Chase Energy Canada Limited

NOVA/TransCanada Alberta System information as of 5:30 A.M.: Linepack = 14783 which is 52 mmcf ABOVE the Linepack Target of 14731 mmcf. The ROC for the past 24 hours is -95 mmcf. The Eastern Borders (Empress and McNeil) collectively is showing a change in flow from yesterday by -29 mmcf flowing at 4651 mmcf. ABC shows a change by -31 mmcf flowing at 2277 mmcf. The Storage facilities collective rates are currently showing a net INJECTION = 612 mmcf/d (“Negative”…reflects a WITHDRAWAL from storage onto the system) which is a 434 mmcf NET INCREASE in the flow rate from yesterday’s gas day.

Genesee#2 went offline at 13:26 and back online at 17:59; Sheerness#2 came back online at 16:36…Royal Dutch Shell is beginning a major maintenance shutdown at its 155,000 barrel per day Scotford oil sands upgrader in northern Alberta – the first major turnaround for the facility, northeast of Edmonton, in four years, would last into the second quarter of the year…Epcor Utilities posted a $27 million profit for the fourth quarter of 2009 on Friday for a total of $125 million on the year. Revenues were $2.4 billion…Five public companies, Finavera Renewables Inc. – Capital Power Corp.- Innergex Renewable Energy Inc. – Plutonic Power Corp. and Swift Power Corp, have emerged as winners in the first stage of BC’s clean power call” that selected green energy projects to supply the province’s future energy needs. Late last week, BC Hydro announced 19 projects that will get power purchase agreements – five wind farms and the rest run-of-river hydro projects. Among the 10 firms that won contracts, half are traded on either the main TSX or the TSX Venture Exchange. The province intends to sign power purchase agreements for about 5,000 gigawatt hours of clean power in total, and last week’s selection amounts to just about half of that…Manulife Financial today announced the completion of a $194.5 million financing with Boralex Inc. for the construction and long term operation of a portfolio of nine 10 MW wind farms in south-western Ontario…First Solar, Inc. announced a power purchase agreement to supply Pacific Gas and Electric Company with renewable electricity from a 300 megawatt (AC) utility-scale photovoltaic solar power facility that First Solar is developing in Southern California. The Desert Sunlight project, to be located near Desert Center in eastern Riverside County, Calif., will have a total capacity of 550 megawatts.

NOVA/TransCanada Alberta System Linepack: for Friday =14695, Saturday = 14790 and Sunday = 14902 which is 171 mmcf ABOVE the Linepack Target of 14731. The ROC for the past 24 hours was = +160 mmcf. The Eastern Borders (Empress and McNeil) collectively for the term flowed as follows…… Friday = 4693, Saturday = 4590 and Sunday = 4685 mmcf.  ABC flow for the term ….. Friday = 2336, Saturday = 2322 and Sunday = 2296 mmcf. Storage flow for the term starting with Friday shows a net INJECTION = 318, Saturday net INJECTION = 278 and Sunday net INJECTION = 178 mmcf (“Negative”… reflects a WITHDRAWAL from storage onto the system) which is a 100 mmcf NET DECREASE in the flow rate from yesterday’s gas day.

Alberta NIT SPOT Prices for: Friday = $3.95, Saturday = $3.795 and Sunday = $3.85 which is a DECREASE of $0.10 from the last business trading day (Friday) Spot Settlement Price.

Wabamun#4 came back online at 18:57 Friday…Hind High Vacuum, a Bangalore-based vacuum technology player, has set up a fully automated thin-film solar photovoltaic module production line with a capacity of 10 megawatt a year. The company has also formed a joint venture with Solar Source Corporation (SSC), a Canadian renewable energy holding company, to establish Canada’s first thin-film amorphous silicon solar panel manufacturing plant. The technology and equipment will be supplied by HHV. Because of its low capital cost, HHV’s line, which is a result of a decade-long research, can deliver modules at as low as $1.2 per watt and is nearly competitive with coal-fired electricity. The global SPV market is divided into systems based on silicon crystal and those on thin films. To be located at Prince Edward Island near Canada’s eastern seaboard, the plant will have an annual capacity of 120 mw, to be established in four phases, with 30 mw coming up in the phase one. The plant will make panels for the building-integrated, ground-mount and commercial rooftop markets…British Columbia has given the green light to 19 private-sector clean energy projects that will generate enough power to supply nearly 218,000 homes in Canada’s Pacific Coast province. The approvals, announced late on Thursday by BC Hydro, the government-owned electricity utility, mark the first phase in the provincial government’s long-delayed push to generate more green power.

NOVA/TransCanada Alberta System information as of 5:30 A.M.: Linepack = 14678 which is 53 mmcf BELOW the Linepack Target of 14731 mmcf. The ROC for the past 24 hours is -70 mmcf. The Eastern Borders (Empress and McNeil) collectively is showing a change in flow from yesterday by -13 mmcf flowing at 4622 mmcf. ABC shows a change by -89 mmcf flowing at 2423 mmcf. The Storage facilities collective rates are currently showing a net INJECTION = 150 mmcf/d (“Negative”…reflects a WITHDRAWAL from storage onto the system) which is a 327 mmcf NET CHANGE in rate from yesterday’s gas day rate.

Wabamun#4 went offline at 23:23…IPPSA’s annual conference “Gimme Shelter: emissions, economics and other brewing storms” runs next Monday and Tuesday in Banff.  For more information, go to www.ippsa.com…The Stelmach government announced Thursday it is sharply reducing royalties paid on conventional oil and natural gas that could potentially cost the government hundreds of millions of dollars in lost revenues…The Obama administration is spending eight times more per person on new renewable energy, public transit and energy efficiency measures than Prime Minister Stephen Harper’s government according to the Pembina Institute…Vermont’s two largest electric utilities and mega-power producer Hydro-Quebec signed an agreement Thursday that is expected to lead to a 26-year contract for the annual purchase of 225 megawatts of electricity. Green Mountain Power Corp., Central Vermont Public Service and Hydro-Quebec have committed in a memorandum of understanding to negotiate the final terms of the contract by June 30. The contract would take effect in 2012 and run to 2038. The price for the power remained confidential, but in a joint statement, GMP and CVPS said, “The contract will tend to keep Vermont’s purchases near the middle of the market…BC Hydro says it will award long-term electricity purchase agreements (EPAs) covering four wind projects totaling 293 megawatts of combined nameplate capacity that Finavera Renewables has proposed for British Columbia Province in Canada and have an estimated capital cost of C$800m.

NOVA/TransCanada Alberta System information as of 5:30 A.M.: Linepack = 14798 which is 67 mmcf ABOVE the Linepack Target of 14731 mmcf. The ROC for the past 24 hours is +36 mmcf. The Eastern Borders (Empress and McNeil) collectively is showing a change in flow from yesterday by +104 mmcf flowing at 4635 mmcf. ABC shows a change by +479 mmcf flowing at 2512 mmcf. The Storage facilities collective rates are currently showing a net WITHDRAWAL = -177 mmcf/d (“Negative”…reflects a WITHDRAWAL from storage onto the system) which is a 97 mmcf NET INCREASE in WITHDRAWAL rate from yesterday’s gas day rate.

The government of Alberta had its highest land sale of the year on Wednesday, attracting $167.6 million in bonus bids although the total was far less than the $1 billion some analysts had hoped for…Oil prices settled higher Wednesday in choppy trading after a government report showed that gasoline stocks in the United States dropped unexpectedly. Given the fact that we are heading into the driving season, a drop in gasoline supplies will drive bullish sentiment. Couple that with the dollar starting to weaken again and equities rallying and we wouldn’t be surprised to see crude oil break out of this $80 level and march towards the $90 level in the coming months. Distillate stocks, which include heating oil and diesel, fell by 2.2 million barrels, far more than the 900,000 barrel draw predicted by the market. A report showing that China’s imports of crude oil in February rose to the second highest level on record on a daily basis was also supportive for oil prices…A consortium of companies announced plans today to develop a plant in the Las Vegas area that would employ about 1,000 people for manufacturing wind turbines. Once up and running, the 320,000-square-foot plant would be one of the largest manufacturing employers in Southern Nevada and would build upon an already fast-growing local renewable energy industry that so far has focused on solar power.

NOVA/TransCanada Alberta System information as of 5:30 A.M.: Linepack = 14778 which is 48 mmcf ABOVE the Linepack Target of 14731 mmcf. The ROC for the past 24 hours is +183 mmcf. The Eastern Borders (Empress and McNeil) collectively is showing a change in flow from yesterday by -64 mmcf flowing at 4531 mmcf. ABC shows a change by +156 mmcf flowing at 2189 mmcf. The Storage facilities collective rates are currently showing a net WITHDRAWAL = -206 mmcf/d (“Negative”…reflects a WITHDRAWAL from storage onto the system) which is a 126 mmcf NET INCREASE in the flow rate from yesterday’s gas day rate.