News Release: Paramount Resources Ltd. Completes Previously

News Release: Paramount Resources Ltd. Completes Previously Announced
Flow-Through Share Offering 
CALGARY, ALBERTA -- (Marketwire) -- 10/02/12 -- Paramount Resources
Ltd. (TSX:POU) ("Paramount" or the "Company") has completed its
previously announced public offering of "flow-through" common shares
for gross proceeds of $70,037,400. The proceeds will be used by
Paramount to incur eligible Canadian exploration expenses and
eligible Canadian development expenses. The shares were sold through
a syndicate of underwriters led by BMO Capital Markets. 
Paramount is a Canadian oil and natural gas exploration, development
and production company with operations focused in Western Canada.
Paramount's common shares are listed on the Toronto Stock Exchange
under the symbol "POU". 
Advisory Regarding Forward-Looking Statements 
This news release contains a forward-looking statement pertaining to
the use of proceeds from the public offering. Although Paramount
believes that the expectations reflected in such forward looking
statement are reasonable, undue reliance should not be placed on it
as Paramount cannot give any assurance that such expectations will
prove to be correct. The forward-looking statement in this news
release is made as of the date hereof and, except as required by
applicable securities law, Paramount undertakes no obligation to
update publicly or revise such statement, whether as a result of new
information, future events or otherwise.
Paramount Resources Ltd.
J.H.T. (Jim) Riddell
President and Chief Operating Officer
(403) 290-3600 
Paramount Resources Ltd.
B.K. (Bernie) Lee
Chief Financial Officer
(403) 290-3600 
Paramount Resources Ltd.
4700 Bankers Hall West
888 3rd Street S.W.
Calgary, Alberta  T2P 5C5
(403) 290-3600
Fax: (403) 262-7994
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