Nations Energy Company Ltd.

Tartan Energy Inc.
TSX VENTURE : TEW

Tartan Energy Inc.

October 19, 2005 22:10 ET

Nations Energy's Subsidiary Acquires Additional Shares Under Offer For Tartan Energy; The Offer Has Expired

CALGARY, ALBERTA--(CCNMatthews - Oct. 19, 2005) - Nations Energy Company Ltd. announces that Nations and its subsidiary, 1153298 Alberta Ltd. (the "Offeror"), now own approximately 98.7 million common shares of Tartan Energy Inc. (TSX VENTURE:TEW), representing approximately 86% of the 114,727,870 Tartan shares outstanding at the commencement of the Offeror's offer to acquire all of the Tartan shares not already owned by Nations and its affiliates, and approximately 80% of the total number of Tartan shares that would be outstanding upon the exercise of all outstanding stock options. An aggregate of approximately 78.7 million Tartan shares have been acquired under the offer.

The Offeror has not extended the offer. In light of the foregoing, the offer has expired and is no longer open for acceptance.

Nations is a privately owned Alberta oil and gas company engaged in the exploration for, and the acquisition, development and production of, oil and natural gas reserves internationally. Nations' oil production exceeds 45,000 barrels per day.

Contact Information

  • Nations Energy Company Ltd. and 1153298 Alberta Ltd.
    David G. Wilson
    Executive Vice President
    (403) 206-1420
    (403) 206-1520 (FAX)
    Suite 750, 255 - 5th Avenue S.W., Calgary, Alberta T2P 3G6