Albion Petroleum Ltd.
TSX VENTURE : ABP.P

October 14, 2008 17:52 ET

Albion Petroleum Ltd.: Share Acquisition by Insider

CALGARY, ALBERTA--(Marketwire - Oct. 14, 2008) - ALBION PETROLEUM LTD. (the "Corporation") (TSX VENTURE:ABP.P) announces, that David A. Shaw, a Director and insider of the Corporation, acquired directly 525,000 common shares ("Shares") of the Corporation pursuant to a stock exchange market transaction on October 9, 2008 (the "Transaction"). As a result of the Transaction, David A. Shaw now owns or controls 525,000 Shares of the Corporation (8.7%), options to acquire 315,000 Shares at a price of $0.10 per Share (the "Options") as well as holds 258,334 Shares in escrow (the "Escrow Shares"). Assuming exercise of such Options and release from escrow of the Escrow Shares, David A. Shaw would hold or control 1,098,334 Shares (17.4%) of the issued and outstanding Shares of the Issuer.

Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Albion assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to Albion. Additional information identifying risks and uncertainties is contained in certain of Albion's filings with the Canadian securities regulators, which filings are available at www.sedar.com.

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

Contact Information

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