Castle Rock Petroleum Ltd.
TSX VENTURE : RCK.A
TSX VENTURE : RCK.B

Castle Rock Petroleum Ltd.

March 28, 2006 13:18 ET

Castle Rock Petroleum Ltd.: Closing of Financing

CALGARY, ALBERTA--(CCNMatthews - March 28, 2006) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Castle Rock Petroleum Ltd. (TSX VENTURE:RCK.A) (TSX VENTURE:RCK.B) ("Castle Rock") is pleased to announce that it has closed its previously announced financing for total gross proceeds for $1.95 million. A total of 1,626,625 Class A Shares were issued at a price of $1.20 per share. The shares issued in connection with this private placement are subject to a four month hold period. GMP Securities L.P. acted as Agent in connection with the financing.

Proceeds from this offering will be used to finance Castle Rock's on-going exploration and development activity and for general corporate purposes.

Castle Rock Petroleum Ltd. is an emerging company engaged in the acquisition, exploration, development and production of oil and natural gas reserves in western Canada. Castle Rock has 10,701,625 Class A Shares and 900,000 Class B Shares outstanding.

The Class A Shares of Castle Rock have not and will not be registered under the United States Securities Act of 1933 as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold in the United States or to any U.S. person except in certain transactions exempt from the registration requirements of the U.S. Securities Act and applicable state securities laws.

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

Contact Information

  • Castle Rock Petroleum Ltd.
    Roger Hume
    Chairman and CEO
    (403) 290-3262 or Toll free: 1-888-290-3255
    or
    Castle Rock Petroleum Ltd.
    Michael Makinson
    VP Finance and CFO
    (403) 290-3261 or Toll free: 1-888-290-3255
    Website: www.castlerockpetroleum.com