Communicators

Park Place et al Announces Completion Plans For The Morgan Highpoint Project

Calgary, Alberta, May 8, 2008: Park Place Energy Corp. (“Park Place” or “the Corporation”) is pleased to announce that the Operator of the Morgan Highpoint Project, Montello Resources Ltd. (TSX Venture Exchange symbol “MEO”) has conducted an extended production test on the Morgan Highpoint #3 Well after resolving a number of common operational start-up issues. In less than 10 full days of production the Operator has recovered in excess of 800 barrels of light sweet high gravity oil from the 6.25 inch well bore. After analyzing the logs, including the Weatherford Fracture Imaging Log that was run on the Morgan Highpoint #5 Well and geological data recently obtained from the 5 wells recently drilled or logged, along with the extended production test on the Morgan Highpoint #5 Well, the Operator has now confirmed the presence of an extensive fracture network which explains why the daily production rate in the Morgan Highpoint #3 Well has sharply declined to approximately 15 barrels of oil per day which mirrors the decline rates recorded on other wells drilled to a similar depth in the southern portion of the Appalachians. After conferring with a number of service companies specializing in unique completion techniques the Operator has obtained approval from its partners including Park Place to proceed with a completion program that has been designed with the goal to exponentially increase daily production rates as well as significantly improve the ultimate recovery rates that are typically achieved from wells in the area. For competitive reasons Park Place and its partners will not be disclosing how the wells will be completed. The Operator has further advised the Corporation that logistics are now being finalized to mobilize specialized equipment from Canada and the United States to perform the contemplated completion programs which are anticipated to commence within the next four to six weeks.

Park Place is further pleased to announce that plans are underway to finalize the surface location from which the Morgan Highpoint #6 Well will be drilled. Park Place and its partners now have approximately 1,500 acres of land tied up. Without acquiring any additional mineral leases, if the scheduled completion programs are as successful as contemplated Park Place as to a 5% participating interest and its partners are positioned to conduct a multi-well drilling program consisting of over 20 shallow oil wells and 2 additional deep gas wells. Based on the knowledge and understanding that Park Place and its partners now have of both the shallow oil play and the deep gas play recently identified in the John Bowen #2 Well, the Morgan Highpoint partners are now aggressively pursuing acquiring additional mineral leases and drilling / re-completion opportunities in Morgan County, Tennessee.

About Park Place

Park Place is a diversified resource company that is participating in high impact international resource opportunities. The Corporation is currently developing its North American oil and gas assets as well as advancing its BrasAm Diamond Project in Central Brazil. Park Place’s management are focused on optimizing profitability and enhancing shareholder value.

For Further Information Contact:

Investor Relations: 1 (877) 685 0076
Email: info@parkplaceenergy.com
Website: www.parkplaceenergy.com

Calgary Head Office:
Suite 300, 840 – 6th Avenue S.W.
Calgary, Alberta, Canada, T2P 3E5

Certain information regarding the Corporation contained herein may constitute forward-looking statements. These statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although Park Place believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. These statements are subject to certain risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied. The Corporation is under no obligation to update or alter any forward-looking statement. These risks include operational and geological risks, the ability of the Corporation to raise necessary funds for exploration and the fact that the Corporation does not operate all its properties. Park Place’s forward-looking statements are expressly qualified in their entirety by this cautionary statement.