Algonquin Oil & Gas Limited

November 30, 2007 16:16 ET

Algonquin Oil & Gas Limited Announces Recapitalization Discussion

CHATHAM, ONTARIO--(Marketwire - Nov. 30, 2007) - Algonquin Oil & Gas Limited (TSX VENTURE:AQX) announces recapitalization discussion.

The Corporation announces that it is carrying on discussions with a group of investors led by one of its directors about a material financing by way of a private placement of securities to these investors, accompanied by a change of management. No agreements have been concluded, nor has the Corporation's board of directors approved any corporate actions related to the possible transaction, however, management believes that the discussions are advanced and substantive enough that stockholders and investors should be aware of them.

The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release.

Contact Information

  • Algonquin Oil & Gas Limited
    James D. Fair
    (313) 823-9737