Perpetual Energy Inc. (Perpetual) is an oil and natural gas exploration and production company. The Company is engaged in producing primarily natural gas with growing volumes of oil and liquids from properties in Alberta, Canada. As of December 31, 2011, Perpetual had liquid natural gas assets in the Deep Basin of west central Alberta, heavy oil production in eastern Alberta, a natural gas storage facility and oil sands leases in northern Alberta to complement its shallow gas production base. Perpetual�s producing assets are 100% concentrated in Alberta. Its assets include Eastern district, Northeast, Athabasca, Bitumen/Heavy Oil, Birchwavy East, Birchwavy West, West Central district and Elmworth Montney. As of December 31, 2011, Perpetual held over 41,400 hectares (162 net sections) of oil sands leases in the Panny Area of northern Alberta. In March 2013, the Company sold its Elmworth property.