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Caribou Resources Corp.

Calgary, January 31, 2007 — Caribou Resources Corp. (“Caribou” or the “Company”) made a voluntary filing under the Companies’ Creditors Arrangement Act (“CCAA”) and obtained an Order (the “CCAA Order”) from the Court of Queen’s Bench Alberta Judicial District of Calgary (the “Court”). The CCAA Order provides for a stay period commencing on January 30, 2007 (the “Stay Period”). All creditor claims (e.g. accounts payable) and any proceedings against the Company existing at the date of the CCAA Order are frozen and suspended. During the Stay Period, creditors are restrained from asserting, enforcing or exercising any right against the Company or its property as set out in the CCAA Order.

As part of the CCAA process, Deloitte & Touche Inc. was appointed by the Court as Monitor (the “Monitor”) to oversee the restructuring and to assist the Company in developing its plan of arrangement.

On February 22, 2007 the Court extended the Company’s creditor protection under the CCAA for an additional period expiring on May 3, 2007. The Court also granted an Order on February 22, 2007 authorizing the Company to initiate a claims process with respect to creditor claims existing at the date of the CCAA Order and certain claims arising subsequent to the filing of the CCAA Order. Further information with respect to the claims process can be found in the documents posted below.

On May 3, 2007, the Court extended the Company's creditor protection under the CCAA until midnight May 25, 2007. On May 25, 2007 the Court extended the Company's creditor protection under the CCAA until May 31, 2007. On May 31, 2007, the Court extended the Company's creditor protection under the CCAA until June 14, 2007. On June 13, 2007, Caribou filed a Plan of Arrangement (the "Plan"). On June 14, 2007, the Court extended the Company's creditor protection under the CCAA until midnight on August 31, 2007. Further, the Court directed that a Creditors' Meeting be held on July 30, 2007 to allow the creditors of Caribou to consider, and if thought fit, approve the Plan.

The Plan was amended with the consent of Caribou, JED Oil Inc., and the Monitor on July 4, 2007 (the "Amended Plan"). The changes made to the Plan were approved by the Court.

At the Creditors’ Meetings on July 30, 2007, Caribou presented the Unfiled Second Restated and Amended Plan of Arrangement (the "Second Amended Plan"). The Second Amended Plan was approved by the Requisite Majorities of Caribou's Affected Creditors. In addition, on July 30, 2007 the ABCA Arrangement and related resolutions were approved by the requisite majorities of Caribou Common Shareholders and JED Common Shareholders, respectively.
The Monitor's Fifth Report provided in connection with the Creditors' Meetings, including the results of the votes of the Affected Creditors and shareholders, and the Monitor's recommendation to the Court with respect to the sanctioning of the Second Amended Plan is posted below.

On July 31, 2007, the Court granted orders sanctioning the Second Amended Plan and the ABCA Arrangement. Copies of these orders are posted below.

Effective August 1, 2007, Caribou operated as JED Production Inc., a wholly owned subsidiary of JED Oil Inc. (“JED”).

Pursuant to the terms of the Second Amended Plan, on or about September 18, 2007, the Monitor issued distributions to the Unsecured Creditors representing the distribution from the Cash Proceeds Pool (100% of the Proven Claims of Unsecured Creditors to a maximum of $1,000).  In addition, the Monitor has made arrangements for the sale of the 5 million JED Common Shares. Pursuant to the terms of the Second Amended Plan, the net proceeds from the sale of the first 800,000 JED Common Shares will be distributed on a pro-rata basis to the Subordinate Secured Creditors. The net proceeds from the sale of the remaining 4.2 million JED Common Shares will be distributed on a pro-rata basis to the Unsecured Creditors. 

In accordance with the terms of the Second Amended Plan, the Monitor cannot, without the approval of JED, sell more than 500,000 JED Common Shares per month. However, we were advised by US legal counsel that the Monitor must also comply with Rule 144 of the General Rules and Regulations of the Securities Act and we are thereby restricted to certain volumes of share transactions during any given three month period. These restrictions are based on the greater of 1% of outstanding JED shares or the average weekly reported volume of trading during the four preceding calendar weeks.

The first transaction of shares occurred on November 14, 2007. We continue to work, with the Creditor Committee, to maximize the recovery from the sale of the JED Common Shares, while complying with Rule 144 limitations. We cannot at this time estimate either when the remaining transactions will be completed or when we will be in a position to make a further distribution to the creditors. Further updates will be posted on this website as they become available.

June 9, 2008 - The Creditors' Committee has authorized the Monitor to only sell JED Oil shares at a value in excess of $1.40 per share.  The share price of JED Oil shares as at June 6, 2008 is $0.95.  The Creditors' Committee has not wished to reduce the authorized selling price below this amount until such time as JED Oil refinances the redemption of its debentures.  This was to occur earlier this year, however JED Oil and its debenture holders have continually extended the redemption period to its current date of June 30, 2008.  It is anticipated that once the refinancing and redemption occur, that the JED Oil share price should increase.  On the assumption that the redemption will occur on or before that date, we anticipate that in early July the Creditors' Committee will provide the Monitor with new instructions on disposing the shares.

To date we have sold 685,844 JED Oil shares for net realizations of $1,005,215.05.

JED shares
Jed Oil Inc. obtained Creditor Protection under the Companies' Creditors Arrangement Act (CCAA) pursuant to an order granted on August 13, 2008 from the Court of Queen's Bench, District of Calgary.  The stay period expiries September 15, 2008. While this is not good news we will continue to sell as many shares as possible under the discretion of our broker.  The share price of Jed as of August 15, 2008 is $0.19.  We will continue to observe the position of JED Oil Inc. and the progress of the shares.

Should you require additional information please contact Vanessa Grant of Deloitte & Touche Inc. at (403) 298-5955. 

Court Documents:
Initial Order - January 30, 2007
Affidavit - January 30, 2007
Notice of Motion - February 19, 2007
Claims Procedure Order - February 22, 2007
Stay Extension Order - February 22, 2007
Supplemental Claims Procedure Order - April 10, 2007
Court Order - April 30, 2007
Affidavit of Christina M. Fehr - May 3, 2007 
Affidavit of Colin Christie, Financial Advisor to Framfield Oil & Gas Ltd.- May 3, 2007
Affidavit of Chris Bradley, Framfield Oil & Gas Ltd. - April 29, 2007
Affidavit of James Reid, Brookfield Bridge Lending Fund Inc. - April 30, 2007
Notice of Motion, Brookfield Bridge Lending Fund Inc. - April 30, 2007
Notice of Motion, the Precision Companies - May 2, 2007
Second Order Amending Claim Procedure - May 3, 2007
Second Stay Extension Order - May 3, 2007
Justice Horner's letter to all interested parties - May 7, 2007
Affidavit of James Reid, Brookfield Bridge Lending Fund Inc. - May 22, 2007
Notice of Motion - May 22, 2007
Affidavit of Chris Bradley, Framfield Oil & Gas Ltd. - May 24, 2007 
Notice of Motion, Framfield Oil & Gas Ltd. - May 24, 2007
Affidavit of Christina M. Fehr - May 24, 2007
Notice of Motion, Caribou Resources Corp. - May 24, 2007
Affidavit of James Reid, Brookfield Bridge Lending Fund Inc. - May 23, 2007
Affidavit of James Reid, Brookfield Bridge Lending Fund Inc. - May 24, 2007
Affidavit of Richard D. Carmichael, JED Oil Inc. - May 29, 2007 
Affidavit of Thomas J. Jacobsen, JED Oil Inc. - May 29, 2007
Supplementary Affidavit of Christina M. Fehr, Caribou Resources Corp. - May 29, 2007
Notice of Motion, Caribou Resources Corp. - May 30, 2007
Affidavit of Stephen J.A. Fagan, Chairman of the Board of Directors of Caribou Resources Corp. - May 30, 2007
Third Extension Stay Order - May 31, 2007
Court Order - May 31, 2007
Third Order Amending Claim Procedure - May 31, 2007
Notice of Motion - June 13, 2007
Affidavit of Christina M. Fehr, Caribou Resources Corp. - June 13, 2007
Court Order - June 14, 2007
Petition - June 21, 2007 
Notice of Motion dated June 21, 2007
Affadavit of Ross Robertson, Caribou Resources Corp. - June 21, 2007
Affidavit of Christina M. Fehr, Caribou Resources Corp. - June 22, 2007
Bench Brief, Caribou Resources Corp. - June 22, 2007 Application
Supplemental Affidavit of Ross G. Robertson, Caribou Resources Corp. - June 22, 2007
Notice of Motion - June 22, 2007
Supplemental Affidavit of Christina M. Fehr, Caribou Resources Corp - June 25, 2007
Bench Brief of Framfield Oil & Gas Ltd. - June 28, 2007
Flow-Through Claims Order - July 5, 2007 
Brief Re: Flow-Through Claims, July 5, 2007 - Part 1 
Brief Re: Flow-Through Claims, July 5, 2007 - Part 2
Notice of Motion, Caribou Resources Corp. and JED Oil Inc., - July 27, 2007
Affidavit of Christina M. Fehr, Caribou Resources Corp. - July 30, 2007 
Affidavit of Ross G. Robertson, Caribou Resources Corp. - July 30, 2007
Order Sanctioning CCAA Plan of Arrangement - July 31, 2007
Final Order Approving ABCA Arrangement - July 31, 2007
Court Order - September 2, 2010

Press Releases:
Press Release - January 30, 2007
Press Release - February 22, 2007
Press Release - March 29, 2007
Press Release - April 27, 2007
Press Release - May 4, 2007
Press Release - May 24, 2007
Press Release - May 25, 2007
Press Release - June 15, 2007

Creditor Information:
Notice to Creditors - February 5, 2007
Notice to Creditors re Claims Process - February 23, 2007
Notice of Claim Form
Notice of Claim (Supplemental Affected Claim) Form
Notice of Name and Address Change - September 20, 2007

Monitor's Reports:
First Report - February 19, 2007
Second Report - April 27, 2007
Third Report - May 24, 2007
Fourth Report - May 31, 2007
Monitor's Report on Amended and Restated Plan of Arrangement - July 23, 2007
Fifth Report - July 30, 2007
Sixth Report - July 22, 2010

Post-Petition Trade Creditors Charge
Post-Petition Trade Creditors Charge - May 7, 2007

Creditors' Meeting Materials
In accordance with the June 14, 2007 Order, please find the Creditors' Meeting Materials below:
Order - June 14, 2007
Plan of Arrangement - June 13, 2007 
ABCA Arrangement Agreement - June 13, 2007 
Notice to Creditors of Meeting of Creditors - June 29, 2007 
Proxy
Caribou Management Proxy Circular
Amended and Restated Plan of Arrangement, July 4, 2007
Monitor's Report on Amended and Restated Plan of Arrangement - July 23, 2007
Unfiled Second Amended and Restated Plan of Arrangement - July 30, 2007
Minutes of the Caribou Resources Corp. Subordinate Secured Creditors Meeting - July 30, 2007 
Minutes of the Caribou Resources Corp. Unsecured Creditors Meeting - July 30, 2007