Eagle Rock Exploration Ltd.
TSX VENTURE : ERX

Eagle Rock Exploration Ltd.

May 30, 2006 16:25 ET

Eagle Rock Increases Private Placement to 5.5 Million Shares

CALGARY, ALBERTA--(CCNMatthews - May 30, 2006) - Eagle Rock Exploration Ltd. (TSX VENTURE:ERX) ("Eagle Rock"), in an update to its press release of May 29, 2006, regarding a proposed $6 million private placement financing, announces that such private placement has been oversubscribed. Eagle Rock has agreed to grant the Agent for the offering, Acumen Capital Finance Partners Limited, an option to place up to 5,500,000 common shares in total provided that any increase in the number of common shares from the 4,127,884 common shares originally offered is placed as either common shares or common shares issued on a "flow-through" basis eligible for Canadian development expense. The private placement is expected to be completed on or about June 15, 2006 and is subject to the normal regulatory approvals.

Based in Calgary, Eagle Rock is a junior oil and gas company with a growth strategy based upon drilling and strategic acquisitions and alliances in Western Canada.

We seek Safe Harbor.

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

Contact Information

  • Eagle Rock Exploration Ltd.
    Jim Silye
    President and Chief Executive Officer
    (403) 269-4040
    (403) 261-1978 (FAX)