Tajzha Ventures Ltd.

Tajzha Ventures Ltd.

July 10, 2007 15:06 ET

Tajzha Increases Private Placement Up to $1,500,000

CALGARY, ALBERTA--(Marketwire - July 10, 2007) -


Due to the oversubscription of its non-brokered private placement announced on May 28, 2007, Tajzha Ventures Ltd. ("Tajzha") (TSX VENTURE:TJZ) is pleased to announce that it has received conditional listing approval to increase the private placement by 2,500,000 Units of Tajzha at a subscription price of $0.30 per Unit or 2,142,857 Flow-Through Units at a subscription price of $0.35 per Flow-Through Unit, or any combination of Units and Flow-Through Units, for additional gross proceeds of up to $750,000.

Accordingly, the maximum aggregate private placement is up to 5,000,000 Units of Tajzha at a subscription price of $0.30 per Unit or up to 4,285,714 Flow-Through Units at a subscription price of $0.35 per Flow-Through Unit, or any combination of Units and Flow-Through Units for maximum gross proceeds of up to $1,500,000. Please refer to Tajzha's press release issued on May 28, 2007 for the terms of the Units and the Flow-Through Units.

During the course of 2007, Tajzha has: (i) closed the acquisition of a 75% working interest in a shut-in oil and gas property located in the Provost area in East Central Alberta; (ii) signed a participation and option agreement to earn a 10% working interest in a natural gas test well in the Kotcho area of northeastern British Columbia that has been drilled to 2,056 meters to date with an option to participate in further wells; and (iii) entered into an agreement with an arm's length company to purchase producing oil and gas assets in the Davey Lake Area of Alberta.

Tajzha is a junior oil and natural gas company based in Calgary, Alberta with core natural gas properties located in the Provost Area, Alberta and a high impact drilling venture located in North-eastern British Columbia. Tajzha's Common Shares trade on the TSX Venture Exchange under the symbol "TJZ".

Certain statements in this material may be "forward-looking statements" including outlook on oil and gas prices, estimates of future production, estimated completion dates of acquisitions and construction and development projects, business plans for drilling and exploration, estimated amount and timing of capital expenditures and anticipated future debt levels and royalty rates. Information concerning reserves contained in this material may also be deemed forward-looking statements as such estimates involve the implied assessment that the resources described can be profitably produced in the future. These statements are based on current expectations, estimates and projections that involve a number of risks and uncertainties, which could cause actual results to differ from those anticipated by the Company.

The term barrels of oil equivalent ("boe") may be misleading, particularly if used in isolation. A boe conversion ratio of six thousand cubic feet per barrel (6mcf/bbl) of natural gas to barrels of oil equivalence is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. All boe conversions in the report are derived from converting gas to oil in the ratio mix of six thousand cubic feet of gas to one barrel of oil.

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

Contact Information

  • Tajzha Ventures Ltd.
    Ronnie D. Doman
    (250) 246-4791
    Tajzha Ventures Ltd.
    Terry O. Lashman
    (604) 684-7929 or 1-800-665-2454
    CHF Investor Relations
    Alison Tullis
    Account Manager
    (416) 868-1079 ext. 233