Nevarro Energy Ltd.

Nevarro Energy Ltd.

June 10, 2005 17:05 ET

Nevarro Energy Ltd.: News Release

CALGARY, ALBERTA--(CCNMatthews - June 10, 2005) -

Not for distribution to United States newswire services or for dissemination in the United States.

Nevarro Energy Ltd. (TSX VENTURE:NEL) ("Nevarro") announces that Fortress Financial Corp. ("Fortress") has mailed a notice of extension and variation of its previously mailed cash offer to the Nevarro shareholders to acquire by way of take-over bid all of the outstanding Nevarro common shares at a price of $2.50 per share.

The offer will be now be open for acceptance until June 22, 2005 in order to allow more time for shareholders to tender their shares. The offer is subject to the condition that at least 90% of the common shares are tendered, among other conditions. As at June 9, 2005, less than 90% of the common shares had been tendered.

Nevarro is a an oil and gas exploration, development and production company with production in Alberta and Saskatchewan.

Fortress Financial Corp. is a private Alberta company whose main business is to finance and invest in oil and natural gas properties.

The TSX Venture Exchange 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
    Nevarro Energy Ltd.
    Rick Bennett
    (403) 231-1235