Petroflow Energy Ltd.
TSX VENTURE : PEF

Petroflow Energy Ltd.

June 16, 2008 19:53 ET

Petroflow Energy Ltd. Appoints Investor Awareness, Inc. for Its U.S Investor Relations Program

CALGARY, ALBERTA--(Marketwire - June 16, 2008) - Petroflow Energy Ltd. (TSX VENTURE:PEF) is pleased to announce it has retained the services of Investor Awareness, Inc. ("Investor Awareness") as its U.S. investor relations firm. Chicago-based Investor Awareness, a full-service investor and media relations consulting firm, provides private and publicly traded companies with customized programs to generate awareness among members of the financial community. Investor Awareness specializes in accelerating growth in the value of small to mid-size companies.

Tony Schor, President of Investor Awareness said, "We are pleased to work on behalf of Petroflow Energy Ltd. ("Petroflow") during this exciting phase of anticipated growth. Petroflow's primary development activity continues to be in its Hunton Resource Play in Oklahoma. The Company currently has three drilling rigs running continuously on this successful project. We believe Petroflow is one of the most active public companies in this unique resource play and we look forward to communicating the company's compelling story to our established contacts amongst the investment community."

"Investor Awareness will play an integral role in ensuring we reach the investment community with information about Petroflow," said John Melton, President and CEO of Petroflow. "In view of the initiation of our Extension Program ("Program") in the Hunton Resource Play which includes expanding beyond our current Area of Mutual Interest with Enterra Energy Trust, we are confident the time is right for us to generate awareness and convey our strategy for continued growth. We have drilled 46 wells in this play with solid statistical results and think it is now time to double our efforts in this play." Melton added, "We look forward to Investor Awareness introducing us to the U.S. investment community and we feel they are best qualified to help us reach our current and potential investors with our message."

As part of its compensation, Petroflow Energy has approved the granting of stock options to Investor Awareness to purchase 50,000 common shares under Petroflow Energy's existing Stock Option Plan. Each option entitles the holder to acquire one common share of Petroflow at an exercise price of $5.00, expiring 2 years from the date of grant. The option price was approved on May 13, 2008 and equaled the closing price for the Company's shares on that date. The options vest as to 25% on the date of grant and 25% every 3 months, thereafter in accordance with the policies of the TSX Venture Exchange for options granted to investor relations consultants.

About Petroflow Energy Ltd.:

Petroflow is an independent oil and natural gas company engaged in exploration, development and production of hydrocarbon reserves primarily in the midcontinent region. Additional information about Petroflow can be found at the Company's website: http://www.petroflowenergy.com.

Forward-Looking Statements

This news release contains statements about oil and gas production and operating activities that may constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities legislation as they involve the implied assessment that the resources described can be profitably produced in the future, based on certain estimates and assumptions. Forward-looking statements are based on current expectations, estimates and projections that involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those anticipated by Petroflow and described in the forward-looking statements. These risks, uncertainties and other factors include, but are not limited to, adverse general economic conditions, operating hazards, drilling risks, inherent uncertainties in interpreting engineering and geologic data, competition, reduced availability of drilling and other well services, fluctuations in oil and gas prices and prices for drilling and other well services, government regulation and foreign political risks, fluctuations in the exchange rate between Canadian and US dollars and other currencies, as well as other risks commonly associated with the exploration and development of oil and gas properties. Additional information on these and other factors, which could affect Petroflow's operations or financial results, are included in Petroflow's reports on file with Canadian securities regulatory authorities. We assume no obligation to update forward-looking statements should circumstances or management's estimates or opinions change unless otherwise required under securities law.

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

Contact Information

  • Investor Awareness, Inc.
    Tony Schor
    1-847-945-2222
    or
    Investor Awareness, Inc.
    James Foy
    1-847-945-2222
    Website: www.investorawareness.com
    or
    Macam Investor Relations
    Cameron MacDonald
    (403) 695-1006 or Toll Free: 1-866-264-0743
    Website: www.macamgroup.com
    or
    Petroflow Energy Ltd.
    John Melton
    President & CEO
    (504) 453-2926
    or
    Petroflow Energy Ltd.
    Duncan Moodie
    CFO
    (403) 539-4311
    Website: www.petroflowenergy.com