TIM Granger appointed managing director of TAQA North

Tim Granger, who will join TAQA's global leadership team with responsibility for the management of the company's current operations and future growth strategy in Canada and the United States, assumes his new role following the announced retirement of Don Garner, the subsidiary's current Chief Executive Officer.

Garner will act as senior advisor to Granger until June, providing continuing support as TAQA North completes the successful integration of its most recent acquisition, PrimeWest Energy Trust, into TAQA North.

After June, Garner will continue his relationship with TAQA by taking up the role of Advisory Board Member.

TAQA CEO, Peter Barker-Homek said:

"I am delighted that Tim Granger is taking on this important leadership role. Canada and the USA are crucial markets for TAQA and will play a major role in our global ambitions to be a leading integrated energy company. Tim's experience and expertise, formed over almost 30 years in the energy sector, will be critical in helping us to capitalise on new and diverse development opportunities".

"His appointment is reflective of the wealth of talented people that have joined TAQA through our acquisitions. It is these people, drawn from diverse operations in Canada and across the world, that make TAQA a truly global company and our focus on building a genuine meritocracy will ensure that all our people can reach their full potential and help TAQA to do the same. Tim's appointment confirms TAQA's philosophy of "promote from within."

Commenting on the retirement of Garner, Barker-Homek continued:

"I wish to take this opportunity to thank Don for his commitment and support. Together with Tim, they have done much already to ensure the smooth and successful integration of PrimeWest into TAQA North. This task continues to be a priority and I am delighted that Don will act as a senior advisor to Tim until June this year and then continue with TAQA as an Advisory Board Member".

Tim Granger has 27 years experience in exploration, production and asset management. He joined PrimeWest in June 1999 and held overall responsibility for Development and Production Operations.

Prior to this, Tim has undertaken a variety of management roles at Pogo Canada Ltd, Petro-Canada and Amerada Hess Canada Ltd, in addition to engineering positions at Dynex Petroleum Ltd., Canterra Energy Ltd. and Dome Petroleum Limited.

TAQA North

TAQA North now boasts P+P reserves in excess of 461 MMBOE and current production of over 101,000 boa/d, making it one of the top ten companies in Canada in terms of net proven natural gas reserves and in the top 12 companies in terms of oil and gas production.

The company's 2008 development program consists of a capital expenditure commitment of C$500 million, targeting reserve replacement of approximately 116%.