TRAFINA Energy Ltd.
TSX VENTURE : TFA.A

TRAFINA Energy Ltd.

June 13, 2012 19:10 ET

Trafina Announces That a Receiver Has Been Appointed by the Court to Liquidate Its Assets and Its Directors Have Resigned

CALGARY, ALBERTA--(Marketwire - June 13, 2012) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.

Trafina Energy Ltd. ("Trafina" or the "Company") (TSX VENTURE:TFA.A)announces that it has been unable to develop a satisfactory plan to repay the indebtedness owing under its facility to its lender and, as a result, it is no longer able to maintain forbearance arrangements with its lender. Accordingly, at the request of Trafina's lender a receiver was appointed today by the court to liquidate Trafina's assets. The Company's assets may not be sufficient to satisfy the indebtedness owing under its facility to its lender or, if sufficient, may not be sufficient to satisfy the Company's other debts and accounts payable. In connection with the appointment today of a receiver by the court, each of Trafina's directors resigned. The TSX Venture Exchange has been notified of these developments and it is expected that Trafina's shares and warrants will be suspended or delisted from trading in due course.

About Trafina

Trafina is a junior oil and gas company based in Calgary, Alberta. The Company's main areas of interest are in the McMullen area of Alberta with other operated and non-operated production in Wetaskiwin. Trafina's shares trade on the TSX Venture Exchange under the stock symbol TFA.A and warrants trade under the stock symbol TFA.WT.A.

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

  • Trafina Energy Ltd.
    Kelly J. Ogle
    President and Chief Executive Officer
    (403) 263-0800
    (403) 263-0811 (FAX)
    info@trafinaenergy.com

    Trafina Energy Ltd.
    Robert W. Lamond
    Chairman
    (403) 269-9889
    (403) 269-9890 (FAX)