Sinopec Daylight Energy Ltd.
TSX : DAY
TSX : DAY.DB.C
TSX : DAY.DB.D

January 23, 2012 09:15 ET

Sinopec Daylight Energy Ltd. Completes Redemption of Its 10% Series C Convertible Unsecured Subordinated Debentures

CALGARY, ALBERTA--(Marketwire - Jan. 23, 2012) - Sinopec Daylight Energy Ltd. ("Sinopec Daylight") (TSX:DAY) (TSX:DAY.C) (TSX:DAY.D) is pleased to announce that it has completed the previously announced redemption of all of its 10% Series C Convertible Unsecured Subordinated Debentures (the "Series C Debentures"). The Series C Debentures were redeemed by way of a cash payment in the aggregate amount of $73,425,450. All interest accrued and unpaid on the Series C Debentures up to but excluding the redemption date was also paid in cash. The redeemed Series C Debentures have been cancelled and will be de-listed from the Toronto Stock Exchange at the close of markets on January 23, 2012.

All amounts stated herein are in Canadian dollars.

ADVISORY:

Forward-Looking Information and Statements

This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking statements or information.

Factors that could affect such forward looking statements or information are included in reports on file with applicable securities regulatory authorities, including but not limited to: Daylight Energy Ltd.'s Annual Information Form for the year ended December 31, 2010, Daylight Energy Ltd.'s Notice of Annual General Meeting and Information Circular and Proxy Statement dated April 14, 2011 and Daylight Energy Ltd.'s Notice of Special Meeting and Information Circular and Proxy Statement dated November 1, 2011, each of which may be accessed on Daylight Energy Ltd.'s SEDAR profile at www.sedar.com.

The forward-looking statements and information contained in this press release are made as of the date hereof and Sinopec Daylight undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

Contact Information