TUSK Energy Corporation: Normal Course Issuer Bid

CALGARY, ALBERTA--(Marketwire - April 2, 2008) - TUSK Energy Corporation (TSX: TSK.TO) ("TUSK") announced today that it has filed a Notice of Intention to Make a Normal Course Issuer Bid (the "Notice") with The Toronto Stock Exchange (the "TSX") and that the TSX has accepted the Notice. Under the bid, TUSK will have the right to purchase for cancellation up to a maximum of 4,522,111 of its common shares, representing approximately 5% of its outstanding common shares. The shares will be acquired through the facilities of the TSX for a period of up to one year commencing April 4, 2008. TUSK currently has 90,442,222 common shares outstanding and its average trading volume over the past six months was 298,137 shares per day.

The normal course issuer bid will remain in effect until the earlier of April 3, 2009 or until TUSK has purchased the maximum number of shares permitted under the bid. A daily maximum of 74,534 common shares may be purchased for cancellation pursuant to the Normal Course Issuer Bid rules.

Management and the directors of TUSK believe that common shares may become available during the proposed purchase period at prices which make them an attractive investment for TUSK.

TUSK is engaged in the acquisition, exploration, development and production of oil and natural gas reserves in three focus areas in the north-western part of the Western Canadian Sedimentary Basin. TUSK is developing natural gas production in the Conroy area of north-eastern British Columbia and light oil and natural gas in the Mega/Gutah and Peace River Arch areas of northern Alberta.

Contacts

John Rooney
TUSK Energy Corporation
Chief Executive Officer
(403) 264-8875

Michael Makinson
TUSK Energy Corporation
VP Finance and Chief Financial Officer
(403) 264-8875
Website: www.tusk-energy.com