CALGARY, Canada, March 31 /PRNewswire/ -- First Calgary Petroleums Ltd.'s ("FCP", "the Company", "First Calgary") management team and chairman of the Board, Gar Emerson, are currently on a three-country tour meeting with shareholders to discuss the progress made in bringing the company into first production in 2010, its strategic plans for growth, and highlighting the strength and expertise of the management team, led by President and CEO Mr. Richard Anderson.

First Calgary has also embarked on an advertising campaign designed to help communicate this message. The advertisements appeared on Saturday, March 29 and today, Monday, March 31, in the Vancouver Sun, Calgary Herald, Toronto Star, National Post and Globe and Mail.

First Calgary's management team is demonstrating a business plan that works. After 10 years in Algeria, gross proved plus probable (2P) reserves are 586 million barrels of oil equivalent on Block 405b. A management team with extensive international experience and in-depth knowledge of the Algerian oil and gas industry has been assembled and are integral in reaching first production on budget and on time within the next 30 months. This project is more time sensitive than it is cost sensitive.

"It is my belief that any change at the senior management level could significantly impact the MLE development process, creating delays in achieving first production which will, in turn, delay the potential shareholder value that this project can create," says Shane O'Leary, Chief Operating Officer, First Calgary Petroleums Ltd.

Mr. Mikhail Kroupeev, director of dissident shareholder group Waterford Finance and Investment Ltd., acknowledged in a Business News Network (BNN) interview on Thursday, March 28, 2008 that "the company has good assets and a good management team" and "(Algerians) like the management team."

Mr. Richard Anderson was also interviewed immediately following the interview with Mr. Kroupeev. Visit for the complete interview.

First Calgary is building on the strength of its current management and independent advisory team. Mr. Garfield Emerson, Q.C., a longtime director of some of Canada's largest companies and a recognized expert on corporate governance, will bring strategic leadership to the board as the newly appointed Chairman. In addition, First Calgary has also assembled a slate of nominees with an extensive breadth of experience in oil and gas project development, banking and finance, international business and foreign affairs. The nominated directors are independent of special shareholder interests and possess the necessary skills and knowledge critical to First Calgary and its shareholders.

First Calgary's slate of nominated directors, which has been endorsed by two leading independent proxy advisory firms - ISS/RiskMetrics and Glass Lewis - includes the Honourable Roy MacLaren, Stuart McDowall, David Savage and Kenneth Taylor to join Messrs. Richard Anderson, Gar Emerson, Shane O'Leary, Darryl Raymaker and John van der Welle to the Board for this upcoming meeting, as announced on March 10, 2008.

First Calgary's Board and senior management strongly encourage all shareholders to vote their BLUE proxy by April 4, 2008. An Annual and Special Meeting is scheduled for April 8, 2008.

Every vote is important and all shareholders' participation is needed to ensure that First Calgary Petroleums Ltd. can continue to implement its strategy on behalf of all shareholders.

Voting is a very quick and easy process. To be effective, shareholders' BLUE proxy must be received no later than 10:00 a.m. (MT) April 4, 2008, using any one of the methods described on the BLUE form of proxy. Due to the limited time available, we recommend voting by Internet, telephone or facsimile.

The First Calgary investor presentation, available for download at the Company's website (, is being shown to institutional and retail shareholder groups throughout Canada, the United States, and the United Kingdom.

First Calgary Petroleums Profile

First Calgary Petroleums Ltd. is an oil and gas 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).

Further information is also available on the First Calgary Petroleums website:

Forward-Looking Statements

This press release contains forward-looking statements based on assumptions considered reasonable at the time they were prepared. Any statements that are contained herein that are not statements of historical fact may be deemed to be forward-looking statements. These statements speak only to the conditions in existence as of the date of this press release, and the Fund maintains no obligation to update such statements.

Forward-looking statements, by their nature, necessarily involve risks and uncertainties that could cause actual results to differ materially from those contemplated by the statements. Such risks and uncertainties include, but are not limited to, risks associated with operations such as competition, dependence on the construction industry, supplies of raw materials, dependence on key personnel, labour relations, regulatory matters, environmental risks, the successful execution of acquisition and integration strategies, foreign exchange fluctuations, the effect of leverage and restrictive covenants in financing arrangements, product liability, the ability to obtain insurance, energy cost increases, the ability to fund necessary future capital investments, and changes in tax Legislation.

When used in the interview, words such as "believe," "estimate," "forecast," "anticipate," "expect," "project," and similar expressions are intended to identify forward looking statements. Such statements are subject to certain risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may differ significantly from those expected. You can find a discussion of those risks and uncertainties in our Canadian securities filings.

For further information: please contact First Calgary Petroleums Ltd.: Jeffrey P. Angel, Vice President Corporate Communications and Investor Relations, Tel: +1-403-264-6697; Other Contacts: James Henderson, Pelham Public Relations, Tel: +44(0)20-7743-6673; Carina Corbett, 4C - Burvale Limited, Tel: +44(0)20-7559-6710; Mandy Dinning, Hill & Knowlton Canada, Tel: +1-403-268-7858

For further information: please contact First Calgary Petroleums Ltd.: Jeffrey P. Angel, Vice President Corporate Communications and Investor Relations, Tel: +1-403-264-6697; Other Contacts: James Henderson, Pelham Public Relations, Tel: +44(0)20-7743-6673; Carina Corbett, 4C - Burvale Limited, Tel: +44(0)20-7559-6710; Mandy Dinning, Hill & Knowlton Canada, Tel: +1-403-268-7858