Patch International Inc. is an oil sands company actively engaged in the exploration and development of in situ oil sands located in the province of Alberta. Patch’s lands are located in the heart of the world renowned Athabasca oil sands, northeast of Fort McMurray, Alberta. The resource basin contained within is bitumen rich, high quality and proven economic to produce.

On January 22, 2008, Patch International Inc. announced that the board of directors had unanimously approved a process to review strategic alternatives to maximize shareholder value. These alternatives may include the sale of the company, merger, reorganization or such other alternatives that are considered to be in the best interest of Patch shareholders. The marketing process is anticipated to commence in February, 2008. Patch has retained CIBC World Markets Inc. as their exclusive financial advisor to seek proposals. An overview of Patch and confidentiality agreement is posted on the CIBC World Markets Inc. website at http://www.cibcwm.com/wm/industry-expertise/oil-gas/offerings/index.html.