FINANCING / RE: Forte Energy Closes Financing
JANUARY 5, 1999
CALGARY, ALBERTA--Forte Energy Ltd. announces that in December,
1998 it closed two financings which raised $3.5 million from the
issuance of 2,187,500 flow through common shares. The shares were
issued through a syndicate of agents lead by FirstEnergy Capital
Corp. and included Griffiths McBurney & Partners and Newcrest
Capital Inc.. The cash will be used to fund a portion of the
company's 1999 exploration and development program.
Forte Energy Ltd. is a private company that is engaging in oil and
gas exploration with a primary focus on natural gas prospects in
higher quality, thoroughbred reservoirs located in Alberta and BC,
primarily west of the 5th meridian. The principals of the company
are T.J. MacKay, Chairman and Chief Executive Officer, Doug Baker,
President and Chief Financial Officer, and R. Bruce Hammond,
Senior Vice President and Chief Operating Officer. |
