ELE Elemental Altus Royalties Corp

Excelsior Energy Limited (TSX VENTURE:ELE) Excelsior Energy Ltd ("Excelsior"),
announced today that has selected Paradigm(TM), a leading provider of enterprise
software solutions to the global oil and natural gas exploration and production
(E&P) industry to provide consulting services for development of its Canadian
oil sands program. Excelsior, an early stage oil sands exploration and
development company, has chosen Paradigm Strategic Consulting ("Paradigm") to
accelerate development planning at its Hangingstone oil sands resource property
in the Athabasca oil sands region of Alberta. The announcement was made at the
2008 Association of American Petroleum Geologists (AAPG) Annual Conference and
Exhibition in San Antonio, Texas.


Paradigm will provide seismic processing, reservoir characterization, and
resource and uncertainty assessment solutions to Excelsior for its Steam
Assisted Gravity Drainage (SAGD) projects. Paradigm technologies will be used in
the delineation of the stratigraphically complex oil sands reservoirs of the
McMurray Formation. These will include Paradigm GOCAD(R), a software solution
for geological modeling and uncertainty assessment, and Paradigm CRAM(R), a new
application for depth migration seismic processing, among others. 


Excelsior has completed a 26 core well program at Hangingstone and delineated
areas of high quality, homogeneous bitumen sands. The McMurray Formation has
been cored and evaluated with a full suite of logs to confirm reservoir
thickness and quality. 


"Paradigm's technology and oil sands expertise will allow us to integrate all of
our log, core and seismic data, characterize the reservoir and build an
integrated resource model" said David Winter, president and CEO of Excelsior
Energy. "Paradigm has extensive experience within the Hangingstone area, and
combined with its portfolio of advanced applications, will assist us in choosing
the optimal development options, and accelerate development plans for a SAGD
pilot project". 


"The Alberta oil sands are an extremely important resource, and Paradigm is
looking forward to working with Excelsior in the development of its oil sands
resources," said Jorge Machnizh, Paradigm's president and chief operating
officer. "Paradigm Strategic Consulting will assist in the integration of
petrophysical, geophysical and geological data in order to create an accurate
reservoir model, allowing Excelsior to mitigate delineation and development risk
and optimize the planning for its SAGD pilot project at Hangingstone."


"The oil sands continue to be a basis for significant investment and activity
within our industry and is an area of critical focus for Paradigm Canada," said
Mike Miller, Paradigm Canada's regional vice president. "We have invested in a
dedicated oil sands group, with full access to our entire technology portfolio
and strategic consulting services, and have been working closely with many of
the major players in the development of the oil sands. We are delighted that
Excelsior Energy has chosen Paradigm's technology and services to further
advance its oil sands resource play."


About Excelsior Energy

Excelsior is active in oil sands exploration and appraisal in the Hangingstone
and West Surmont areas near Fort McMurray, Alberta and will hold a 75% working
interest in 58 contiguous sections on completion of its farm-in obligations. The
Company also indirectly holds a 100% working interest in Blocks 16/1a and 16/6c
in the UK North Sea and a minor interest in gas production in Alberta.
Excelsior's strategy is to capture oil and gas appraisal and development
opportunities where we can leverage Management's diverse international
experience and field development expertise. This includes heavy oil reservoir
engineering and development of complex fields. 


About Paradigm(TM)

Paradigm B.V. (www.pdgm.com), an industry leader in digital subsurface asset
management, helps global oil and gas companies locate new reserves and optimize
production in complex geological areas. Paradigm's technology advances the
science of hydrocarbon detection with solutions in seismic data processing and
subsurface imaging, prospect interpretation and modeling, reservoir
characterization, and well planning and drilling. These exploration and
production solutions operate in an open environment with connectivity to
third-party data stores to accelerate project creation and turnaround. Paradigm
has a global network of sales, services and user support, serving major oil and
gas producing regions around the world. For more information on Paradigm
products and services, contact your regional office directly (find information
at www.pdgm.com), or e-mail info@pdgm.com. 


The following are trademarks or registered trademarks of Paradigm B.V. or of its
affiliates (collectively, "Paradigm"): Paradigm(TM), Paradigm logo and/or other
Paradigm products referenced herein. All other trademarks are owned by their
respective owners. 


Forward-Looking Statements: This news release contains statements about future
events that are forward looking in nature and, as a result, are subject to
certain risks and uncertainties such as changes in plans or the occurrence of
unexpected events. Actual results may differ from the estimates provided by
management. Readers are cautioned not to place undue reliance on these
statements.

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