Progress Energy to Present at BMO Capital Markets 2009 North American Unconventional Gas Conference

    CALGARY, Jan. 12 /CNW/ - (TSX - PGX.UN) Progress Energy ("Progress" or
"Company") today announced that it will be presenting at the BMO Capital
Markets 2009 North American Unconventional Gas Conference in New York. Mr.
Daniel Topolinsky, Senior Vice President, Exploration of Progress, will
present at 8:30 a.m. on Tuesday, January 13, 2009 (EST).
    Interested investors may access the audio webcast of the presentation at
lt.aspx and can access a copy of the presentation slides at Progress' website

    Progress is a Calgary based, natural gas focused company. On November 17,
2008, Progress announced a planned business combination with ProEx Energy Ltd.
The special meetings of the securityholders of Progress Trust and ProEx are
scheduled for Wednesday, January 14, 2009.

    Forward Looking Statements - Certain information regarding Progress set
forth in this document, including management's assessment of Progress's future
plans and operations, contains forward-looking statements that involve
substantial known and unknown risks and uncertainties. These forward-looking
statements are subject to numerous risks and uncertainties, certain of which
are beyond Progress's control, including the impact of general economic
conditions, industry conditions, volatility of commodity prices, currency
fluctuations, imprecision of reserve estimates, environmental risks,
competition from other producers, the lack of availability of qualified
personnel or management, stock market volatility and ability to access
sufficient capital from internal and external sources. Progress's actual
results, performance or achievement could differ materially from those
expressed in, or implied by, these forward-looking statements and,
accordingly, no assurance can be given that any of events anticipated by the
forward-looking statements will transpire or occur, or if any of them do so,
what benefits that Progress will derive therefrom.

    %SEDAR: 00020979E

For further information:

For further information: Greg Kist, Vice President, Investor Relations
and Marketing, Phone: (403) 539-1809, Fax: (403) 216-2514, Email, Web:

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