Gibson Energy ULC

November 30, 2009 06:05 ET

Gibson Energy ULC Announces Equity Investment in Deepwell Energy Services Trust

CALGARY, ALBERTA--(Marketwire - Nov. 30, 2009) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Gibson Energy ULC ("Gibson") announces that on November 27, 2009, Gibson acquired an aggregate of 4,206,806 trust units (the "Units") of Deepwell Energy Services Trust (the "Issuer") pursuant to a private placement in reliance on the "accredited investor" exemption at a subscription price of $0.90 per Unit.

The Units acquired by Gibson are held for investment purposes. This investment will be reviewed by Gibson on a continuing basis and such holdings may be increased or decreased in the future. Gibson may in the future acquire or dispose of Units, through the open market, privately or otherwise, as circumstances or market conditions dictate.

Immediately after the completion of the transactions referred to above, Gibson exercised control or direction over 5,593,112 Units representing 41.3% of the issued and outstanding Units as at November 27, 2009.

Gibson will file an early warning report pursuant to National Instrument 62-103 "The Early Warning System and Related TakeOver Bid and Insider Reporting Issues" describing the above transactions with applicable securities regulatory authorities, a copy of which will be available at www.sedar.com.

Gibson is one of the largest independent mainstream energy companies in Canada. Founded in 1953, Gibson has extensive capabilities in the transportation, storage, processing, marketing and distribution of crude oil, condensate, NGL's, asphalt and refined products.

A. Stewart Hanlon, President and Chief Executive Officer

Contact Information

  • For further information on Gibson Energy ULC,
    or for a copy of the Early Warning Report, please contact:
    Rick Taylor
    Executive Vice President and Chief Financial Officer
    (403) 206-4009
    Fax: (403) 206-4011