E4 Energy Inc.
TSX VENTURE : EFE

E4 Energy Inc.

November 30, 2006 16:20 ET

E4 Energy Announces Completion of Private Placement

CALGARY, ALBERTA--(CCNMatthews - Nov. 30, 2006) -

NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

E4 Energy Inc. (TSX VENTURE:EFE) ("E4" or the "Company") today is pleased to announce the closing of the previously announced $7,000,200 "bought deal" private placement. E4 has issued 3,889,000 flow-through shares at $1.80 per share and are subject to a hold period of four months from closing. Related parties participated for 4.3% of the offering.

The financing was led by Canaccord Capital Corporation and included Dundee Securities Corp., Tristone Capital Inc., and Blackmont Capital Inc.

The net financing proceeds will enable E4 to accelerate the Company's drilling program for the remaining Q4 2006 and the 2007 budget year. To date in Q4, E4 has drilled and cased 2 wells (2.0 net) and expects to drill an additional 4 to 5 wells before year-end.

E4 Energy Inc. is a junior oil and gas company engaged in the exploration for, and development and production of natural gas and crude oil reserves primarily in the provinces of British Columbia and Alberta. E4's common shares trade on the TSX Venture Exchange under the symbol "EFE".

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

ADVISORY

This press release may contain forward-looking statements including management's assessment of future plans and operations, expectations of future production, cash flow and earnings. 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 risks associated with the oil and gas industry (e.g., operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses, and health, safety and environmental risks), acquisitions, commodity price and exchange rate fluctuation and uncertainties resulting from competition from other producers and ability to access sufficient capital from internal and external sources. Additional information on these and other factors that could affect E4's operations and/or financial results are included in E4's reports on file with Canadian securities regulatory authorities.

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

Contact Information

  • E4 Energy Inc.
    Paul Starnino
    President and Chief Executive Officer
    (403) 266-6747
    or
    E4 Energy Inc.
    Franco Civitarese
    Vice President Finance and Chief Financial Officer
    (403) 266-6747