FairWest Energy Corporation
TSX VENTURE : FEC

FairWest Energy Corporation

March 14, 2011 09:15 ET

FairWest Energy Announces Private Placement Offerings of Flow-Through Common Shares and Common Shares

CALGARY, ALBERTA--(Marketwire - March 14, 2011) - FairWest Energy Corporation ("FairWest" or the "Company") (TSX VENTURE:FEC) advises that, subject to regulatory and TSX Venture Exchange ("TSXV") approval, it intends to issue by way of two private placements up to 10 million Flow-Through Common Shares at $0.25 per Common Share ("FT Common Shares") for proceeds of up to $2,500,000 and up to 10 million Common Shares at $0.20 per Common Share ("Common Shares") for proceeds of up to $2,000,000. Proceeds from the FT Common Shares and Common Shares will provide working capital for exploratory and developmental drilling, seismic, completions, workovers and facilities on the Company's properties and for general corporate purposes.

About FairWest Energy

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

READER ADVISORY

This news release may contain assumptions, estimates and other forward-looking statements regarding future events. Such forward-looking statements involve inherent risks and uncertainties and are subject to factors, many of which are beyond the Company's control that may cause actual results or performance to differ materially from those currently anticipated in such statements.

206,384,144 Common Shares Issued

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • FairWest Energy Corporation
    Vern Fauth
    Chief Executive Officer
    (403) 264-4949
    (403) 269-1761 (FAX)
    vfauth@fairwestenergy.com
    or
    FairWest Energy Corporation
    Douglas O. McNichol
    President and Chief Operating Officer
    (403) 264-4949
    (403) 269-1761 (FAX)
    dmcnichol@fairwestenergy.com
    or
    FairWest Energy Corporation
    Marion D. Mackie
    Chief Financial Officer
    (403) 264-4949
    (403) 269-1761 (FAX)
    mmackie@fairwestenergy.com