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Drake Pacific Enterprises Ltd. is active in oil and gas exploration and development throughout Alberta. Headquartered in Calgary, Alberta, Canada, the company is publicly traded on the Toronto Stock Exchange Venture Board under the stock symbol DPE.V.

The company commenced operations in January 1994, founded by a veteran of the Alberta oil patch, Dallas E. Hawkins. After Mr. Hawkins' untimely passing, Roger Penner took over as president in January 2001, bringing more than twenty years of experience as a geologist in the Western Canadian Sedimentary Basin.

In early 2007, Drake sought new energy and vision to help drive the company toward its next level of growth. With the addition of the new Vice President – Operations and Business Development and our recently expanded board (see Bios), new ideas and strategies have been adopted which are starting to pay dividends. With their help, an aggressive program of acquisitions, exploration and development will contribute to an ever-strengthening base and provide the fuel for the next level of growth.

Over the summer of 2007, Drake succeeded in consolidating its operating and prospecting activities in Alberta, including the highly prospective Sousa project in Northern Alberta. We believe that our technical and operating familiarity in these areas as well as the anticipated high rates of return on investment that have been identified will allow us to continue setting aggressive company targets.

We operate most of our properties. Our current production base is approximately 50:50 oil and gas, but with our portfolio of opportunities, we intend to exploit oil prospects to achieve a more attractive production mix of 65% oil and 35% gas.