FPL First Calgary

    Dealing by Director

    TSX: FCP
    LSE: FPL

    CALGARY, Jan. 17 /CNW/ - First Calgary Petroleums Ltd. (the "Company")
announces that 200,000 common shares were issued by the Company pursuant to
the exercise of stock options by Mr. Alastair Beardsall, a non-executive
director of the Company. The stock options, which were otherwise expiring
later this month, were exercised at $0.82 (Cdn.) per share on January 16,
2007. Mr. Beardsall now holds 200,000 common shares and 350,000 stock options.

    First Calgary Petroleums Ltd. is an oil and gas exploration company
actively engaged in international exploration and development activities in
Algeria. The Company's common shares trade on the Toronto Stock Exchange in
Canada (FCP) and on the AIM market of the London Stock Exchange in the UK
(FPL).
    This press release is being issued in compliance with the rules of the
AIM market of the London Stock Exchange.


For further information: First Calgary Petroleums Ltd.: Richard G. Anderson,
President and CEO, Tel: (403) 264-6697; John van der Welle, Finance Director
and CFO, Tel: +44 (0) 203 043 0270; Other contact: David Nabarro, Nabarro
Wells & Co. Limited, Tel + 44 (0) 207 710 7400/
(FCP. FPL)



END

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