Overlord announces 2006 year end results

    CALGARY, April 19 /CNW/ - Overlord Financial Inc. (the "Company")
announces its filing of the Annual Audited Consolidated Financial Statements
for the year ended December 31, 2006 and related Management Discussion and
Analysis with Canadian Securities Regulatory Authorities. The Company is
listed on the TSX Venture Exchange under the ticker symbol OFI.
    The Company experienced an active year with its first oil and gas
flow-through fund, Catapult Energy Small Cap FTS Limited Partnership, a
limited partnership managed by Catapult Energy 2006 Inc. ("Catapult 2006")
closing on October 31, 2006. The Company also began a new line of business
through Aston Hill Financial Ltd. ("Aston Hill") which focuses on investments
in dividend paying common shares, income trusts and other yield vehicles.
    The Company recorded a net loss for the year 2006 of $1,478,748 compared
to a net loss of $230,612 for 2005. Revenues representing management fees
totaled $353,809 and expenses for the year totaled $2,950,500 of which
$516,180 was related to non-cash expense items. Investing activities of the
Company resulted in income of $1,117,943 for the year.
    Subsequent to year end, Aston Hill signed an Advisory Agreement with
Arrow Hedge Partners Inc. ("Arrow Hedge"). Aston Hill will provide portfolio
advisory services to Arrow Hedge on its new fund, Arrow Canadian Income Fund.
The investment objective of Arrow Canadian Income Fund is to achieve a high
level of income and potential capital gains with an attractive risk-adjusted
return with moderate volatility.
    Also, subsequent to year end, the Company incorporated Catapult Energy
2007 Inc. ("Catapult 2007") to act as the general partner of the Catapult
Energy Small Cap FTS Limited Partnership 2007 (the "Partnership"). Catapult
2007 is responsible for developing and implementing all aspects of the
communications, marketing and distribution strategies for the Partnership and
will manage its ongoing business and administrative affairs. Catapult
Financial Management Inc., a wholly owned subsidiary of the Company, will be
retained by Catapult 2007 to advise on the management of the investments in
flow-through shares of private and public junior resource issuers for the
Partnership. The Partnership is scheduled to close its initial public offering
in the second quarter of 2007.
    Copies of the Annual Audited Consolidated Financial Statements and
Management Discussion and Analysis may be obtained via www.sedar.com or by
emailing info@overlordfinancial.com.

    Overlord Financial Inc. is an investment manager with expertise in the
junior oil and gas sector, energy-based trusts, oil and gas property
management, private equity and high-yield structured products.

    The TSX Venture Exchange has neither approved nor disapproved the
    information contained herein.

For further information:

For further information: Eric Tremblay, Chief Executive Officer,
Overlord Financial Inc., (403) 770-4805; Larry Titley, Vice President and CFO,
Overlord Financial Inc., (403) 770-4808

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