Westbow Energy Inc.

Everest Energy Corporation

January 31, 2006 10:40 ET

Westbow Energy Inc.: Amalgamation with Everest Energy Corporation

CALGARY, ALBERTA--(CCNMatthews - Jan. 31, 2006) - Westbow Energy Inc. (TSX VENTURE:WBW) ("Westbow" or the "Company") announces that on January 24, 2006 the Company made its final submission to the TSX Venture Exchange (the "Exchange"), and, subject to the Exchange's final approval, trading in the shares of the amalgamated entity Westbow Energy Inc. is expected to commence in early February, 2006.

Further to the Everest news release dated December 9, 2005 and pursuant to the amalgamation, cash of $310,000 related to the sale of the Siphon assets of Everest to Tripoint Energy Ltd. was released to Westbow and will be utilized for the drilling program and ongoing working capital requirements.

On January 31, 2006 the Board of Directors of Westbow approved the issuance of 25,000 stock options to Charles Vander Griendt, Director, The stock options have an exercise price of $0.50 with an expiry date of five years from the date of the grant, and are subject to the terms of the Westbow Stock Option Plan which was adopted as part of the amalgamation.

The TSX Venture Exchange has neither approved nor disapproved the information contained herein and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Westbow Energy Inc.
    Daniel P. O'Neill
    President & CEO
    (403) 269-1995
    Westbow Energy Inc.
    J. L. Holloway
    Vice President Finance
    (403) 269-1995
    (403) 269-1994 (FAX)