cmt-t The Bids To Buy Are Huge - Ask Yourself why then Buy Compton Fast!

Compton reduces debt level through the sale of overriding royalties

CALGARY, Sep. 28, 2009 (Canada NewsWire via COMTEX) -- Compton Petroleum Corporation (TSX - CMT, NYSE - CMZ) is pleased to announce that it has entered into purchase and sale agreements for the sale of various overriding royalties to two parties. Total proceeds of the transactions are approximately $54.5 million with an option for an additional $47.5 million, providing Compton with total potential proceeds of $102.0 million which will be used to reduce the Corporation's bank debt. The transactions include the sale of a 2.5% overriding royalty ('ORR') with an option to purchase an additional 2.5% ORR by December 24, 2009. Assuming the full exercise of the option, the ORR will represent 5% of the gross production revenue on the Corporation's existing land base less certain transportation costs and marketing fees, calculated on a monthly basis. Substantially all of Compton's current proved, probable and possible assets are included in this ORR. In total, assuming the full exercise of the option, the transactions represent approximately 1,170 boe/d of production based on second quarter 2009 results. These transactions combined with the recently announced equity offering are expected to reduce total debt by approximately $263.0 million. Should the option not be exercised, proceeds available to reduce debt are $216.0 million related to 635 boe/d of production. The ORR transactions are anticipated to close in October 2009. Scotia Waterous Inc. acted as a financial advisor to Compton with respect to the transactions. "The sale of the overriding royalties is another key step in realizing our objective to reduce our debt level," said Tim Granger, President and Chief Executive Officer. "This sale and our recently announced equity issue are positive first steps to improve the Corporation's capital structure. We're pleased with these achievements as Compton now has greater flexibility and choice, allowing us to start shifting our focus to growth opportunities from our substantial asset base. In the upcoming months, we will continue to assess additional debt reduction options." Advisories

Toronto's Zenn stops making electric cars

Toronto's Zenn stops making electric cars

September 28, 2009

FROM THE STAR'S WIRE SERVICES

In an apparently radical shift in plans, Toronto-based electric car company Zenn Motor Company Inc. says it decided to switch its business strategy from selling electric vehicles to distributing an electric drive train.

As a result, the company will no longer be building its cityZenn car, instead focusing on what its calls the ZENNergy drive train. This would be an EESU-powered drive train that can be installed in the cars of other automakers.

"The way things have really changed over the last year – there have been such dramatic shifts and focus on electric vehicles – it doesn't make a lot of business sense for us to go into the distribution and sale of the vehicle," said Zenn chief executive Ian Clifford.

Clifford, like the rest of the world, is still waiting for EEStor to come through with a pre-production battery.

"We are working on a daily basis with EEStor on this final milestone – this very, very critical milestone – because it takes us to commercial viability," Clifford said.

U.S.-based battery maker EEStor Inc. is developing a battery that aims to charge in minutes and power a car for 400 kilometres at speeds up to 125 km/h.

Zenn has a 10.5-per-cent stake in the company. Meanwhile, Clifford is in talks with other automakers who might be interested in EESU-powered cars. Zenn also has the exclusive rights to sell the technology for cars up to a maximum weight and retrofit cars more than one year old.

Zenn still plans to build proof-of- concept cars, but won't mass produce them.

The company in a statement said the its previously announced cityZenn highway-capable electric vehicle will not be developed into a standalone commercially available offering.

"Integration of the Zennergy drive in vehicles has always been our long-term objective," said Clifford.

"We want to partner with all OEMs (original equiment manufacturers) so that consumers can drive a variety of electric vehicles across numerous automotive brands with one common denominator–they are all powered by Zennergy." Zenn has built about 350 all-electricm, two -seater vehicles that sell for about $15,995 (U.S.) and have a range of 80 kilometres.