AGS Resource 2006-1 GP Inc. and Lawrence Asset Management announced today that, in connection with the planned dissolution of AGS Energy 2006-1 L.P., they propose to transfer all of the assets of the L.P. to AGS Lawrence Resource Fund Ltd.

Appropriate elections under applicable income tax legislation will be made to effect the transfer on a tax-deferred basis.

AGS Lawrence Resource Fund Ltd. is a mutual fund with an investment objective to achieve long-term capital growth by investing primarily in equity securities of Canadian resource companies, particularly those engaged in oil and gas exploration and development and mining exploration.

A special meeting of limited partners to consider and vote the proposed rollover has been called and will be held on April 17. The record date for the meeting is March 4. The proposed date for the rollover transaction is April 30.

It is currently intended that the partnership will be dissolved within 60 days of the rollover.