Cordero Energy Inc.

Cordero Energy Inc.

June 27, 2008 18:43 ET

Cordero Announces Expiry of ENMAX Offer Resulting in Condition for Payment of Dividend Not Being Met

CALGARY, ALBERTA--(Marketwire - June 27, 2008) - Cordero Energy Inc. (TSX:COR) ("Cordero") announced today that the offer from ENMAX Acquisition Corp. ("ENMAX") to acquire all Cordero common shares has expired without ENMAX taking up and paying for Cordero shares as the number of Cordero shares tendered did not meet the minimum condition. Furthermore, the $0.45 per share dividend announced by Cordero in a press release dated June 18, 2008 will not be paid as it was conditional upon ENMAX giving notice that it will take up Cordero Shares under the Offer.

Cordero is an independent exploration and development company pursuing conventional oil and natural gas production and reserves as well as coalbed methane development in western Canada. Cordero is based in Calgary, Alberta.

Contact Information

  • Cordero Energy Inc.
    David Elgie
    President and Chief Executive Officer
    (403) 265-7006
    Cordero Energy Inc.
    Dean Setoguchi
    Vice President and Chief Financial Officer
    (403) 265-7006