8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):            April 12, 2007

IPSCO INC.(Exact name of registrant as specified in its charter)

Canada	001-14568	98-0077354
(State or other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification Number)

650 Warrenville Road, Suite 500, Lisle, Illinois	60532
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number including area code:     (630) 810-4800

N/A
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (se General Instruction A.2 below):

o     Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o     Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o     re-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o     re-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 7.01       Regulation FD Disclosure

On April 12, 2007, IPSCO Inc. issued a news release commenting on market rumors and recent appreciation in its stock price.  IPSCO Inc. confirmed that it is currently in discussions that could lead to a potential acquisition of the Company.  There can be no assurance that any transaction will occur, or as to the timing, structure or terms of any transaction.  A copy of the news release is attached as Exhibit 99.1.

Item 9.01       Financial Statements and Exhibits

(d)	Exhibits
	99.1	Press release of IPSCO Inc. issued April 12, 2007.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

IPSCO Inc.
By:	/s/ Leslie T. Lederer
	Vice President, General Counsel &
	Corporate Secretary

DATED:  April 12, 2007

INDEX TO EXHIBITS

Exhibit No.	Description
99.1	News Release of IPSCO Inc. issued April 12, 2007

EX-99.1

Exhibit 99.1

IPSCO COMMENTS ON RUMORS

[Lisle, Illinois April12, 2007] — In response to market rumors and noting recent appreciation in its stock price, IPSCO Inc. confirmed today that it is currently in discussions that could lead to a potential acquisition of the Company. There can be no assurance that any transaction will occur, or as to the timing, structure or terms of any transaction.

IPSCO is a leading producer of energy tubulars and steel plate in North American with an annual steel making capacity of four million tons. With the acquisition of NS Group, IPSCO now operates four steel mills, eleven pipe mills, and scrap processing centers and product finishing facilities in 25 geographic locations across the United States and Canada. The Company’s pipe mills produce a wide range of seamless and welded energy tubular products including oil & gas well casing, tubing, line pipe and large diameter transmission pipe. Additionally, IPSCO is a provider of premium connections for oil and gas drilling and production. IPSCO trades as “IPS” on both the New York and Toronto Stock Exchanges.

For more information about IPSCO, log on to www.ipsco.com.

This press release contains forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The words “believe”, “expect”, “will”, “can” and other expressions that are predictions of or indicate future events, trends or prospects and which do not relate to historical matters identify forward-looking statements. Although IPSCO believes the anticipated future results, performance or achievements expressed or implied by the forwardlooking statements and information are based upon reasonable assumptions and expectations, the reader should not place undue reliance on forward-looking statements and information because they involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from anticipated future results, performance or achievements expressed or implied by such forward-looking statements and information. Factors that could cause actual results to differ materially from those contemplated or implied by forward-looking statements include: weather conditions affecting the oil patch; drilling rig availability; demand for oil and gas; supply, demand and price for scrap metal and other raw materials; supply, demand and price for electricity and natural gas; demand and prices for products produced; general economic conditions; a significant change in the timing of, or the imposition of any governmental conditions; the extent and timing of our ability to obtain revenue enhancements and cost savings following the transaction; and changes in financial markets. These and other factors are outlined in the Company’s regulatory filings with the Securities and Exchange Commission and Canadian securities regulators, including those in the Company’s 2005 Form 10-K, and its MD&A, particularly as discussed under the heading “Risk Factors Related To Our Industry”. IPSCO undertakes no obligation to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise.

Company Contact:
Tom Filstrup, Director of Investor Relations
Tel. 630 810-4772
tfilstrup@ipsco.com
Release #07-10

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