Albion Petroleum Ltd.

September 14, 2009 17:54 ET

Albion Petroleum Ltd.: Share Acquisition by Insider

CALGARY, ALBERTA--(Marketwire - Sept. 14, 2009) - ALBION PETROLEUM LTD. (the "Corporation") (TSX VENTURE:ABP.H) announces, that David Shaw, a Director and insider of the Corporation, acquired directly directly 280,000 common shares ("Shares") of the Corporation pursuant to a series of stock exchange market transactions which occurred between July 7, 2009 and September 3, 2009 (the "Transactions"). As a result of the Transactions, David Shaw now owns or controls 1,105,334 Shares of the Corporation (18.4%) (including 258,334 Shares held in escrow) and options to acquire 315,000 Shares at a price of $0.10 per Share (the "Options"). Assuming exercise of such Options, the David Shaw would hold or control 1,420,334 Shares (23.6%) of the issued and outstanding Shares of the Corporation. The Shares were acquired by David Shaw for investment purposes.

Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this news release contains forward-looking statements and information concerning the Corporation's future operations and prospects. The forward-looking statements and information are based on certain key expectations and assumptions made by the Corporation. Although the Corporation believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward looking statements and information because the Corporation can give no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause the Corporation's actual results and experience to differ materially from the anticipated results or expectations expressed. These risks and uncertainties include, but are not limited to, access to capital markets, interest and currency exchange rates, and political and economic conditions. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this news release or otherwise, and to not use future-oriented information or financial outlooks for anything other than their intended purpose. The Corporation undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Albion Petroleum Ltd.
    David Shaw
    CEO, President and Director
    (604) 221-4828
    Albion Petroleum Ltd.
    Colin Christensen
    (403) 264-4811