Raven Energy Ltd.

Raven Energy Ltd.

September 26, 2005 17:54 ET

Raven Energy Ltd. Completes Private Placement

CALGARY, ALBERTA--(CCNMatthews - Sept. 26, 2005) - Raven Energy Ltd. (TSX VENTURE:RVL) ("Raven") announced today that it has closed its previously announced private placement of 1,500,000 common shares with attached "flow-through" tax benefits to certain insiders and arm's length investors at a price of $2.20 per share for gross proceeds to Raven of $3.3 million. The gross proceeds will be used by Raven for working capital. All of the common shares issued are subject to a hold period, which will expire on January 27, 2006. Raven has paid a cash commission of $38,500 to a registered broker in connection with a portion of the gross proceeds raised by the broker for Raven.

Raven is a public oil and gas exploration, development and production company actively identifying and evaluating exploration prospects in the oil and gas industry in the Province of Alberta.

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

Contact Information

  • Raven Energy Ltd.
    Laurie Smith
    President and Chief Executive Officer
    (403) 264-9058