Sierra Vista Energy Ltd.

Sierra Vista Energy Ltd.

October 14, 2005 10:02 ET

Sierra Vista Energy Ltd. Has Closed $13,000,000 IPO

CALGARY, ALBERTA--(CCNMatthews - Oct. 14, 2005) -

Not for dissemination in the United States or to U.S. persons

Sierra Vista Energy Ltd. ("Sierra Vista" or the "Corporation") is pleased to announce it has closed the previously announced IPO with Dundee Securities Corporation as sole agent. A total of 13,000 flow-through units ("Units") were issued at $1,000 per unit for total gross proceeds of $13,000,000. Each unit consists of 400 flow-through Class A Shares at a price of $0.25 per share and 90 flow-through Class B Shares at a price of $10 per share. The offering was oversubscribed.

The listing of the Class A and Class B shares on the TSX Venture Exchange is expected to occur in approximately one week under trading symbols SVR.a and SVR.b.

Sierra Vista is an Alberta-based company formed to participate in oil and natural gas exploration, development production and acquisitions in Western Canada. Sierra Vista currently has eight strategic farm-in's focusing on the Peace River Arch and South Central Alberta area. The Company has 15 drill-ready multi-zone locations on approx 13,000 acres with additional follow-up opportunities.

Forward-Looking statements: This document contains statements about future events that are forward looking in nature and, as a result, are subject to certain risks and uncertainties such as changes in plans or the occurrence of unexpected events. Actual results may differ from the estimates provided by management.

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

Contact Information

  • Sierra Vista Energy Ltd.
    Mr. Mark Malouin
    President & Chief Executive Officer
    (403) 265-9393 x201
    (403) 215-9254 (FAX)