Direct Energy

Direct Energy
Rockyview Energy Inc.

Rockyview Energy Inc.

January 14, 2008 06:00 ET

Direct Energy Provides Update on Acquisition of Rockyview Energy Inc. and Extension of Offer Until January 29, 2008

CALGARY, ALBERTA--(Marketwire - Jan. 14, 2008) - Direct Energy Marketing Limited ("Direct Energy") and Rockyview Energy Inc. ("Rockyview") (TSX:RVE) today announced that as of 4:30 p.m. (MST) on January 11, 2007, 21,537,360 common shares of Rockyview, representing approximately 88.4 per cent of the issued and outstanding common shares of Rockyview, had been validly deposited pursuant to Direct Energy's previously announced offer (the "Offer") dated December 7, 2007 for all of the common shares of Rockyview, on the basis of $3.16 per share in cash.

Direct Energy also announced that it is extending the Offer until 4:30 p.m. (MST) on January 29, 2008, for the purpose of maximizing the number of shares acquired pursuant to the Offer and providing those Rockyview shareholders who have been unavailable to respond with the opportunity to tender their shares. A notice of extension will be mailed to Rockyview's shareholders.

The Offer had been subject to certain conditions, including a condition that a minimum of 66 2/3 per cent of the Rockyview shares (calculated on a diluted basis, excluding Rockyview common shares that may not be included as part of any minority approval required in respect of a subsequent transaction to acquire all of the Rockyview common shares) be tendered. Direct Energy will take up all of the Rockyview common shares validly tendered at the initial expiry time and will pay for them promptly.

In connection with the acquisition of the Rockyview common shares by Direct Energy, all of the Officers of Rockyview and all of the members of Rockyview's Board of Directors, other than John Howard, will resign. Joining Mr. Howard as new Directors will be David Guebert, and from Direct Energy, Wes Morningstar, SVP Upstream Gas; Adele Malo, EVP Legal, G&RA & General Counsel; Bill Cronin, President Wholesale Energy; and Barbara Feit, VP Finance. Wes Morningstar and Niall Armstrong, VP & Asst. Gen. Counsel Wholesale, are expected to be appointed as the new Chief Executive Officer and Corporate Secretary, respectively, of Rockyview.

Copies of the Offer, the accompanying circular and related documents (in both English and French) have been filed with various securities regulatory authorities in Canada and are available on the SEDAR website ( under Rockyview's profile.

About Direct Energy

Direct Energy is one of North America's largest energy and energy-related services providers with over 5 million residential and commercial customer relationships. Direct Energy provides customers with choice and support in managing their energy costs through a portfolio of innovative products and services. A subsidiary of Centrica plc (LSE:CNA), one of the world's leading integrated energy companies, Direct Energy operates in Texas, the north-eastern United States and across Canada. To learn more about Direct Energy, visit

About Rockyview Energy

The business of Rockyview is the acquisition of, exploration for, and development and production of petroleum and natural gas. The Rockyview Shares are listed for trading on the Toronto Stock Exchange under the symbol "RVE".


The transaction took place pursuant to the Offer and not through the facilities of any stock exchange or any other marketplace. An early warning report concerning the acquisition by Direct Energy of Rockyview shares under the Offer will be filed by Direct Energy with various securities regulatory authorities in Canada and will be available on the SEDAR website ( under Rockyview's profile. A copy of the early warning report may also be obtained by contacting Direct Energy as described below.


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