Park Place Energy Corp. Announces Saskatchewan Property Acquisition

OTCBB: PKPL

FRANKFURT: 3P2

VANCOUVER, Feb. 8 /PRNewswire-FirstCall/ - Park Place Energy Corp. ("Park Place" or "the Company") is pleased to announce the Company has acquired a 50% working interest in 80 acres of land located in western Saskatchewan.

Under the agreement, with a private company, the property was acquired in consideration for an aggregate of 150,000,000 shares at a deemed price of US$0.001 per share for an aggregate deemed consideration of approximately USD$150,000.

As announced February 3, 2010 Park Place Energy has also tendered a bid on a significant oil and gas Exploration and Development property within the European Union.

David Johnson, Park Place President and CEO said "The Company is aggressively positioning itself as a junior oil and gas explorer by seeking and acquiring blue-sky potential assets. By completing this acquisition we have created an exciting opportunity within a proven Canadian oil field."

About Park Place

Park Place Energy Corp. is a North American oil and gas exploration company that is participating in high impact shale gas opportunities. The Company has assets in North Western Alberta and Saskatchewan that it is committed to developing. As well Park Place is committed to the acquisition of additional blue-sky shale gas opportunities. Park Place's management is focused on optimizing profitability and enhancing shareholder value.

Certain information regarding the Corporation contained herein may constitute forward-looking statements. These statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although Park Place believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. These statements are subject to certain risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied. The Corporation is under no obligation to update or alter any forward-looking statement. These risks include operational and geological risks, the ability of the Corporation to raise necessary funds for exploration and the fact that the Corporation does not operate all its properties. Park Place's forward-looking statements are expressly qualified in their entirety by this cautionary statement.

SOURCE Park Place Energy Corp.

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