Osprey welcomes Dempsey and Jensen to its nest                            

Osprey Energy Ltd                                     OEL
Shares issued 5,334,288                                   Jul 5 close
$0.80 Thu 6 Jul 2000                                     News Release Mr.
R. Gary Malone reports Mark Dempsey has been appointed to the board of
directors  of  the  company and  Peter Jensen has been appointed as
corporate secretary. Mr. Dempsey is a senior partner in one of the largest
and  most  respected  law  firms  in southern  Nova  Scotia.  Mr. Jensen
is a senior partner in a well-respected law firm specializing in
securities  law,  in  Vancouver,  B.C.  The  board welcomes the depth of
experience these gentlemen will add to the company in their respective
roles. W. G. New II has resigned as a director of the company and of Greg
Muzzatti has resigned as corporate secretary. Subject to regulatory
approval, the company is granting  434,000  corporate stock  options, 
exercisable  at  $1  per  share,  for  a  12-month period. Shareholder
approval for the option grant was  obtained  at  the  company's annual
general meeting in December of 1999. In other matters, the company has
received final approval from the Canadian Venture  Exchange  for  the 
$1.5-million  convertible  debenture  and  the $850,000 private placement,
as previously announced. It has  also  received approval  to  proceed 
with  the acquisition of the working interest in the Bayou Choctaw project
and conditional approval on  the  northern  Louisiana acquisition. (c)
Copyright 2000 Canjex Publishing Ltd. <a href="<a href="http://www.canada-stockwatch.com"" target="_blank">http://www.canada-stockwatch.com"</a> target="_blank"><a href="http://www.canada-stockwatch.com" target="_blank">http://www.canada-stockwatch.com</a></a>