SignalEnergy Inc.

April 19, 2005 23:59 ET

SignalEnergy announces normal course issuer bid

CALGARY--(CCNMatthews - April 19) - SignalEnergy Inc. ("Signal") today announced
that, subject to regulatory approval, it intends to purchase certain of its
common shares by way of a normal course issuer bid (the "Bid") through the
facilities of the Toronto Stock Exchange (the "TSX"). Signal may purchase up to
a maximum of 2,104,493 common shares, which represents approximately 5% of its
current issued and outstanding common shares, during the twelve month term of
the Bid, which will commence on April 21, 2005 and terminate on April 20, 2006
or at such earlier date as Signal completes its purchases. In any 30 day period
during the term of the Bid, Signal may purchase up to, but not more than, 2% of
its issued and outstanding common shares. As of April 19, 2005 the Corporation
has 42,089,869 issued and outstanding common shares.

All purchases under the Bid will be effected through the facilities of the TSX
at the then current market price of the common shares of Signal as traded on the
TSX. The Directors of Signal are of the view that the current market price of
the common shares is lower than the net asset value per share and consequently,
the Directors are of the opinion that the repurchase of the common shares
represents a sound business decision for the Corporation. All common shares
purchased under the Bid will be cancelled. Shareholders of Signal will be
advised of the Bid in the next report of Signal to be mailed to Shareholders and
a copy of the Notice of Intention to Make a Normal Course Issuer Bid can be
obtained from Signal without charge.

Signal is a publicly traded company listed on the Toronto Stock Exchange under
the symbol "SGI".

Contact Information

  • Mr. J. Cameron Bailey
    President and Chief Executive Officer
    600, 311 - 6th Avenue S.W.
    Calgary, AB, T2P 3H2
    (403) 398-3345
    (403) 398-3351 (FAX)