Spitfire Energy Ltd.
TSX VENTURE : SEL

Spitfire Energy Ltd.

May 13, 2008 15:39 ET

Spitfire Energy Ltd.: News Release

CALGARY, ALBERTA--(Marketwire - May 13, 2008) -

NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

Mr. Keith N. Chase of Calgary, Alberta ("Chase"), the President, Chief Executive Officer and a director of Spitfire Energy Ltd. ("Spitfire" or the "Corporation") (TSX VENTURE:SEL) announces he has acquired direct ownership of 200,000 common shares of Spitfire ("Common Shares") and control over another 200,000 Common Shares acquired by a private company managed by Mr. Chase. Both acquisitions were made through the facilities of the TSX Venture Exchange Inc. at a price of $0.32 per share for an aggregate purchase price of $128,000 in cash. Mr. Chase now beneficially owns, controls or has direction over, directly or indirectly, an aggregate of 4,286,500 Common Shares, representing 10.5% of the Corporation's outstanding voting securities.

Mr. Chase acquired the Common Shares for investment purposes and may, depending on market and other conditions, increase or decrease his beneficial ownership, control or direction over Common Shares, through market transactions, private agreements, treasury issuances, exercise of convertible securities or otherwise.

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

Contact Information

  • Spitfire Energy Ltd.
    Keith N. Chase
    President, Chief Executive Officer, and a director
    (403) 205-3400