Rockyview Energy Inc.
TSX : RVE

Rockyview Energy Inc.

November 22, 2006 08:20 ET

Rockyview Enters into Bought Deal Financing

CALGARY, ALBERTA--(CCNMatthews - Nov. 22, 2006) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Rockyview Energy Inc. (TSX:RVE)("Rockyview") is pleased to announce that it has entered into a private placement common share financing agreement, on a bought deal basis, with an underwriting syndicate led by GMP Securities L.P. and including Westwind Partners Inc., Tristone Capital Inc., BMO Nesbitt Burns Inc. and Dundee Securities Corporation. Rockyview will issue 4,870,000 common shares at a price of $3.00 per share, for total gross proceeds of $14,610,000. Rockyview will use the proceeds of the offering to fund a portion of its 2007 exploration and development activities and for general corporate purposes.

The offering is scheduled to close on or about December 12, 2006 and is subject to customary regulatory approvals and completion of definitive documentation.

This news release shall not constitute an offer to sell or the solicitation of any offer to buy the securities in any jurisdiction. The securities offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act.

Rockyview is a publicly traded independent exploration and development company pursuing conventional oil and natural gas production and reserves as well as coalbed methane development in western Canada. Rockyview is based in Calgary, Alberta.

Reader Advisory - Statements in this news release contain forward-looking information including expectations of future production, operating and financial results. The reader is cautioned that assumptions used in the preparation of such information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Rockyview. These risks include, but are not limited to: the risks associated with the oil and gas industry, commodity prices, and exchange rate changes. Industry related risks include, but are not limited to: operational risks in exploration, development and production, availability of skilled personnel and services, failure to obtain industry partner, regulatory and other third party consents and approvals, delays or changes in plans, risks associated with the uncertainty of reserve estimates, health and safety risks and the uncertainty of estimates and projections of production, costs and expenses. The reader is cautioned not to place undue reliance on this forward-looking information. Rockyview undertakes no obligation to update or revise any forward-looking statements except as required by applicable securities laws.

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

Contact Information

  • Rockyview Energy Inc.
    Steve Cloutier
    President & C.E.O.
    (403) 538-5000
    (403) 538-5050 (FAX)
    or
    Rockyview Energy Inc.
    Alan MacDonald
    Vice President, Finance & C.F.O.
    (403) 538-5000
    (403) 538-5050 (FAX)
    Website: www.rockyviewenergy.com