Supreme Court of Canada denies appeal challenging two Alberta Securities Act
provisions

CALGARY, July 16 /CNW/ - The Supreme Court of Canada has denied applications by Lambert "Bert" Lavallee and Dennis Morice seeking leave to further appeal a February 11, 2010 Alberta Court of Appeal decision. That decision dismissed appeals by Lavallee, Morice and Arbour Energy challenging a January 2009 Court of Queen's Bench judgment against the named parties.

The Alberta Court of Appeal judgment dismissed challenges by Lavallee, Morice and Arbour Energy to Securities Act (Alberta) provisions governing the conduct of ASC hearings as contravening the Canadian Charter of Rights and Freedoms.

The Alberta Court of Appeal decision called Lavallee v. Alberta (Securities Commission) is available on the Alberta Courts website at www.albertacourts.ab.ca.

The ASC is the regulatory agency responsible for administering the province's securities laws. It is entrusted to foster a fair and efficient capital market in Alberta and to protect investors. As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada's capital markets.

For further information: For Media Inquiries: Mark Dickey, Senior Communications Advisor, 403.297.4481; For Investor Inquiries: ASC Public Inquiries, Toll Free, 1.877.355.4488