Petro-Reef Resources Ltd.
TSX VENTURE : PER

Petro-Reef Resources Ltd.

November 15, 2005 18:49 ET

Petro-Reef Resources Ltd.: News Release

CALGARY, ALBERTA--(CCNMatthews - Nov. 15, 2005) - Petro-Reef Resources Ltd. (TSX VENTURE:PER) announces that the following two-page fact sheet regarding the company has been prepared and filed on SEDAR.

The fact sheet is available on CCNMatthews website at: http://www.ccnmatthews.com/docs/Per1115a.pdf

Reference is made to barrels of oil equivalent (boe). Barrels of oil equivalent (boe) may be misleading, particularly if used in isolation. In accordance with NI 51-101, a boe conversion ratio for natural gas of 6 Mcf:1bbl has been used, which is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

Forward-Looking Statements: All statements, other than statements of historical fact, set forth in this news release, including without limitation, assumptions and statements regarding reservoirs, resources and reserves, future production rates, exploration and development results, financial results, and future plans, operations and objectives of the Corporation are forward-looking statements that involve substantial known and unknown risks and uncertainties. Some of these risks and uncertainties are beyond management's control, including but not limited to, the impact of general economic conditions, industry conditions, fluctuation of commodity prices, fluctuation of foreign exchange rates, environmental risks, industry competition, availability of qualified personnel and management, availability of materials, equipment and third party services, stock market volatility, timely and cost effective access to sufficient capital from internal and external sources. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable by the Corporation at the time of preparation, may prove to be incorrect. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

Common Shares Outstanding 21,438,924

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

Contact Information

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