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

Castle Rock Petroleum Ltd.

September 14, 2007 00:01 ET

Castle Rock Petroleum Ltd. Completes Asset Sale and Receives Shareholder Approval for Plan of Arrangement

CALGARY, ALBERTA--(Marketwire - Sept. 14, 2007) -

THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR TO ANY UNITED STATES NEWS SERVICES.

Castle Rock Petroleum Ltd. (TSX VENTURE:RCK.A)(TSX VENTURE:RCK.B) ("Castle Rock"), is pleased to announce that it has received shareholder approval for, and has completed the previously announced sale of a significant portion of its production and asset base to Northern Hunter Energy Inc., a private oil and gas company.

Castle also announces that it has received shareholder approval for the previously announced proposed plan of arrangement with Arrow Energy Ltd. (TSX VENTURE:AOF). An application to the Court of Queens Bench of Alberta for final approval of the plan of arrangement is set for September 28, 2007.

Castle Rock is a Calgary-based junior resource company engaged in the exploration, development and production of petroleum and natural gas reserves in Western Canada.

Arrow is a Calgary-based junior resource company engaged in the exploration, development and production of natural gas and oil primarily in the Peavine/Dawson, Westlock, and Red Water/Jeffrey areas of Alberta.

None of the Arrow Common Shares, the Castle Rock A Shares or the Castle Rock B Shares 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 has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Arrow Energy Ltd.
    Chris Tesarski
    President & CEO
    (403) 237-9996
    (403) 264-0416 (FAX)
    or
    Castle Rock Petroleum Ltd.
    Roger W. Hume
    Chairman & CEO
    (403) 290-3262
    or
    Castle Rock Petroleum Ltd.
    Paul Pypers
    President & COO
    (403) 290-3269
    Castle Rock toll free number, 1-888-290-3255