CORP. / Kensington Energy Normal Course Issuer Bid
KENSINGTON ENERGY LTD.
ASE SYMBOL: KNN.A KNN.B
JULY 10, 1998
CALGARY, ALBERTA--Kensington Energy Ltd. announced today that The
Alberta Stock Exchange has accepted a notice filed by the
Corporation of its intention to make a normal course issuer bid.
The notice provides that the Corporation may, during the 12 month
period commencing July 15, 1998 and ending July 14, 1999, purchase
on The Alberta Stock Exchange up to 483,000 Class A Shares and up
to 161,000 Class B Shares in total, being approximately 10 percent
of the "public float". The price which the Corporation will pay
for any such shares will be the market price at the time of
acquisition. The actual number of Class A Shares which may be
purchased and the timing of any such purchases will be determined
by the Corporation.
The Corporation believes that its Class A Shares and Class B
Shares have been trading in a price range which does not
adequately reflect their value in relation to the Corporation's
business and its future business prospects. As a result,
depending upon future price movements and other factors, the
Corporation believes that its outstanding Class A Shares and Class
B Shares may represent an attractive investment and a desirable
use of a portion of its available funds.
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