Compton Petroleum Corporation will be announcing its plans for 2008, including budgeted expenditures, drilling programs and projected production targets for the year, in early January 2008.

On December 14, 2007, a significant shareholder representing 19.8% of the shares outstanding, made a regulatory filing in the United States which included, among other topics, a statement that in its view Compton’s common shares are trading at a significant discount to the shareholder’s perception of the Company’s net asset value, and a request of Compton’s Board of Directors to consider strategic alternatives to bridge this gap. The Board will, on behalf of all shareholders, fully consider this filing.

The current business environment for Compton and the Canadian natural gas industry at large is challenging to say the least. Our current share price reflects the depressed state of the natural gas industry, particularly in Alberta, resulting from (a) low natural gas prices, (b) the rapid appreciation of the Canadian dollar, (c) the high cost structure of the basin, and (d) regulatory issues including uncertainties relating to the proposed new Crown royalty structure in Alberta. Given these cyclical bearish factors and the upcoming release of our 2007 year end reserve
report and audited financial statements, the Board and Management are puzzled by the shareholder’s request and particularly with its timing.

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