Milagro Energy Inc.
TSX : MIG

Milagro Energy Inc.

February 26, 2008 08:36 ET

Toronto Stock Exchange to Delay Delisting of Milagro Energy Inc.

CALGARY, ALBERTA--(Marketwire - Feb. 26, 2008) - Milagro Energy Inc. (TSX:MIG) ("Milagro") announced today that, further to the Company's press release of February 5, 2008, the Toronto Stock Exchange ("TSX") has advised the Company that it has determined to defer the effectiveness of the delisting of the common shares (the "Shares") of Milagro until April 30, 2008 instead of March 5, 2008. Milagro expects that this deferral will allow the Shares to continue to trade on the TSX pending the completion of the proposed take-over bid by Second Wave Petroleum Ltd. announced in the Company's press release of February 22, 2008.

ABOUT MILAGRO

Milagro is an exploration and production company engaged in the acquisition, exploration, development and production of oil and natural gas reserves in western Canada.

READER ADVISORY

Statements in this press release may contain forward-looking information including expectations of the completion of the take-over bid transaction and the status of the Company's listing on the TSX. The reader is cautioned that assumptions used in the preparation of such information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the company. These risks include, but are not limited to, the risks associated with the oil and gas industry, commodity prices, general economic conditions, conditions in the capital markets in Canada and elsewhere and exchange rate changes. Industry related risks could include, but are not limited to, operational risks in exploration, development and production, delays or changes in plans, risks associated with the uncertainty of reserve estimates, health and safety risks and the uncertainty of estimates and projections of production, costs and expenses. The reader is cautioned not to place undue reliance on this forward-looking information. See "Risk Factors" in the Company's annual information form for the year ended December 31, 2006 for a further discussion of risks faced by the Company.

Contact Information

  • Milagro Energy Inc.
    Jeffrey Rekunyk
    CEO
    (403) 693-4006
    or
    Milagro Energy Inc.
    Travis Doupe
    CFO
    (403) 693-4007
    Website: www.milagroenergy.com