August 17, 2007

AMMONITE AND AJM PETROLEUM CONSULTANTS OF CALGARY
FORM A COLLABORATIVE ALLIANCE

             Ammonite Resources is pleased to announce that it has entered into a collaborative agreement with AJM Petroleum Consultants in Calgary, Alberta. AJM is a leading Canadian petroleum engineering firm with a Canadian and solid international practice. Ammonite has used AJM’s services over the past couple of years on behalf of our clients, and has been impressed by their attention to detail, geological as well as engineering expertise, and AJM’s professionalism. The firm developed a very useful Canadian well database with the trademarked name of “PetroCube”, which it has now sold to GeoLogic Systems, Ltd.  Ammonite has accessed PetroCube through the AJM license to research statistical production, reserve, and capital and operating cost data by specific pools, sections and townships in areas we have evaluated for Ammonite clients.  On future Canadian and International projects where reservoir and operational engineering expertise is required beyond Ammonite’s in-house skill sets, we will team up with AJM. More information about AJM Petroleum Consultants can be found on the firm’s website at www.ajma.net.