LRP V Luxembourg Holdings S.a r.l.

June 29, 2009 14:21 ET

LRP V Luxembourg Holdings S.a r.l. Announces Acquisition of 3,900,000 Common Shares of Xtreme Coil Drilling Corp.

CALGARY, ALBERTA--(Marketwire - June 29, 2009) -

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

LRP V Luxembourg Holdings S.a r.l. ("LRP") announces that it has acquired 3,900,000 common shares ("Purchased Shares") of Xtreme Coil Drilling Corp. ("XDC") at a price of $3.90 pursuant to a short form prospectus of XDC dated June 23, 2009 (the "Offering"). After giving effect to the common shares issued pursuant to the Offering, the Purchased Shares represent approximately 7.38% of the outstanding common shares of XDC.

Following completion of the acquisition of the Purchased Shares, LRP holds 7,240,540 common shares representing approximately 13.71% of the outstanding common shares of XDC.

LRP acquired the Purchased Shares for investment purposes. LRP may in the future take such actions in respect of its shareholdings in XDC as it may deem appropriate in light of the circumstances then existing, including the purchase of additional shares or other securities of XDC through open market purchases or privately negotiated transactions, or the sale of all or a portion of its holdings in the open market or in privately negotiated transactions to one or more purchasers.

A copy of LRP's related early warning report filed with the applicable securities commissions and further information may be obtained by contacting Eric Vanderkerken or Hamish Hector Lawrence Ross, the Managers of LRP.

Contact Information

  • LRP V Luxembourg Holdings S.a r.l.
    Eric Vanderkerken
    Manager
    352 268 901
    352 268 901 69 (FAX)
    or
    LRP V Luxembourg Holdings S.a r.l.
    Hamish Hector Lawrence Ross
    Manager
    352 268 901
    352 268 901 69 (FAX)