Bonterra Oil & Gas Ltd.
TSX : BNE

December 18, 2008 17:08 ET

Bonterra Oil & Gas Ltd. Announces Redemption of Class A Redeemable Preferred Shares

CALGARY, ALBERTA--(Marketwire - Dec. 18, 2008) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW.

Bonterra Oil & Gas Ltd. (TSX:BNE) (formerly SRX Post Holdings Inc.) (the "Corporation") (www.bonterraenergy.com), announces that all issued and outstanding class A redeemable preferred shares in the capital of the Corporation have been redeemed and cancelled at 12:00 p.m. (Calgary time) on December 17, 2008 without payment of any consideration, as provided in the Corporation's articles of reorganization.

The Corporation's articles of reorganization were filed in connection with a Plan of Compromise and Arrangement under the Companies' Creditors Arrangement Act (Canada) and the Canada Business Corporations Act ("CCAA Plan"). For more information on the CCAA Plan, see the Corporation's press releases of October 20, 2008 and November 12, 2008, copies of which are available on SEDAR at www.sedar.com.

Contact Information

  • Bonterra Oil & Gas Ltd.
    George F. Fink
    CEO
    (403) 262-5307
    (403) 265-7488 (FAX)
    or
    Bonterra Oil & Gas Ltd.
    Garth E. Schultz
    Vice President - Finance, and CFO
    (403) 262-5307
    (403) 265-7488 (FAX)