The Buffalo Oil Corporation
TSX VENTURE : BFO

The Buffalo Oil Corporation

December 06, 2006 09:00 ET

Buffalo Oil Announces Completion of Private Placement

CALGARY, ALBERTA--(CCNMatthews - Dec. 6, 2006) - The Buffalo Oil Corporation ("Buffalo") (TSX VENTURE:BFO) is pleased to announce that it has completed its previously announced private placement. Buffalo issued 550,000 common shares at a price of $1.80 per share and 910,000 flow-through common shares at a price of $2.20 per share, for gross proceeds of approximately $3 million. Research Capital Corporation and Acumen Capital Finance Partners Limited acted as underwriters for the private placement.

Proceeds will be used to fund Buffalo's 2006 and 2007 capital expenditure programs. The common shares and flow-through common shares issued under the offering are subject to a four month hold period from December 5, 2006. Buffalo has 21.7 million common shares issued and outstanding and 24.4 million fully diluted shares outstanding.

Buffalo is an emerging Canadian junior oil and gas company engaged in the exploration, development and production of oil and gas reserves in the provinces of Alberta and Saskatchewan.

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

Contact Information

  • The Buffalo Oil Corporation
    Trevor Penford
    President and C.F.O.
    (403) 252-2462
    or
    The Buffalo Oil Corporation
    William (Bill) Trickett
    Chairman and C.E.O.
    (403) 252-2462
    or
    The Buffalo Oil Corporation
    Suite 180, 1209 - 59th Avenue S.E.
    Calgary, Alberta T2H 2P6
    (403) 252-2462
    (403) 252-1399 (FAX)
    Website: www.buffalo-oil.com