In March, CIRI Alberta invited Jamie Hyndman, Vice President of Institutional Sales at Mawer Investment Management, to deal with the challenging topic of Future Market Influences. Twenty-five of our members and guests were entertained by a knowledgeable speaker who provided interesting commentary during difficult economic times.

For our mid-April workshop, we organized an interactive message creation and delivery event designed to engage and involve participants. We’d like to thank Peter Knapp from Bryan Mills Iradesso, Mike Polonsky of Equicom and Christina Marinoff of Barnes McInerney for providing an educational morning.

During the second quarter, the IROs of several local companies have been assisting fourth year students with the Investor Relations option of Mount Royal College’s Communications degree program. The Alberta Chapter Board identifies committed individuals to ensure that students have the tools and assistance they need to effectively complete their projects. The students prepare an investor presentation about the company they are working with and then deal with a Q&A session from the audience. This process is always interesting, thought provoking and fulfilling for the IROs concerned as the students bring fresh opinions, lots of energy and enthusiasm to investor relations as a communications discipline.

Our annual Market Update session took place in early May. This has historically been one of our more popular and interactive events. Our portfolio manager speaker, Kelly Woodall of Cypress Capital Management, handled questions about the markets, trends, forecasts, commodity pricing, and investor sentiment.

The current program year ends on June 9 with CIRI Alberta’s AGM. The CIRI Alberta Board cordially invites members to participate in the AGM and converse with Josef Schachter, of Schachter Asset Management, our guest speaker. Afterwards, members are welcome to enjoy cocktails and hors d’oeuvres.

ALBERTA
CIRI Alberta’s 2009 programming began on January 14, with a well attended, timely event led by Beth Diamond, Managing Partner of the Calgary office of NATIONAL Public Relations. Attendees received an excellent overview of the key influences and issues to be considered when managing reputational risk.

On January 30, 24 intrepid CIRI Albertans headed up to Lake Louise for CIRI Alberta’s second annual ski day. Despite windy conditions, an enjoyable and safe day was had by all. Our thanks to the generous event sponsors – Kingsdale Shareholder Services, CNW Group and nonfiction studios.

March’s event dealt with Future Market Influences, as the IRO role evolves and becomes more diverse with advances in trading technology, globalization of the capital markets and developments in money management.

For our mid-April workshop, Bryan Mills Iradesso, nonfiction studios and Barnes McInerney will challenge our visual and language skills. This workshop is designed to help us create key corporate messages and effectively deliver them. Please register through the CIRI website.

Bernard Simon delivered his extremely popular Write it Right seminar on November 5. We had a total of 16 registrants and we are already looking forward to Simon’s return to Calgary during our program of events in 2009/2010.

ALBERTA
During the summer, a busy group of CIRI Alberta volunteers geared up for our annual gala celebrating the investor relations profession in the Province. The gala takes place on Thursday, September 25 at the Metropolitan Centre in Calgary. We look forward to hearing from our guest speaker: Diane Francis, Editor-At-Large for the Financial Post, is a broadcaster and author of nine best-selling books, who is considered one of Canada’s preeminent journalists.

Our fall programming will continue with a luncheon in late October entitled “Opening the Analyst’s Door”. Local analysts will provide insight as to why they choose to cover certain companies, and also tell IROs how to enhance their communications.

On November 5, Bernard Simon will be in Calgary for his extremely popular Write it Right one-day seminar. Simon, a former managing editor of the Financial Post, has worked as a foreign correspondent for such prestigious publications as the Financial Times, The New York Times and The Economist. This event has sold out in Calgary for the last couple of years, so early registration is encouraged.

At CIRI Alberta’s Annual General Meeting on June 9, 2008, 14 members were elected as directors for the 2008/2009 term. The Alberta Chapter Board members are: Paul Beique, Vermilion Energy Trust (President), Linda Zavarella, Imperial Oil Limited (Secretary); Dean Morrison, Invico Capital Corporation (Treasurer); Rob Elgie, Oilexco Incorporated (Membership); Sandra Rogoza, Kodiak Energy Inc. (Programs); Chloe Douglas-Crampton, Stem Cell Therapeutics Corp. (Marketing); Siren Fisekci, Canadian Oil Sands Trust; Rhonda Bennetto, Metallica Resources Inc.; Anne-Marie Buchmuller, TransGlobe Energy Corp.; Stephanie Labowka-Poulin, AltaGas Ltd.; Patricia Lew-Lapointe, First Calgary Petroleums Ltd.; Alison Trollope, OPTI Canada Inc.; Stephanie Mesher, Brian Mills Iradesso (Newsline Representative); and Sarah Zapotichny, Resverlogix Corp.

Diane Phillips of Tanganyika Oil and Greg Kist of Progress Energy Trust stepped down from the CIRI AB Board this summer. Their contributions have been much appreciated.

The AGM was followed by a CEO Roundtable with John Zahary, President & CEO of Harvest Energy Trust, and Doug Cutts, President & CEO of Pulse Data. Both CEOs provided an entertaining and enlightening perspective on the role of investor relations in their companies.

The CIRI Alberta Board and Gala committee are now focused on the 5th annual CIRI AB Gala. The event is scheduled to take place in Calgary on Thursday, September 25, 2008. This year, the keynote speaker will be Diane Francis, one of Canada’s preeminent financial journalists.

ALBERTA
About 20 people attended the ski day hosted by Kingsdale Shareholder Services, CNW Group and nonfiction at Lake Louise in February.

Our March luncheon seminar focused on U.S. shareholder targeting programs, with guest speaker Patty Bruner, Managing Director of Christensen IR.

CIRI Alberta hosted a breakfast discussion in April with Fred Pynn, President and Chief Investment Officer of Bissett Investment Management, who addressed current markets trends and provided some forecasts. Pynn said that the longest bull market in TSX history ended in the fall of 2007; with typical bear markets lasting about a year, we can expect to see recovery between July and October 2008. Pynn believes a mania in commodities trading is exacerbated by the amount of money flowing into commodities. As many investors practice ‘rear-view investing’ – investing in what has been the best performing class – there are opportunities to make money by investing in other areas.

CIRI Alberta’s SOX Compliance and Governance Practices event, with Lori Caltagironem, President of Sunesis Consulting Inc., a SOX and governance consultant, took place in May.

Our Annual Meeting will be held in June and will include a CEO perspective on investor relations, corporate governance, SOX, trends in the market/industry, shareholder activism, and other hot topics. •

Canadian Investor Relations Institute Alberta 2008 - 2009 Slate

The following 14 CIRI Members have agreed to stand for election as Directors for the Alberta Chapter of CIRI:

Paul Beique has served as Director Investor Relations for Vermilion Energy Trust since February 2003. Paul worked for several years as a petroleum production engineer in Texas before moving to Canada in 1986. After completing an MBA at Concordia University, Paul worked as an investment analyst for a variety of investment dealers in both Montreal and Calgary for over 15 years. Paul has been a member of CIRI since 2003, a CIRI Alberta Director since 2004, served as Program Chair from 2005-07 and has been President since May 2007.

Rhonda Bennetto is Director of IR and Corporate Communications for Metallica Resources Inc., a Canadian gold mining company based out of Denver. Prior to joining Metallica, Rhonda was Director of IR at Enterra Energy Trust in Calgary. Previous to Enterra, Rhonda was Manager IR and Corporate Communications at Enerflex Systems Income Fund, Grande Cache Coal, Aquest Energy Ltd., Rock Creek Resources Ltd., Tikal Resources Corporation, and Rigel Energy Corporation - all TSX-and cross-border listed companies. Rhonda was responsible for all aspects of investor relations including responsibility for the strategic direction of the company's investor relations, communications and regulatory activities, including international public relations. Ms. Bennetto has over 10 years combined investor relations, communications and corporate secretarial experience and has been a member of CIRI since 2000. Rhonda holds a Bachelor of Business Administration degree and has completed the Canadian Securities Course.

Anne-Marie Buchmuller joined TransGlobe Energy Corporation, a Calgary-based junior exploration and production company, in February 2008 as Manager, Investor Relations and Assistant Corporate Secretary. She holds a Bachelor of Commerce (equivalent) from the Zurich Business College and has lived and worked in Hungary, Switzerland, the United States and Canada. Prior to joining TransGlobe, she was the investor relations manager for three different energy trusts based in Calgary. Earlier in her career, she worked for the Swiss Federal Department of Foreign Affairs, a Canadian-owned private bank in Zurich, Switzerland and a Swiss-owned handgun manufacturing company in the United States; all previous positions were communications-related and in some cases included corporate secretarial responsibilities. She has also worked as a free-lance translator for various Swiss law enforcement departments, including the organized-crime division of the Zurich Cantonal Police. Anne-Marie has been a member of CIRI since 2001.

Chloe Douglas-Crampton has been the Manager of Investor Relations for the Calgary based drug development hloe holds a Bachelor of Science degree from the University of Western Ontario. She has been a member of CIRI company, Stem Cell Therapeutics Corp, since 2004. Previously she held the position of residential mortgage underwriter at CIBC Mortgages in Toronto for 3.5 years where she actively worked with mortgage brokers and provided consultation on standard practices and regulatory policies. Prior to joining CIBC she managed the production of medical reviews, census and statistical reports for a private pharmaceutical company based in Toronto, Summit Pharmacy Inc.

Chloe holds a Bachelor of Science degree from the University of Western Ontario. She has been a member of CIRI since 2004 and was on the Marketing and Media Committee for the 2005 and 2006 CIRIAL (CIRI Alberta) Awards Galas. Chloe currently serves as CIRI Alberta’s Marketing Chair.

Rob Elgie is Manager, Investor Relations of Oilexco Inc, a Calgary headquartered oil and gas company with operations in the UK North Sea. His primary functions since joining the company in 2005 have been focused on initiating a formal IR program during a time when the company has experienced tremendous growth from an $800M market capitalization to one that is $2B. Prior to joining Oilexco, he was the Director of the British Trade Office in Calgary, and previously he worked as a management consultant for a large firm. Rob obtained his MBA from the University of Alberta. Rob became a CIRI Alberta Director in 2006 and currently serves as the Membership Chair.

Siren Fisekci is currently Director of Investor Relations with Canadian Oil Sands Limited, a wholly owned subsidiary of Canadian Oil Sands Trust. Siren’s investor relations experience is concentrated in the energy sector with positions at EnCana Corporation, PanCanadian Energy and Rigel Energy. Previously, Siren worked in marketing communications. Siren holds a Bachelor of Communications Degree from the University of Calgary, a diploma in Public Relations from Mount Royal College and has taken several investment courses, including the Canadian Securities Course and the Richard Ivey Strategic Management of Investor Relations course. Siren has been a member of CIRI since 1999.

Patricia Lew-Lapointe is currently the Manager, Investor Relations with First Calgary Petroleums Ltd., an exploration and development company with oil and gas assets in Algeria. She joined First Calgary in the middle of their proxy fight with dissent shareholders in March, 2008. Patty has seven years of investor relations and communication experience. Prior to joining First Calgary, Patty was with Provident Energy Trust in their investor relations department. At Provident, Patty was responsible for retail and financial investor communications, regulatory filings, community investments, corporate communications, and webmaster for the internet and intranet.

In addition to her investor relations and communications experience, Patty has over 15 years of experience in oil and gas marketing accounting with major companies such as Anderson Exploration, Chevron Canada, Amoco Canada and Dome Petroleum. Combined Patty has been in the Calgary oil and gas industry since 1986. She has been a member of CIRI since 2004, and has volunteered on the CIRIAL Awards Gala in 2007 and 2006.

Stephanie Labowka-Poulin is Manager of Investor Relations at AltaGas Income Trust, an integrated energy infrastructure organization with a market capitalization of almost $2 billion. She has worked in the energy industry since 1993 and has many years of analytical experience, including market, financial and economic analysis.

Stephanie moved into the Investor Relations field in 2001, when she joined the Investor Relations department at TransAlta Corporation. She has been a member of CIRI since 2001, became a director of CIRI Alberta in 2006 and was on the Programming Committee for the 2005 and 2006 CIRIAL (CIRI Alberta) Awards Galas. Stephanie attained her CFA designation in 2004, has an honours degree in Economics from Concordia University (Institute for Cooperative Education) and a DEC in Pure and Applied Science from Marianopolis College.

Stephanie Mesher is a VP, Investor Relations with Bryan Mills Iradesso, a Calgary and Toronto based integrated communications consultancy with a focus on brand communications, multimedia development and investor relations. She came into the investor relations field from the retail investment community, having worked at BMO Nesbitt Burns, providing investment advice and management for 8 years. She has a Bachelor of Arts (honours) in Modern European Studies (Economics and Politics) and a Master of Letters from the University of St Andrews in Scotland in Management Economics Politics, and has completed numerous investment industry courses including the Canadian Investment Manager designation. Stephanie has been a member of CIRI Alberta since 2005 and joined board in 2007.

Dean Morrison has held lead roles in Investor Relations within the Canadian Royalty Trust sector as well as at one of North America’s largest Class I Railways.

In addition to his experience in Investor Relations, Dean brings a depth of analytical experience to his position having spent several years in progressively more senior analytical roles in the Oil & Gas, Energy Marketing, Industrial and Real Estate sectors.

Dean holds a Bachelor of Commerce degree from the Haskayne School of Business and has received his Chartered Financial Analyst designation from the CFA Institute. Dean has been a member of CIRI since 2002, a Director of CIRI Alberta since 2005, and Treasurer since 2006.

Sandra Rogoza joined Kodiak Energy, Inc. as Manager, Investor Relations and Corporate Affairs in March 2008. Prior to joining Kodiak, she was a Vice President of Christensen, a global capital markets and investor relations advisory firm. Previous to Christensen, she was Manager, Investor Relations for Pennine Petroleum Corporation. Earlier in her career, she held the position of Vice President, Business Development for Majestic Engineering Ltd. Her other experience in the oil and gas sector include exploration and production, drilling and service rig manufacturing, project procurement, developing technical proposals, and implementing operational policies, procedures and processes for start-up companies. Sandra completed the Strategic Management of Investor Relations at the Richard Ivey School of Business in Mississauga, Ontario in December 2005.

She is a member of the Canadian Investor Relations Institute (CIRI), a Director and Program Chair for CIRI Alberta Chapter, and also holds memberships with the Canadian Society of Corporate Secretaries (CSCS) and Small Explorers and Producers Association of Canada (SEPAC). Sandra is a contributing writer for IR Insight, a monthly investor relations publication. In addition, she regularly attends the Deloitte & Touche LLP Directors’ Series.

Alison Trollope is currently the Manager, Investor Relations for OPTI Canada Inc., an oil sands company. Alison possesses over 10 years of investor relations, corporate communications and marketing communications experience. Previously, she was the Executive Director of Investor Relations for Isis Pharmaceuticals of Carlsbad, CA, and prior to that the Director of Investor and Public Relations for Maxygen, Inc. of Redwood City, CA. Before moving to California, she worked in public relations agencies in New York City, developing and implementing strategic communications programs in the energy, healthcare and consumer goods sectors.

Alison has been a Board Member of CIRI Alberta since 2006 and held the position of Membership Chairman from 2006-2007. A member of CIRI since 2005, she was previously a member of NIRI (1998 - 2005). She has a Master of Science in Public Relations from the Newhouse School of Public Communications at Syracuse University and a Bachelor of Arts degree in Economics from the University of Calgary.

Sarah Zapotichny joined Resverlogix Corp. in 2005 and is currently Manager of Investor Relations. Resverlogix is a publicly traded biotechnology company (TSX:RVX) focused on developing novel therapies for unmet medical markets, primarily cardiovascular disease, cancer and fibrotic conditions. Prior to joining Resverlogix, Sarah worked for the RCMP Corporate Management Branch, Internal Control as a strategic consultant for improved police services. Prior the working on the corporate side, Sarah worked with the RCMP and the Vancouver police department as a Research Analyst and Criminal Profiler. Sarah has a Bachelor of Arts degree in Criminology and Psychology from Simon Fraser University and Conflict Resolution, Mediation & Third Party Negotiation accreditation from the University of Calgary and the Justice Institute of British Columbia. Sarah has been a CIRI Alberta Director since June, 2006.

Linda Zavarella is Investor Communications Coordinator at Imperial Oil Limited. Her current position entails the coordination of all senior management investor presentations, annual Investor Days, as well as a key player in the organization of Imperial’s annual meeting. Linda also provides accurate, up-to-date information to the investment community and manages Imperial’s Information for Investors section of the website. Linda possesses over 20 years of Investor Relations experience.

Linda joined Imperial Oil Limited in 1977 and prior to working with the corporate side, Linda worked through various departments such as Marketing, Engineering, Planning & Admin. and Systems, as well as a special assignment involving divestments.

Linda has been an active participant in the work of the Canadian Investor Relations Institute (CIRI), has participated as a board member of CIRI Ontario, and many years ago assisted with NIRI Canada conferences and fundraising drives. Linda has taken the Richard Ivey Strategic Management of Investor Relations course in 1998. Linda served as Secretary of CIRI Alberta in 2006-2008 and is returning as Secretary of CIRI Alberta for the upcoming year.

Good afternoon and thank you all for coming today.

CIRI Alberta strives to provide both educational and networking opportunities. These events enable Investor Relations practitioners to improve their skills and to share experiences, problems and solutions with each other. CIRI also work towards raising the profile and recognition of all IR practitioners. We believe the IR role, performed well, can add significant value to a firm, and should be treated as an integral part of a company’s operations.

Over the past year, we hosted workshops on writing and financial skills, as well as a number of smaller events covering everything from market trends to shareholder targeting to the new Alberta Royalty regime. Many Alberta members also took advantage of CIRI National’s ‘Essentials of IR Program” that was held in Calgary this year. We contribute to the Venture Exchanges ‘Market Orientation’ efforts and assist in a small way with the IR portion of Mount Royal College’s public relations program. All of our programs are available to members and non-members, and the strong non-member participation continues to validate the quality and timeliness of our offerings.

Not to be forgotten is the annual CIRI Alberta awards gala. We draw approximately 250 members of the IR and financial community to this event, which has proven to be a good fund raiser for charity as well. Last year we donated silent auction and raffle proceeds of more than $10,000 to the Alberta Children’s Hospital.

We manage all of this through a team of dedicated volunteers including our board members, our strong corporate supporters, and many individuals that care enough to give their time and efforts to the cause. This is all funded through chapter membership fees and modest event charges and is probably one of the best professional organization deals in town. At the end of the day, we continue to break-even.

Next year, we are planning a program that will again cover a broad range of topics - from advancing your financial and marketing skills to better understanding markets and your place in them. We encourage you to attend as many events as you can, as each seminar and workshop is designed to raise your proficiency as an IRO.

The CIRI Alberta Chapter continues to push our goal to raise the profile of the IRO in the investment community. This year we will be hosting our fifth annual CIRI Alberta Gala, and I am pleased to announce that we have engaged Diane Francis, one of Canada’s most respected journalists, as our guest speaker for the event. Please mark your calendars for September 25th as it promises again to be an enjoyable and enlightening evening.

We really can’t take on these tasks alone and there are many people and firms that truly make a difference to CIRI.

First, I would like to thank the board members for their assistance and dedication to the cause. I also want to thank their employers for enabling them to share their expertise with us.

I would like to thank Debbie Carver and Odette Ries Bustin for returning as co-chairs of this year’s gala. We are proud of this event which would not happen without your guidance and the support of the many volunteers that help us behind the scenes.

Speaking of behind the scenes, Janet Pellegrin, Jay Cloutier and the all the people at Marketwire have provide the courteous and efficient handling of registration and promotion of CIRI at all our events for the past two years. Thank you for making our job much easier.

Thanks to all the crew at Non-Fiction Studios who provide creative help with all of our brochures and design needs and who manage our invitation process.

Thanks to our key supporters at CNW Group and Kingsdale Shareholder Services. Beyond their normal efforts, they were also instrumental in organizing our first CIRI Ski trip (again with non-fiction)

Thanks again to Sundog Printing who generously donates the printing of our brochures and Gala materials.

Thanks to Mike McLeod of Georgeson who always seems to be around to help with the GALA and other CIRI events. Thanks to our event planner, Connie Crowe, for keeping a roof over our head and refreshments in our hands, and to our bookkeeper Anne Hayden for keeping track of all this nonsense.

Finally, we have small token of appreciation for one of our outgoing board members. Diane Phillips has served on the CIRI board for the past five years, including three years as our Secretary and two as our Newsline representative. We know you aren’t going away, but we want to you to know that your contributions and support have been much appreciated. Thanks Diane.

That is all I have. Thank you all again for coming this afternoon.

ALBERTA
CIRI Alberta hosted a half-day financial workshop led by Peggy Hedges, one of the University of Calgary’s most prominent finance professors. Participants in the January 16 event were treated to an engaging and perceptive view of financial statements and their interpretation. The feedback was outstanding, and the biggest request was for a full-day session of the same nature. CIRI Alberta’s former program chair, Chris Dore, has resigned from Canetic Energy Trust to take on a research position at one of the bank owned investment dealers. We have invited Sandra Rogoza (Vice President, Christensen IR) to join the CIRI Alberta Board and assume the role of program chair. With several spring functions planned, Sandra’s input will be substantial. The March luncheon featured tips on U.S. marketing.

CIRI National hosted the Essentials of IR program in Calgary on February 4 and 5, with participation by a number of CIRI Alberta members as guest speakers. The chapter’s members’ ski day was held on February 29.

Alberta
Leading investor relations professionals from across Alberta were recognized September 20 at the fourth Annual CIRI Alberta Awards Gala in Calgary.

Good afternoon and thank you all for coming today. While we all seem to have survived another year in the markets, some IR practitioners discovered the risks of investing in politically unfriendly countries like Venezuela, Bolivia, Russia and Canada. Several CIRI members were directly or indirectly impacted by the Conservative government’s decision to impose a draconian tax on income trusts, providing new challenges and increasing work loads for all. Many other IRO’s were untouched, but we all continue to face other hurdles and opportunities.

We all share a common goal; to present accurate and timely information to investors in a manner that ensures the proper valuation of our companies in the market. Hopefully, the CIRI Alberta Chapter can continue to provide the tools and support you need to improve the efficiency of your IR efforts.

Over the past two years, over 500 people have attended our seminars and workshops, covering a myriad of subjects ranging from crisis communication, regulations and governance, website optimization and networking skills to name a few. One third of the attendees have come from outside the Chapter, so it appears we are providing a useful product. Next year, our programs will again cover a broad range of topics - from advancing your financial and marketing skills to improving relationships with the financial community and with your CEO. We encourage you to attend as many events as you can, as each seminar and workshop is designed to raise your proficiency as an IRO.

We continue to maintain registration fees as low as possible, while maintaining the fiscal strength and sustainability of our Chapter. We ended the fiscal year in good financial shape which will enable us to continue to deliver high quality, affordable programs for the maximum benefit to our members. Dean Morrison would be happy to discuss these results further with those of you that want more details, but as we are a not-for-profit organization I won’t focus on them now.

The CIRI Alberta Chapter has also made a concerted effort to raise the profile of the IRO in the investment community. This year we will be hosting our fourth annual CIRI Alberta Gala, which welcomed over 270 attendees last September. Please mark your calendars for September 20th as it promises to be an enjoyable evening.

So who is CIRI Alberta? We are you. The board that you appointed a few minutes ago is a collection of highly talented volunteers that have graciously offered their time and skills toward the improvement of all our careers. Many other members of CIRI donate their time and efforts to serve on committees, all with a single purpose – to enhance the value of the IRO. CIRI Alberta is now 200 members strong representing the broad spectrum of industries that call Alberta home. We very much appreciate your support. I would like to thank the departing board members for their efforts and the current board members for their assistance and dedication to the cause. I also want to thank their employers for enabling them to share their expertise with us. I am grateful to Susan Soprovich for her positive guidance and endless enthusiasm. And to Debbie Carver and Odette Ries Bustin, thank you for accepting the gargantuan task of chairing our fourth annual gala this September. Thanks also to the many other volunteers that help us behind the scenes.

Thanks to Connie Crowe for her outstanding event planning skills and to Micheline Cloutier-Galloway, our corporate administrator, who has kept us legal for the past several years. Best regards to the CIRI National staff for all their efforts on our behalf.

We really can’t take on these tasks alone and there are many people and firms that truly make a difference to CIRI. Rob Grundy and the all the crew at Non-Fiction Studios provide creative help with all of our brochures, invitations and design needs and are tireless supporters of CIRI. Sundog printing generously donates the printing of our brochures and Gala materials. Mike McLeod of Georgeson and Michelle Dauphinee of Kingsdale are quick to offer help with the GALA and other CIRI events. Kali Ann Brummitt and the all the people at Marketwire provide the courteous and efficient handling of registration and promotion of CIRI at all our events. And a special thanks to both Marketwire and CNW Group who continue to lead the long list of firms that help make CIRI a better organization.

I am sure I have not named all those that support us, and I apologize to any that were left unmentioned.

Micheline, we have a small token of our appreciation for your long-standing efforts on our behalf. You will be truly missed.

Finally, we have a special gift for our outgoing President, Derek DeLeon, who has chosen to pursue his own business in the entrepreneurial spirit that guides us all. Derek, we hope you can enjoy this after one of those hard days at the spa.

With that said, I would like to welcome our special guests today, Bob Thompson, president and CEO of Brownstone Asset Management and Paul Moroz, Director and Equity Analyst, Mawer Investment Management Ltd. Thank you both for joining us today.

CIRI Alberta Members

RE: AGM and Portfolio Manager Roundtable, Wednesday June 27, 2007

Dear Colleague,

I would like to invite you to attend the Annual General Meeting of CIRI Alberta scheduled for Wednesday, June 27 at 4:00 pm at the Westin Hotel (Mount Royal/ Lakeview Room). We will be introducing our new slate of directors for your approval, will briefly review the year that has passed and give you some insight into next year's programs and activities.

Immediately following the AGM we will engage in a lively discussion with some of Calgary's finest portfolio managers. After the rountable discussion (which should conclude at about 5:30 pm), we would be pleased if you could join us for a complementary reception to celebrate past accomplishments and toast the year to come.

I would also like to ask you to do two simple tasks for me (please):

1. First, please sign and return the enclosed proxy to Micheline Cloutier by mail or fax before the close of business on Monday, June 25
2. Second, if you plan to attend the AGM, please notify Kali Ann Brummitt with Marketwire such that we can adequately arrange for food and beverages. ciriab@marketwire.com or phone 266-2638

On behalf of CIRI Alberta I would like to express our appreciation for your support and look forward to seeing you in the near future.

Best Regards
President
CIRI Alberta

CIRI’s current bylaws are almost 10 years old – some minor changes were approved in 1999, but most bylaws have been in place since 1997. Since that time, CIRI has evolved as an organization, and best practices for non-profit organization governance have similarly evolved.

With the support of CIRI staff, the Board of Directors conducted a thorough review of CIRI's bylaws and proposed a number of revisions to bring them up-to-date. Revisions to the chapter bylaws were approved by the Board at its March 2007 meeting.

Regular members will be asked to approve revisions to the national bylaws at CIRI’s Annual General Meeting in Whistler, B.C. on June 17, 2007. The rationale for all changes is attached. National Bylaw changes will be emailed to all members with AGM materials in early May.

Any questions or comments on CIRI bylaw revisions should be directed to Suzie Fernandes at 905-274-1639 or sfernandes@ciri.org.

CIRI Members please login to download the bylaw revisions.

Alberta
Top Alberta Investor Relations Professionals Recognized at Awards Gala

The third annual Canadian Investor Relations Institute Alberta Awards Gala honoured the province’s leading investor relations professionals at a ceremony at the Calgary Zoo on September 22.

The investment community, media and members of CIRI Alberta voted on the award winners, recognizing the following professionals:

IR Heart & Hustle
Debbie Carver, Investor Relations Coordinator, Shiningbank Energy Income Fund

IR Leadership & Innovation
Anne-Marie Buchmuller, Manager, Investor Relations, Sequoia Oil & Gas Trust Sue Showers, IR and Communications Advisor, Paramount Energy Trust

Friend of CIRI Alberta
CNW Group

IR Professional of the Year
Paul Bell, Vice President of Investor Relations, Canadian Pacific Railway

Best Financial Reporting
AltaGas Income Fund

Management Team of the Year
Keyera Facilites Income Fund

IR Hall of Fame Sheila McIntosh, Vice President,
Investor Relations, EnCana Corp.

“This event is about people making a difference,” said Derek De Leon, Co-Chair CIRIAL Dinner and President of CIRI Alberta. “On behalf of the Board of CIRI Alberta I want to thank the tremendous volunteers from CIRI Alberta who have dedicated their time and passion to make this event a success.”

The event also served as a fundraiser for the Making Changes Employment Association of Alberta (MCEAA), and its programs, the Walk In Closet and Making Changes.

Those in attendance were inspired by the words of guest speaker Catriona Le May Doan, two-time Olympic Gold Medalist, seven-time World Champion in speed skating and one of Canada’s most successful and highly decorated athletes. Income Fund

IR Leadership & Innovation Anne-Marie Buchmuller, Manager, Investor Relations, Sequoia Oil & Gas Trust Sue Showers, IR and Communications Advisor, Paramount Energy Trust

Friend of CIRI Alberta
CNW Group

IR Professional of the Year
Paul Bell, Vice President of Investor Relations, Canadian Pacific Railway

Best Financial Reporting
AltaGas Income Fund
Management Team of the Year
Keyera Facilites Income Fund
IR Hall of Fame Sheila McIntosh, Vice President,
Investor Relations, EnCana Corp.

“This event is about people making a difference,” said Derek De Leon, Co-Chair CIRIAL Dinner and President of CIRI Alberta. “On behalf of the Board of CIRI Alberta I want to thank the tremendous volunteers from CIRI Alberta who have dedicated their time and passion to make this event a success.”

The event also served as a fundraiser for the Making Changes Employment Association of Alberta (MCEAA), and its programs, the Walk In Closet and Making Changes.

Those in attendance were inspired by the words of guest speaker Catriona Le May Doan, two-time Olympic Gold Medalist, seven-time World Champion in speed skating and one of Canada’s most successful and highly decorated athletes.

Join CIRI Alberta on September 21 for a gala evening of networking and awards presentation and as we recognize outstanding contributions to the investor relations profession in Alberta.

This is the 3rd year of the event and CIRI Alberta hopes to build on the success of last year which was attended by over 200 participants from the investment community, media and corporations throughout Alberta. The event will again include a silent auction to raise funds for the Walk-in-Closet, a local organization which helps women take the first steps in building a better life. Come help us to make this year even more successful than the last!

Register at http://www.ciri.org/chapters/ab/events/

If you would like to become involved in this event - and assist CIRI AB in making it better in 2006 - please contact Derek De Leon at ddeleon@petro-canada.ca

Departing directors include Tim Jeffery, Susan Soprovich, Darlice Albers, Dave Moneta, Dave Carson and Simon Stelfox.

The AGM also featured a sellside/buyside roundtable featuring Bruce Beingessner, Partner with Jarislowsky Fraser; and Mark Heim, Senior Analyst with Orion Securities. Thirty-four people attended the meeting and roundtable. Plans are underway for the Third Annual CIRI-AL IR Awards dinner, to be held September 21 at the Calgary Zoo. The event is an evening of networking and awards honouring the best in the IR business in Alberta. We are off to a good start on the sponsorship front – $6,000 has been raised and we continue to ask companies to participate. Last year more than 200 people attended the dinner and we hope to exceed this level. The organizing committee is chaired by Derek De Leon and Susan Soprovich. Over the past two years, the silent auction held at the CIRI-AL Awards Dinner has raised more than $11,000 for charity.

CIRI Alberta’s February seminar featured Peter Block of NATIONAL Public Relations, Calgary whose presentation on Managing Shareholder Activism included a case study. On March 9, Josh Pekarsky of Longview Communications spoke at a seminar on Crisis Communications. He used several examples to outline crisis communications plans and discussed their implementation. Both luncheons were well-attended and the speakers received high marks.

On Thursday, April 6, CIRI Alberta held a workshop entitled Strategic IR – Taking Your Program to the Next Level. Topics included:

• Perspectives on Investor Communications, a study based on interviews with 260 investor relations professionals that benchmarked practices, procedures and trends related to investor communications at America’s top companies, presented by Brian Rivel of Rivel Research Group, Connecticut;
• Perspectives on the Buy Side, a primer, based on interviews with more than 300 portfolio managers and buy-side analysts on how investment decisions are made. This was discussed by Brian Rivel; and
• Building Better Relationships with Management and the Board: a view of how IROs can move beyond the planning and implementing of IR programs to become more valuable resources to C-suite executives and boards of directors, presented by Don Allen of The Allen Group, California.

The CIRI Alberta Annual General Meeting will take place on June 15. On that date, we’ll also hear from a panel of institutional portfolio managers, who will discuss corporate governance, SOX, shareholder activism and other hot topics.

CIRI Alberta is pleased to announce our program schedule for the 2006 - 2007 programming year. The programs provided by your CIRI Alberta chapter and by CIRI National are highlighted in the attached brochure. Our programs are available to CIRI Alberta members (at reduced members rates) and to non-members.

The CIRI Alberta program is geared for the IRO on the go. We invite you to attend these informative sessions as well as the CIRI National programs to help you go farther and faster.

Alberta
CIRI Alberta hosted four events this fall, two of an educational nature and two of a social nature.

The October 20 luncheon featured a panel discussion entitled Managing Expectations – how much should you tell? Attendees heard differing views regarding what to say, how much to say and when to say it, as well as pointers on how to balance flexibility with giving the street enough information to predict and measure performance. Nearly 80 people attended this very informative presentation.

CIRI Alberta also held a half-day seminar on creating and maintaining an effective, broad-based marketing plan. Called Hit the Road Running, the event was designed to help IROs target appropriate shareholders, create interest in the analyst community and organize effective road shows – with the aim of ensuring proper valuation.

Speakers included Michelle Khalili of CIBC World Markets, who provided advice on preparing an institutional road show, Raina Vitanov from ARC Energy Trust, who spoke about reaching the retail investor and Janet Craig of ATI Technologies, who discussed maintaining an effective marketing program.

The luncheon presentation, held in conjunction with CIRI National, featured Paul Bell, Vice President, Investor Relations, Canadian Pacific Railway Limited; William Braithwaite, Senior Partner, Stikeman Elliott LLP; and Derrick Sturge, Firm Director, Chief Financial Officer & Governance Services, Deloitte & Touche LLP, who discussed the new civil liability legislation and what it means to companies and IROs.

A social event to thank volunteers was held in November, and CIRI Alberta members got together on December 1 to share a little Christmas cheer. Both events provided a chance to network and catch up with colleagues. CIRI Alberta is also sad to say goodbye to Christine Penner, whose career is taking her to London, England. Christine has been a great asset to our board and we wish her the best.

CIRI Alberta hosted its second annual CIRIAL (CIRI Alberta) Investor Relations Awards Gala September 22 at the Calgary Zoo’s Safari Lodge.

The annual awards recognize outstanding practices in the field of investor relations in Alberta over the past year. Nominations were received from CIRI Alberta members, as well as from the media and investment communities across Canada.

More than 200 investor relations professionals and their colleagues from the investment community attended the event, an increase from the 180 attendees in 2004.

The IR Heart & Hustle award went to George Kesteven, Manager, Investor Relations at PrimeWest Energy Trust.

The IR Innovator award went to John Wheeler, Vice President, Investor Relations for TELUS Corporation.

Derek De Leon, Manager, Business Development for Petro-Canada, was voted IR Professional of the Year.

Management Team of the Year award went to ARC Energy Trust.

John Rogers, Vice President, Investor Relations at Suncor Energy was inducted into the IR Hall of Fame.

The Friend of CIRI Alberta award went to Nancy Rivers and Odette Ries-Bustin of CCNMatthews for their contributions to CIRI Alberta.

CIRI Alberta congratulates the winners and thanks all those who supported the event, which raised more than $7,000 in a silent auction. Proceeds of the auction were donated to the Walk-In Closet, a community-based service in Calgary, whose mission is to empower unemployed and underemployed women to be successful in job interviews and integration into the workplace.

The Alberta chapter's 2005/06 program is now available. We look forward to seeing you at a CIRI AB event - a great place to network and learn.

Susan Soprovich, President CIRI Alberta, delivered her report to the chapter membership at this afternoon's AGM

Over the past year, CIRI Alberta has worked to provide its members and the surrounding community with timely information on current investor relations issues through luncheons, workshops and special events, as well as opportunities to gain knowledge by networking with other investor relations professionals.

CIRI Alberta members, log in to read the full report or download in Adobe PDF format.