Crew Energy Inc.
TSX : CR

Crew Energy Inc.

November 21, 2006 16:55 ET

Crew Energy Inc. Announces Completion of Private Company Acquisition

CALGARY, ALBERTA--(CCNMatthews - Nov. 21, 2006) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Crew Energy Inc. (TSX:CR) ("Crew" or the "Company") is pleased to announce that 100% of the issued and outstanding shares ("Target Shares") of a private oil and gas company with operations in Crew's core area of Ferrier in west central Alberta, have been tendered to Crew's previously announced offer to purchase (the "Offer"). Crew has directed the Depositary to take up and pay for the Target Shares deposited under the Offer. Approximately 5,319,000 common shares of Crew were issued in consideration for the Target Shares acquired.

Crew Energy Inc. is a Calgary based oil and natural gas exploration and development company. Crew's common shares trade on The Toronto Stock Exchange under the symbol "CR".

This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities in any jurisdiction. The common shares of Crew will not be and have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States, or to a U.S. person, absent registration or applicable exemption therefrom.

Contact Information

  • Crew Energy Inc.
    Dale O. Shwed
    President and Chief Executive Officer
    (403) 231-8850
    (403) 266-6259 (FAX)
    Email: dale.shwed@crewenergy.com
    or
    Crew Energy Inc.
    John G. Leach
    Vice President, Finance and CFO
    (403) 231-8859
    (403) 266-6259 (FAX)
    Email: john.leach@crewenergy.com