Find Energy Ltd.

Find Energy Ltd.

May 30, 2006 16:01 ET

Find Energy Ltd. Announces Normal Course Issuer Bid

CALGARY, ALBERTA--(CCNMatthews - May 30, 2006) - Find Energy Ltd. ("Find") (TSX:FE) announced today that the Toronto Stock Exchange has accepted its Notice to Make a Normal Course Issuer Bid (the "Bid") to purchase, from time to time, as it considers advisable, up to 2,562,481 of its 35,851,648 currently issued and outstanding common shares (being no greater than 10% of the public float) on the open market through the facilities of the Toronto Stock Exchange. The price that Find will pay for any shares purchased by it will be the prevailing market price of such shares on the Toronto Stock Exchange at the time of such purchase. Common shares acquired under the Bid will be cancelled.

The Bid will commence on June 2, 2006 and will terminate on June 1, 2007 or such earlier time as the Bid is completed or terminated at the option of Find.

Find believes that the acquisition of its common shares represents an appropriate use of funds. The purchase of common shares will increase the proportionate interest of, and be advantageous to, all remaining shareholders. In addition, the purchases by Find may increase liquidity to Find's shareholders wishing to sell their common shares.

Find will complete a normal course issuer bid on June 1, 2006. Under the bid 710,400 common shares of find were purchased at an average price of $5.055 per share.

Contact Information

  • Find Energy Ltd.
    Jeffrey P. Jongmans
    Vice-President Finance and Chief Financial Officer
    (403) 232-4809