Rockyview Energy Inc.
TSX : RVE

Rockyview Energy Inc.

November 28, 2007 18:48 ET

Rockyview Energy Provides Update on Cash Take-Over Bid for the Company

CALGARY, ALBERTA--(Marketwire - Nov. 28, 2007) - Rockyview Energy Inc. (TSX:RVE) ("Rockyview") announced today that Direct Energy Marketing Limited's ("Direct Energy") take-over bid circular and related documents relating to its all-cash offer (the "Offer") to acquire all of the issued and outstanding common shares on a fully diluted basis (the "Shares") of Rockyview will be mailed to all shareholders of Rockyview on or before December 7, 2007. Rockyview and Direct Energy entered into an agreement to extend the time for the mailing of the take-over bid circular and related documentation from November 29, 2007 to December 7, 2007 to allow for additional time to complete the French translation of the documents. Under the Offer, Direct Energy will acquire all of the Shares at a price of Cdn.$3.16 per Share, valuing the proposed transaction at approximately Cdn.$113.3 million including the assumption of debt. The Offer will be subject to certain customary conditions, including acceptance of the Offer by holders of at least 66 2/3% of the outstanding common shares of Rockyview calculated on a fully diluted basis, excluding Shares that may not be included as part of any minority approval required in respect of a second stage transaction, and receipt of all required regulatory approvals. Full details of the Offer will be included in the formal take-over bid circular and related documents. The Offer, unless extended, will expire 35 days thereafter with anticipated closing in January 2008.

About Rockyview

Rockyview is a Calgary-based company active in the exploration, development and production of natural gas and crude oil in Western Canada. The company's common shares trade on the Toronto Stock Exchange under the symbol "RVE".

Certain statements contained in this document are "forward-looking statements". The projections, estimates and beliefs contained in such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results or events to differ materially from those anticipated in any forward-looking statements. Rockyview believes the expectations reflected in those forward-looking statements are reasonable; however Rockyview cannot provide any assurance that these expectations will prove to be correct.

The Toronto Stock Exchange has neither approved nor disapproved of the contents of this news release.

Contact Information

  • Rockyview Energy Inc.
    Steve Cloutier
    President and Chief Executive Officer
    (403) 538-5000
    (403) 538-5050 (FAX)
    or
    Rockyview Energy Inc.
    Alan MacDonald
    Vice President, Finance and Chief Financial Officer
    (403) 538-5000
    (403) 538-5050 (FAX)
    Website: www.rockyviewenergy.com