ENMAX Acquisition Corp., a wholly-owned subsidiary of ENMAX Corporation, remains interested in completing the acquisition of Cordero Energy Inc. ("Cordero") as contemplated in its original offer dated March 10, 2008, as extended, at a price reflective of its underlying value and announces both a final increased offer price of $4.75 cash per common share of Cordero and an extension of the offer to 4:30 p.m. (Calgary time) on May 28, 2008.

Copies of the notice of extension and variation (in both English and French) have been filed with the various securities regulatory authorities in Canada and are available on the SEDAR website (www.sedar.com) under Cordero's profile.

About ENMAX
ENMAX Corporation and its predecessors have provided Albertans with safe, reliable electricity for more than 100 years. Through its subsidiaries, ENMAX provides electricity, natural gas, renewable energy and value-added services to more than 500,000 residential, commercial and institutional customers in Alberta. ENMAX Energy Corporation contracts low-cost reliable electricity from the Keephills and Battle River facilities and meets peak demand through a long term agreement for the Calgary Energy Centre. ENMAX, through a subsidiary, is one of Alberta’s largest investors in renewable energy with 100 per cent ownership of the Taber Wind Farm and 50 per cent ownership of the McBride Lake Wind Farm. For more information, visit our website at enmax.com.

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