The Buffalo Oil Corporation
TSX VENTURE : BFO

The Buffalo Oil Corporation

October 18, 2006 09:00 ET

Buffalo Oil Announces Results of Offer to Purchase Pocaterra Energy

CALGARY, ALBERTA--(CCNMatthews - Oct. 18, 2006) - The Buffalo Oil Corporation ("Buffalo") (TSX VENTURE:BFO) today announced that it has acquired approximately 11 million shares of Pocaterra Energy Inc. ("Pocaterra") (TSX VENTURE:PCT), representing approximately 92% of the outstanding common shares of Pocaterra pursuant to its offer dated August 25, 2006, as amended and extended by Notice of Extension dated October 5, 2006. The Offer expired at 5:00 p.m. (Calgary time) on October 17, 2006.

As more than 90% of the common shares of Pocaterra were deposited to Buffalo's Offer, Buffalo intends to exercise its right to acquire the remaining outstanding common shares of Pocaterra pursuant to a compulsory acquisition under the Business Corporations Act (Alberta). Buffalo expects to complete that compulsory acquisition as soon as reasonably practicable.

Buffalo expects the common shares of Pocaterra to be de-listed from the TSX Venture Exchange upon completion of the compulsory acquisition.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the common shares of Buffalo in the United States. The common shares will not be and have not been registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States absent registration or an application exemption from the registration requirements.

Certain information set forth in this press release contains forward looking statements. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, reliance should not be placed on forward-looking statements. Buffalo's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits Buffalo will derive therefrom. Buffalo disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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