Albion Petroleum Ltd.

January 09, 2008 13:10 ET

Albion Petroleum Ltd. Transfers to NEX

CALGARY, ALBERTA--(Marketwire - Jan. 9, 2008) - ALBION PETROLEUM LTD. (the "Corporation") (TSX VENTURE:ABP.P) announces, in accordance with TSX Venture Exchange Policy 2.4, that the Corporation has not completed a qualifying transaction within the 24 month prescribed time frame. Therefore, effective January 10, 2008, the Corporation's tier classification will be changed from Tier 2 to NEX.

In connection with the transfer to NEX, 1,000,000 common shares of the Corporation purchased by directors of the Corporation and held in escrow have been cancelled effective December 28, 2007. For further information on the listing transfer and the share cancellation, please refer to the management information circular of the Corporation dated October 30, 2007 and filed on on November 8, 2007.

As of January 10, 2008, the Corporation is subject to restrictions on share issuances and certain types of payments as set out in the NEX policies.

The trading symbol for the Corporation will change from ABP.P to ABP.H and the filing and service office will change from Calgary to NEX.

Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Albion assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to Albion. Additional information identifying risks and uncertainties is contained in certain of Albion's filings with the Canadian securities regulators, which filings are available at

The TSX Venture Exchange does not accept responsibility for the accuracy or adequacy of this release.

Contact Information

  • Albion Petroleum Ltd.
    David Shaw
    CEO and Director
    (604) 221-4828
    Albion Petroleum Ltd.
    Colin Christensen
    (403) 264-4811