Canada's Warwick Gas Storage to Convert Depleted Gas Pool into Natural Gas Storage Reservoir

SUGAR LAND--June 21, 2010--Researched by Industrial Info Resources (Sugar Land, Texas)--Paramount Energy Trust (TSX:PMT.UN) (PET) (Calgary, Alberta), an independent, natural gas-focused trust, recently announced that wholly owned subsidiary Warwick Gas Storage Incorporated (WGSI) (Calgary) is proceeding with the development of the company's natural gas storage facility at a site near Vegreville, in the Warwick area of Alberta. Development will be followed by commencement of commercial operations of the facility. The funds for the project have been arranged and are being held in escrow.