PetroWorth Resources Inc.

PetroWorth Resources Inc.

December 14, 2011 16:23 ET

PetroWorth Closes Small Financing

CALGARY, ALBERTA--(Marketwire - Dec. 14, 2011) - PetroWorth Resources Inc. (CNSX:PTW) (FRANKFURT:T3F) announced today that it has closed a $100,000 private placement financing, consisting of 2,000,000 Units. Each unit is comprised of one Common Share at $0.05 per share and one-half share purchase Warrant entitling the holder to purchase one Common Share for the exercise price of $0.10 per share at any time during a period of 18 months from closing date of the private placement. In addition, the Corporation issued 120,000 shares and 100,000 warrants to a broker as a commission for the sale. The terms of the broker warrants are same as the Unit warrants.

PetroWorth Resources Inc. is a junior oil and gas exploration company with properties in Alberta and Eastern Canada. The strategy of the company is to conduct aggressive exploration drilling programs on these permitted properties, both in-house and through advantageous farm-in arrangements.


Certain statements contained herein constitute forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe", and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. The Corporation believes the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this report should not be unduly relied upon. The Corporation does not undertake any obligation to publicly update or revise any forward-looking statements. The Corporation has adopted the standard of 6 Mcf:1 BOE when converting natural gas to BOE. BOEs may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 Mcf:1 BOE is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

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