Tourmaline Oil Corp.
TSX : TOU

Tourmaline Oil Corp.
Cinch Energy Corp.
TSX : CNH

Cinch Energy Corp.

July 12, 2011 12:28 ET

Tourmaline Oil Corp. Completes Acquisition of Cinch Energy Corp.

CALGARY, ALBERTA--(Marketwire - July 12, 2011) - Tourmaline Oil Corp. (TSX:TOU) ("Tourmaline") and Cinch Energy Corp. (TSX:CNH) ("Cinch") jointly announce the completion of Tourmaline's previously announced acquisition of all of the outstanding Cinch common shares pursuant to an arrangement under the Business Corporations Act (Alberta) (the "Arrangement"). Under the Arrangement, which was approved by Cinch shareholders by a 99.9% majority, Cinch shareholders received 0.06366 of a Tourmaline common share for each Cinch common share resulting in the issue of approximately 6.4 million Tourmaline common shares. It is anticipated that the Cinch common shares will be delisted from trading on the TSX on or about July 18, 2011.

Peters & Co. Limited acted as exclusive financial advisor to Tourmaline and RBC Capital Markets acted as exclusive financial advisor to Cinch with respect to the Arrangement.

About Tourmaline Oil Corp.

Tourmaline is a Canadian intermediate crude oil and natural gas exploration and production company focused on long-term growth through an aggressive exploration, development, production and acquisition program in the Western Canadian Sedimentary Basin.

Contact Information

  • Tourmaline Oil Corp.
    Michael Rose
    Chairman, President and Chief Executive Officer
    (403) 266-5992
    rose@tourmalineoil.com

    Tourmaline Oil Corp.
    Brian Robinson
    Vice President, Finance and Chief Financial Officer
    (403) 767-3587
    robinson@tourmalineoil.com

    Tourmaline Oil Corp.
    Scott Kirker
    Secretary and General Counsel
    (403) 767-3593
    kirker@tourmalineoil.com

    Tourmaline Oil Corp.
    Suite 3700, 250 - 6th Avenue S.W.
    Calgary, Alberta T2P 3H7
    (403) 266-5992
    (403) 266-5952 (FAX)
    www.tourmalineoil.com