Hesperian Capital Management Ltd. Announces Changes to its Investment Team

    CALGARY, April 20 /CNW/ - Randal L. Oliver, Chairman and Portfolio
Manager, would like to announce a change to our investment management team.
    Effective April 16, William Koenig is no longer employed by Hesperian
Capital Management Ltd. as Chief Investment Officer and Portfolio Manager.
Effective the same day, Randal Oliver will take on the role of Chief
Investment Officer. A further announcement should be forthcoming.

    Hesperian Capital Management Ltd. is a Calgary based investment counselor
that manages the Norrep Group of Funds, which has approximately $875 million
in combined assets. The Norrep Group of Funds focuses on small and
mid-capitalization equities (Norrep Fund and Norrep II Class), Canadian
mid-large capitalization equities (Norrep Q Class), Canadian energy equities
(Norrep Flow-Through Limited Partnerships), US micro capitalization equities
(Norrep US Class) and global small capitalization equities (Norrep G Class)
from both a fundamental and quantitative perspective.
    Visit www.hesperiancapital.com for more details about Hesperian and the
Norrep Group of Funds.

    Forward-Looking Statements

    This press release may include forward-looking statements including
opinions, assumptions, estimates and expectations of future production, cash
flow and earnings. When used in this document, the words "anticipate,"
"believe," "estimate," "expect," "intent," "may," "project," "plan", "should"
and similar expressions are intended to be among the statements that identify
forward-looking statements. Forward-looking statements are subject to a wide
range of risks and uncertainties, and although Hesperian believes that the
expectations represented by such forward-looking statements are reasonable,
there can be no assurance that such expectations will be realized. Any number
of important factors could cause actual results to differ materially from
those in the forward-looking statements including, but not limited to, the
volatility of oil and gas prices, the ability to implement corporate
strategies, the state of domestic capital markets, the ability to obtain
financing, changes in oil and gas acquisition and drilling programs, operating
risks, production rates, reserve estimates, changes in general economic
conditions and other factors more fully described from time to time in the
reports and filings made by Hesperian with securities regulatory authorities.
    %SEDAR: 00017183E

For further information:

For further information: Randal L. Oliver, CFA, Chairman and Portfolio
Manager, Hesperian Capital Management Ltd., (403) 531-2651,

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