Abacus Signs Agreement with Sovereign Wealth Fund to Pursue Large Oil Acquisitions

October 13, 2010, Calgary, Alberta – Abacus Private Equity is pleased to announce that it has entered into an agreement with a sovereign wealth fund to pursue large oil acquisition opportunities in Canada. More specifically, Abacus will be looking for exploration, development, and production companies, or assets, of crude oil and/or bitumen. The partnership will be focused on transactions valued at over a billion dollars.

About Abacus Private Equity:
Abacus is an independent investment firm which has been successfully acquiring Canadian and international businesses for over a decade. With offices in Toronto, Vancouver, Calgary, and Montreal, Abacus employs a cross-functional team.

For further information please visit www.AbacusPE.com or contact:

Jean-Marc Bougie
Managing Director & Chief Investment Officer
Abacus Private Equity
Tel.: 514.664.8893

Paul Baay
Abacus Energy
Tel.: 403.619.8407