Petro-Reef Resources Ltd.
TSX VENTURE : PER

Petro-Reef Resources Ltd.

August 18, 2005 18:02 ET

Petro-Reef Resources Announces Private Placement

CALGARY, ALBERTA--(CCNMatthews - Aug. 18, 2005) - Petro-Reef Resources Ltd. (TSX VENTURE:PER) ("Petro-Reef" or the "Company") is pleased to announce that pursuant to the terms of the Offering described in its Press Announcement of July 19, 2005, it has completed the first closing of 1,277,776 Units for an aggregate consideration of $575,000. The Company expects the balance of the Offering will be completed on or before September 2, 2005.

Petro-Reef is a publicly traded Canadian energy company involved in the exploration, development and production of natural gas and crude oil in western Canada.

This news release may contain forward-looking information. Actual future results may differ materially from those contemplated. The risks, uncertainties and other factors that could influence actually results are described in documents filed with regulatory authorities.

Common Shares Outstanding: 19,216,713

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

Contact Information

  • Petro-Reef Resources Ltd.
    Joseph Werner
    President
    (403) 265-6444
    (403) 264-1348 (FAX)
    or
    Petro-Reef Resources Ltd.
    2020, 800 - 5th Avenue S.W.
    Calgary, Alberta T2P 3T6
    (403) 265-6444
    (403) 264-1348 (FAX)
    Email: petroreef@shawcable.com