Nevarro Energy Ltd.

Nevarro Energy Ltd.

July 25, 2005 18:35 ET

Nevarro Energy Ltd.: News Release

CALGARY, ALBERTA--(CCNMatthews - July 25, 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.

The consideration being offered has been increased by a further $0.10 and is now $2.70 per common share. The revised offer will be now be open for acceptance until August 24, 2005.

Nevarro has been informed by Fortress that financing arrangements which Fortress is undertaking to fund the transaction are not yet finalized. This further extension will provide additional time for Fortress to conclude its financing arrangements.

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
    President of the Corporation
    (403) 231-1235