TRAFINA Energy Ltd.

TRAFINA Energy Ltd.

October 01, 2010 17:03 ET

Trafina Energy Ltd. Announces Operations Update, Appointment of Officer, Options Grant and Private Placement

CALGARY, ALBERTA--(Marketwire - Oct. 1, 2010) -


Trafina Energy Ltd. ("Trafina" or "the Company") (TSX VENTURE:TFA.A) announces that wet weather continues to delay completion of the Company's first Cardium oil well in the Pembina area of Alberta. The four kilometre road to the lease and the lease itself are very wet and drying has been slowed by the presence of trees close to the road. The operator considered matting the road and lease at a cost of approximately $750,000, but decided to wait out the weather.

Trafina is pleased to announce that Mr. Edward Marcinew has been appointed Vice President, Exploration, subject to approval from the TSX Venture Exchange. Mr. Marcinew has 27 years of experience in the oil and gas industry and has been serving Trafina as a geological consultant. The Company's board of directors has approved the grant of options to Mr. Marcinew to acquire 70,000 Class A common shares at a price of $0.33 per share with an expiry date of September 29, 2015 subject to the provisions of the Company's stock option plan. Trafina's shares closed at $0.33 per share on Sept. 30, 2010. Mr. Marcinew has also agreed to subscribe for 150,000 shares of the Company at a price of $0.30 per share on a private placement basis. The options grant and the private placement are subject to the approval of, and the Company fulfilling the requirements of, the TSX Venture Exchange.

About Trafina

Trafina is a junior oil and gas company based in Calgary, Alberta. The Company's main area of interest is in Wetaskiwin with operated production in Retlaw and Ronalane in Alberta. Trafina also has non-operated production in Viking/Kinsella, Alberta and the McGuffin area in Saskatchewan and minor interests in Jenner and Carson Creek/Judy Creek, Alberta. Trafina's shares trade on the TSX Venture Exchange under the stock symbol TFA.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)
    Trafina Energy Ltd.
    Robert W. Lamond
    (403) 269-9889
    (403) 269-9890 (FAX)