FairWest Energy Corporation

FairWest Energy Corporation

June 24, 2008 11:59 ET

FairWest Announces Private Placement Offering of Up to 10,000,000 Flow Through Common Shares

CALGARY, ALBERTA--(Marketwire - June 24, 2008) - FairWest Energy Corporation ("FairWest") (TSX:FEC) is pleased to announce that, subject to regulatory approval, it intends to offer up to 10,000,000 flow through common shares at $0.20 per flow through common share. The proceeds of up to $2,000,000 will be expended on FairWest's exploration and development program during 2008 and 2009.

It is anticipated that the private placement will close on or prior to July 30, 2008.

This funds from this private placement offering will allow FairWest to continue to expedite development and exploitation plans for the oil and gas resources under the consolidated FairWest lands.

FairWest (TSX:FEC) is a Calgary, Alberta based junior oil and gas company engaged in the acquisition, exploration, development and production of crude oil and natural gas in the provinces of Alberta and Saskatchewan.

Statements in this release which describe FairWest's intentions, expectations or predictions, or which relate to matters that are not historical facts are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties which may cause the actual results, performances or achievements of FairWest to be materially different from any future results, performances or achievements expressed in or implied by such forward-looking statements. FairWest may update or revise any forward-looking statements, whether as a result of new information, future events or changing market and business conditions.

Contact Information

  • FairWest Energy Corporation
    James G. Gettis
    President and Chief Executive Officer
    (403) 264-4949
    FairWest Energy Corporation
    Marion D. Mackie
    Chief Financial Officer
    (403) 264-4949
    (403) 269-1761 (FAX)