Petra Petroleum Inc.

Petra Petroleum Inc.

September 09, 2009 16:30 ET

The KMR Trust Files Early Warning Report

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 9, 2009) - The KMR Trust (the "Trust") announces that it has acquired ownership and control of 1,000,000 shares ("Shares") of Petra Petroleum Inc. ("Petra") pursuant to a share purchase agreement with a current shareholder of Petra. Eric Boehnke, who is a director, President and Chief Executive Officer of the Company, is the trustee and a beneficiary of the Trust.

The aggregate of 1,000,000 common shares acquired by the Trust represents 3.82% of the issued and outstanding common shares of Petra.

After giving effect to this acquisition, the Trust owns or controls 4,200,000 common shares of Petra, and options to purchase 500,000 common shares, which collectively represents approximately 17.62% of the issued and outstanding common shares of Petra, calculated on a partially-diluted basis assuming the exercise of the options held by the Trust.

The Trust acquired the Shares for investment purposes. The Trust may in the future increase or decrease its ownership of securities of Petra from time to time depending on the business and prospects of Petra as well as future market conditions.

A copy of the Early Warning Report being filed with the applicable securities regulators regarding the transaction will be available on SEDAR ( A copy of the Early Warning Report and further information may also be obtained by contacting Petra at 604 484-2405.

The KMR Trust
307 - 1178 Hamilton Street
Vancouver, BC, V6B 2S2

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Petra Petroleum Inc.
    604 484-2405