NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES


Paris Energy Inc. ("Paris" or the "Company")(TSX VENTURE:PI) is pleased to
announce its financial and operating results for the first three months ended
February 29, 2008.


Financial

During the first quarter of 2008 the Company completed and began to tie in wells
drilled late in the fourth quarter of 2007. In the first quarter of 2008 the
Company had two wells on production at Rimbey and Killam. Revenues, with the
assistance of strong commodity prices, have been increasing monthly. Revenues
for the first quarter increased to $28,642 from $15,416 in the fourth quarter of
2007. Expenditures on oil and natural gas prospects during the first quarter of
2008 totaled $832,129 and were primarily tie-in and equipment costs at Killam.
The Company ended the first quarter of 2008 with working capital of $654,389
compared to a year end working capital of $1,559,837.




Financial Highlights

                                            Three months ended February 29
(unaudited)                                    2008                   2007
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Financial
 Total revenue                          $    50,872       $        411,779
  Cash flow from (used for) operations      (77,238)               (49,627)
   per share, basic and diluted               (0.01)                     -
  Net income (loss)                         (91,438)               425,175
   per share, basic and diluted               (0.01)                  0.04
  Capital expenditures                      832,129                346,387
  Working capital surplus (deficiency)  $   654,389       $     (1,216,357)
 Total shares outstanding                 9,552,347              9,552,347
Operations
 Production
  Natural gas (Mcf/d)                            17                    490
  Crude oil (Bbl/d)                               2                     13
  NGL (Bbl/d)                                     1                      1
  BOEd (6 Mcf = 1 Bbl)                            5                     96
 Product Prices
  Natural gas ($/Mcf)                   $      7.61       $           7.11
  Oil ($/Bbl)                           $     88.26       $          58.52
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Exploration and Development Activities

Paris holds an undivided 71.43% working interest in 600 acres in Killam,
Alberta, and in March 2008 has tied-in a producing gas and oil well in February,
2008. The Company owns a non-convertible royalty on a producing well on the
remaining 40 acres of the section. This well was producing both oil and gas but
is currently shut-in. Discussions with the operator of this well are taking
place at the present time and when the spacing unit issues are resolved the
Company may drill another well for gas and/or oil production in fiscal 2008.


In Enchant, Paris drilled and completed the 7-30 well in December, 2007. During
the first quarter, the Company equipped the well and placed this natural gas
well on production in March 2008. Paris has reviewed seismic over the land and
expects to select a second natural gas location based on seismic and information
from the first well.


In Craigmyle, the first well at 16-2 was drilled in fiscal 2007 and completed
during the first quarter of 2008. It is expected to be on production in May
2008. The Company subsequently acquired five sections of land in the area at the
March land sale. Paris plans to shoot and/or acquire seismic over the lands
before drilling additional wells in the area.


Management Changes

Paris also wishes to announce that John G.F. McLeod has been appointed President
and Chief Executive Officer of the Company. Mr. McLeod is a professional
engineer and has over 30 years of technical and management experience in the
upstream oil and gas industry, both domestic and international. John holds a BSc
in Mechanical Engineering from the University of New Brunswick and is a member
of APEGGA.


The Board is confident that Mr. McLeod has the experience, technical ability and
skills required to grow Paris in these challenging times for an emerging
company.


The Board has accepted the resignation of M. Elizabeth Burke-Gaffney as
President and as a Director of the Company, and Clifford Jeffrey as
Vice-President of Exploration and a Director of Paris. Mr. Jeffrey has agreed to
advise the Company as a consultant in the future.


Outlook

The Company is undertaking a private placement financing of up to 10,000,000
shares at $0.20 per share for gross proceeds of $2.0 million. This funding, if
successful, will allow the Company to carry out its 2008 exploration and
development program. The Company anticipates a positive working capital position
at the end of its fiscal 2008 period.


With increasing commodity prices, increased Company production and the funds
from the private placement the Company is well positioned financially to take
advantage of opportunities as they are identified. Competition for undeveloped
land has decreased such that Paris has been successful in assembling over 12,000
net acres on which the Company has an inventory of prospects in varying stages
of development. Crude oil prices have been buoyed by global demand and political
unrest and natural gas prices seem poised to follow this trend. Despite the
challenges of a small producer, we remain optimistic that market conditions will
reward hard work and persistence.


We wish to thank our shareholders, our employees and consultant for their
continuing support. We look forward to reporting positive news as the Company's
level of activity increases during the remainder of 2008.


Forward Looking Statements

Certain statements contained in this press release constitute forward-looking
statements. The use of any of the words "anticipate", "continue", "estimate",
"expect", "may", "will", "project", "should", "believe" and "confident" and
similar expressions are intended to identify forward-looking statements. These
statements involve known and unknown risks, uncertainties and other factors that
may cause actual results or events to differ materially from those anticipated
in such forward-looking statements.


Paris believes that the expectations reflected in those forward-looking
statements are reasonable but no assurance can be given that these expectations
will prove to be correct and such forward-looking statements included in this
press release should not be unduly relied upon. These statements speak only as
of the date of this press release. Paris undertakes no obligation to publicly
update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise, except as expressly required by
applicable securities laws.


Further information relating to Paris may be found on www.sedar.com