AEC is focused on Growth, Value and Performance as it builds a Super-Independent oil and gas company. This strategy capitalizes on the world-class assets and high-quality, long-life reserves that AEC has established in its three strong growth platforms - Western Canada, the U.S.
Rockies and Ecuador. In 2000, the Company set a target to double production from existing assets within five years.

AEC is Canada's largest natural gas producer and one of North America's largest independent oil and gas producers. In 2001, daily production is expected to exceed 380,000 barrels of oil equivalent. The Company is also looking to establish additional growth platforms through new ventures exploration in Alaska, the Mackenzie Delta, Australia, Congo and Azerbaijan. Midstream natural gas storage and pipelines assets comprise approximately 20 percent of the Company's asset base and provide a growing source of cash flow. Currently, AEC's enterprise value is approximately C$13 billion.

AEC's Common Shares trade on The Toronto Stock Exchange (AEC) and on the New York Stock Exchange (AOG). Web site: www.aec.ca.