SignalEnergy Inc.
TSX : SGI

May 09, 2006 23:59 ET

SignalEnergy Inc. - Shareholder Update

CALGARY--(CCNMatthews - May 9) - In response to inquiries by shareholders, SignalEnergy Inc. (TSX:SGI) ("Signal") wishes to update its shareholders on potential developments concerning the intention of Pearl Exploration and Production Ltd. ("Pearl") to make an offer (the "Offer") to acquire all of the outstanding shares of Signal, as announced by Pearl on March 27, 2006 and updated on April 18, 2006. The announcements indicated that Pearl anticipated that the Offer and related documents would be mailed to Signal shareholders no later than May 15, 2006.

Signal has no formal agreement with Pearl respecting the Offer and can provide no assurance that the Offer will be made within the announced time, or that the terms of the Offer will be as announced.

Caution to Reader

This news release contains forward-looking statements and the reader is cautioned not to place undue reliance on these statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the forward-looking statements will not occur.

The common shares of Signal have not and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold in the United States or to any U.S. person except in certain transactions exempt from the registration requirements of the U.S. Securities Act and applicable state securities laws.

Contact Information

  • SignalEnergy Inc.
    Mr. J. Cameron Bailey
    President and Chief Executive Officer
    (403) 290-2450
    (403) 398-3366 (Fax)

    OR

    SignalEnergy Inc.
    Jamie Jeffs
    Chief Financial Officer
    Phone: (403) 290-4270
    (403) 398-3366 (Fax)
    Email: jjeffs@signalenergy.com
    Website: www.signalenergy.com