Osprey Energy Establishes Toll Free Assistance Line for Shareholders and Financial Advisors


BRIDGEWATER, Nova Scotia, July 23, 2001 (PRIMEZONE) -- Osprey Energy Ltd. (CDNX:OEL) is pleased to announce that a Toll Free Number has been established to assist with shareholder and broker requests for information. The number, established in conjunction with the Company's public relations firm, Windward Communications, has been established as a result a dramatically expanding call flow resulting from positive developments and ongoing news flow resulting from same.

Callers from Canada and the United States may reach the information and assistance line by dialing Toll Free 1-866-238-1185 during normal business hours.

Osprey Energy is a oil and natural gas development and exploration company with established operations and projects in Louisiana, Alberta and the Maritime Basin of Eastern Canada. Field activities and development in the current year have more than tripled production and greatly expanded revenues. The respected firm of Evans and Evans has just issued a full analyst report on the Company through the Toronto-based Richmond Club. Those interested in obtaining a copy of the report may do so by calling the aforementioned Toll Free number.


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ONTACT: Osprey Energy Ltd.
        Investor Relations 
        (902) 543-5666
        Fax: (902) 543-7532
        Email: oel@ns.sympatico.ca