Diaz Resources Ltd.

Diaz Resources Ltd.

September 24, 2007 09:00 ET

Diaz Announces Normal Course Issuer Bid

CALGARY, ALBERTA--(Marketwire - Sept. 24, 2007) - Diaz Resources Ltd. (TSX:DZR) announces that it has filed notice with The Toronto Stock Exchange ("the Exchange") to make a Normal Course Issuer Bid (the "Bid"), to purchase through the facilities of the Exchange, from time to time, as it considers advisable, up to 640,000 of the issued and outstanding Common Shares (being approximately 1% of the 63,927,219 Common Shares outstanding at September 20, 2007).

The Bid will commence on September 26, 2007 and terminate on the earlier of September 25, 2008 and the date on which Diaz acquires all of the shares sought pursuant to the Bid. The price which Diaz will pay for any shares purchased by it will be the prevailing market price of such shares on the Exchange at the time of purchase. Any shares acquired by Diaz pursuant to the Bid will be cancelled.

Pursuant to a normal course issuer bid through the facilities of the Exchange that commenced on September 11, 2006, during the prior 12 months Diaz purchased 31,500 Common Shares at an average cost of $0.82 per share. All shares were purchased on the Exchange and have been cancelled.

Diaz believes that, from time to time, the purchase of Common Shares will increase the proportionate interest of, and be advantageous to, all remaining shareholders.

Diaz is an oil and gas exploration and production company based in Calgary, Alberta. Diaz's current focus is on deep gas exploration in Texas and on shallow gas developments in southern Alberta and natural gas exploration in central and southern Alberta.

Forward-looking statements - the press release today contains "forward-looking" information. Actual results could differ materially from the conclusions, forecasts or projections in the forward-looking information. Certain material factors and assumptions were applied in drawing the conclusions or making the forecasts or projections as reflected in the forward-looking information. Additional information about the material factors that could cause actual results to differ materially from the conclusion, forecast or projection in the forward-looking information and the material factors or assumptions that were applied in drawing the conclusion or making the forecast or projection as reflected in the forward-looking information is contained in the press release.

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

Contact Information

  • Diaz Resources Ltd.
    Robert W. Lamond
    (403) 269-9889
    (403) 269-9890 (FAX)
    Diaz Resources Ltd.
    Brad R. Perry
    Chief Financial Officer
    (403) 269-9889
    (403) 269-9890 (FAX)
    Email: info@diazresources.com
    Website: www.diazresources.com