Re: ARC Energy Venture Fund 4's Holdings in Norex Exploration Services Inc.

    CALGARY, May 15 /CNW/ - ARC Energy Venture Fund 4 ("ARC") of Calgary
Alberta announced that as a result of the closing of the previously announced
private placement by Norex Services Inc. ("Norex"), ARC acquired 12,000,000
common shares of Norex at a price of $0.25 per common share, representing
approximately 22.3% of the outstanding Norex common shares. As a result, ARC
now exercises control or direction over an aggregate of 32,268,657 common
shares of Norex, representing approximately 60.0% of the outstanding Norex
common shares.

    ARC Energy Venture Fund 4 is an investment fund specializing in the
energy sector and which is managed by ARC Equity Management (Fund 4) Ltd.,
part of the ARC Financial group of companies. Although ARC Energy Venture Fund
4 may make further purchases of common shares of Norex on the Toronto Stock
Exchange or through private purchases, such purchases will be made for
investment purposes.
    This press release has been issued in order to comply with applicable
securities legislation.

For further information:

For further information: or a copy of the securities report contact: ARC
Equity Management (Fund 4) Ltd., 4300, 400 - 3rd Avenue S.W., Calgary,
Alberta, Telephone: (403) 292-0680, Fax: (403) 292-0579

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