Cordero Energy Inc.

Cordero Energy Inc.

November 11, 2005 10:19 ET

Cordero Energy Announces Expansion to Bought Deal Financing

CALGARY, ALBERTA--(CCNMatthews - Nov. 11, 2005) -


Cordero Energy Inc. (TSX:COR) announces, further to its press release of November 10, that it has increased its "bought deal" financing by 400,000 common shares. A total of 2.6 million common shares will be issued on a private placement basis at $5.80 per common share, for gross proceeds of $15.1 million. The common shares will be issued by a syndicate led by Peters & Co. Limited and including Tristone Capital Inc., CIBC World Markets Inc. and BMO Nesbitt Burns Inc. Closing, subject to regulatory approval, is expected to occur on or about November 29, 2005.

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, and its common shares trade on the Toronto Stock Exchange under the symbol ("COR").

This news release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction. Such securities have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.

Statements in this press release may contain forward-looking statements including expectations with respect to future events and the actions of third parties. These statements are based on current expectations that involve a number of risks and uncertainties, which could cause actual results to differ materially from those anticipated. These risks include, but are not limited to: the underlying risks of the oil and gas industry (i.e. operational risks in development, exploration and production; potential delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserves estimates; the uncertainty of estimates and projections relating to production, costs and expenses, and health, safety and environmental factors), commodity price and exchange rate fluctuation and uncertainties.

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