Nevarro Energy Ltd.

Nevarro Energy Ltd.

October 06, 2005 19:50 ET

Nevarro Announces Offering of Flow-Through Shares

CALGARY, ALBERTA--(CCNMatthews - Oct. 6, 2005) -

(Not for distribution to U.S. newswire services or for dissemination in the United States of America)

NEVARRO ENERGY LTD. (TSX VENTURE:NEL) ("Nevarro") is pleased to announce it has entered into an agreement with a syndicate of agents led by Acumen Capital Finance Partners Limited and including Octagon Capital Corporation for a private placement offering of up to 1,200,000 common shares on a "flow through" basis at a price of $2.55 per share for gross proceeds of up to $3,060,000.

Closing is expected to occur on or about October 21, 2005 and the common shares issued under the offering will be subject to a four month hold period.

The offering is subject to regulatory approval, including approval of the TSX Venture Exchange.

Nevarro is a junior oil and gas company engaged in the exploration, development and production of oil and natural gas in the Western Canadian Sedimentary Basin.

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

Contact Information

  • Nevarro Energy Ltd.
    J.W. Grant Robertson
    Vice-President, Business Development
    (403) 231-1230