StarPoint Energy Ltd. and E3 Energy Inc. Announce Shareholder Approval on Trust Conversion and Mission Oil & Gas Inc.

Release Date: January 3, 2005
CALGARY, Jan. 4 /CNW/ – StarPoint Energy Ltd. (“StarPoint”) and E3 Energy Inc. (“E3”) are pleased to announce that both companies have received overwhelming shareholder approval at the special meeting held January 4, 2005 to approve the previously announced Plan of Arrangement (“Arrangement”) pursuant to which StarPoint and E3, after giving effect to the Arrangement, will be restructured into StarPoint Energy Trust and Mission Oil & Gas Inc. Shareholders of both StarPoint and E3 voted 99.97% and 99.99% respectively in favor of the arrangement resolution.

The Arrangement is subject to approval of the Court of Queen’s Bench of Alberta and other related matters including regulatory approvals and is anticipated to close on January 7, 2005.

THE TORONTO STOCK EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

/For further information: StarPoint Energy Ltd.: Paul Colborne, President and C.E.O., Telephone: (403) 268-7800, Fax: (403) 263-3388; Brett Herman, Vice President, Finance and C.F.O., Telephone: (403) 268-7800, Fax: (403) 263-3388; E3 Energy Inc.: Paul Starnino, President and C.E.O., Telephone: (403) 266-6747, Fax: (403) 266-6740; Dean Bernhard, Vice President, Finance and C.F.O., Telephone: (403) 266-6747, Fax: (403) 266-6740/

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