Paramount Resources Ltd. (Paramount) is an energy company. The Company is engaged in the exploration, development, production, processing, transportation and marketing of natural gas, crude oil and natural gas liquids. The Company operates in three segments: Principal Properties, Strategic Investments and Corporate. Its Principal Properties has four corporate operating units (COUs): the Kaybob COU; the Grande Prairie COU; the Southern COU, and the Northern COU. Strategic Investments include investments in other entities, including affiliates and investments in exploration and development stage assets. The Corporate segment consists of income and expense items, including general and administrative expense and interest expense. Paramount�s principal properties are located in Alberta, the Northwest Territories and British Columbia in Canada, and in North Dakota and Montana in the United States. On May 31, 2011, Paramount completed its acquisition of ProspEx Resources Ltd.