Culane Energy Corp.
TSX VENTURE : CLN

Culane Energy Corp.

June 30, 2008 17:19 ET

Culane Energy Corp. Adds to Killam Asset

CALGARY, ALBERTA--(Marketwire - June 30, 2008) - Culane Energy Corp. ("Culane") (TSX VENTURE:CLN) is pleased to announce the closing of the purchase of various petroleum and natural gas rights comprising of approximately 290 bbls of oil and 580 Mcf of natural gas per day in the Killam area of Central Alberta. The purchase cost Culane approximately $21.75 million, plus a 5% non convertible override on 50% of production of a portion of natural gas rights from one section of land contained within the transaction. The transaction was completed at approximately $56,000 per flowing barrel.

This acquisition is an integral part of Culane's strategic expansion of its core land base in the Killam area of Central Alberta.

About Culane Energy Corp.

Culane Energy is a junior oil and gas company engaged in the exploration, development and production of oil and natural gas in Alberta.

23,872,354 Class A Shares

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

Contact Information

  • Culane Energy Corp.
    Donald D. Staus
    President and Chief Executive Officer
    (403) 263-2773
    (403) 263-2776 (FAX)
    Email: dstaus@culaneenergycorp.com
    or
    Culane Energy Corp.
    Stewart Larsen
    Vice President of Finance and Chief Financial Officer
    (403) 263-2773
    (403) 263-2776 (FAX)
    Email: slarsen@culaneenergycorp.com
    or
    Culane Energy Corp.
    Thomas H. Field
    Vice President, Engineering and Operations
    (403) 263-2773
    (403) 263-2776 (FAX)
    Email: tfield@culaneenergycorp.com
    Website: www.culaneenergycorp.com
    or
    Culane Energy Corp.
    420, 333 - 5th Avenue S.W.
    Calgary, Alberta T2P 3B6