
    may differ materially from those contemplated.

For further information:

For further information: Joseph Durante, President and Chief Executive
Officer, or Ryan Michaluk, Vice President Finance and Chief Financial Officer,
Telephone: (403) 355-0440, Fax: (403) 355-0465, website:

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