Renegade Petroleum Ltd.

Renegade Petroleum Ltd.

March 30, 2012 12:24 ET

Renegade Petroleum Ltd. Announces Completion of Slave Point Strategic Asset Acquisition

CALGARY, ALBERTA--(Marketwire - March 30, 2012) - Renegade Petroleum Ltd. ("Renegade" or the "Company") (TSX VENTURE:RPL) is pleased to announce that it has closed the previously announced agreement with a publicly traded oil and gas issuer to acquire certain assets in the Senex area of northern Alberta for consideration of $11.0 million plus closing adjustments, a three percent royalty over all properties and the cost to drill, complete and equip the horizontal well which was recently completed by the seller at a total cost of approximately $4.5 million.

Renegade's common shares trade on the TSX Venture Exchange under the symbol RPL. Renegade currently has approximately 89.6 million common shares outstanding and 98.8 million common shares on a fully-diluted basis.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Renegade Petroleum Ltd.
    Michael Erickson
    President & CEO
    (403) 355-8922

    Renegade Petroleum Ltd.
    Alex Wylie
    Vice-President, Finance & CFO
    (403) 410-3376