Rockyview Energy Inc.
TSX : RVE

Rockyview Energy Inc.

December 07, 2007 17:07 ET

Direct Energy Mails Offer for Rockyview Shares

CALGARY, ALBERTA--(Marketwire - Dec. 7, 2007) - Rockyview Energy Inc. (TSX:RVE) ("Rockyview") announced today that Direct Energy Marketing Limited ("Direct Energy") has mailed formal offer documents to holders of outstanding securities of Rockyview in connection with an offer to acquire all of the common shares of Rockyview for $3.16 cash per share (including any Rockyview shares issued on the exercise of outstanding options or warrants prior to the expiry time of the offer (the "Offer")). The Offer will remain open for acceptance until 4:30 p.m. (Calgary time) on January 11, 2008, unless withdrawn or extended. The Offer is conditional upon, among other things, there being validly deposited under the Offer (and not withdrawn) prior to the expiry time of the Offer (and at the time Direct Energy first takes up common shares of Rockyview deposited under the Offer) not less than 66 2/3 percent of the outstanding common shares of Rockyview, calculated on a diluted basis, excluding common shares of Rockyview that may not be included as part of the minority approval required in connection with any second stage transaction that Direct Energy may wish to undertake to acquire shares not deposited under the Offer.

A director's circular setting out the recommendation of the Board of Directors of Rockyview in relation to the Offer has also been mailed to holders of securities of Rockyview. The Board of Directors of Rockyview, after consultation with its legal and financial advisors, and after receipt of an opinion of its financial advisor, Tristone Capital Inc., has recommended that Rockyview shareholders accept the Offer and tender their Rockyview shares to the Offer.

Copies of the formal Offer and related documents and the director's circular (in both the English and French languages) have been filed with various securities regulatory authorities in Canada and are available on the SEDAR web site (www.SEDAR.com), under Rockyview's SEDAR profile.

The Toronto Stock Exchange has neither approved nor disapproved of the contents of this news release.

Contact Information

  • Rockyview Energy Inc.
    Steve Cloutier
    President and Chief Executive Officer
    (403) 538-5000
    (403) 538-5050 (FAX)
    or
    Rockyview Energy Inc.
    Alan MacDonald
    Vice President, Finance and Chief Financial Officer
    (403) 538-5000
    (403) 538-5050 (FAX)
    Website: www.rockyviewenergy.com