Rochester Energy Corp.

December 21, 2006 18:55 ET

Rochester Energy Corp. Announces up to $6.0 Million Financing

CALGARY, ALBERTA--(CCNMatthews - Dec. 21, 2006) - Rochester Energy Corp. ("Rochester") is pleased to announce that Rochester has engaged Research Capital Corp. ("Research Capital") as its agent to complete an equity financing by way of private placement on a commercially reasonable efforts basis (the "Offering"). Research Capital has agreed to market an aggregate of up to 11,000,000 Units to residents of Alberta and Saskatchewan for gross proceeds of up to $6.0 million. The Offering will consist of the sale of up to 5,000,000 Flow-Through Units at a price of $0.60 per Flow-Through Unit (each Flow-Through Unit to be comprised of one Common Share of Rochester (issued on a "flow-through" basis) and one Common Share Warrant) and up to 6,000,000 Common Share Units at a price of $0.50 per Common Share Unit (each Common Share Unit to be comprised of one Common Share and one Common Share Warrant). Each Warrant will entitle the holder to purchase one Common Share of Rochester at an exercise price of $1.00 for a period of 24 months following the closing of the Offering. The Offering is expected to close prior to the end of 2006.

Rochester is a junior oil and gas company with head offices in Calgary, Alberta and is a reporting issuer in Alberta, British Columbia and Ontario. Rochester's primary focus is the creation of shareholder value through the identification and implementation of successful development and exploration projects, as well as accretive asset acquisitions.

Common Shares of Rochester are not posted for trading on any stock exchange and are currently subject to cease trade orders in British Columbia and Ontario.

Contact Information

  • Rochester Energy Corp.
    Troy Mochoruk
    Director and CEO
    (403) 618-8989