NORMAL COURSE ISSUER BID / Maxwell
Maxwell to Re-Purchase Common Shares
CALGARY, ALBERTA--The Board of Directors of Maxwell Oil & Gas Ltd.
wishes to announce that the Company has filed notice with The
Alberta Stock Exchange (the ASE) relating to the re-purchase by
Maxwell of certain of its issued and outstanding common shares,
pursuant to a normal course issuer bid undertaken in accordance
with the rules and by-laws of the ASE. The Company has been
informed that the ASE has accepted its notice to make a normal
course issuer bid. Goepel McDermid, Inc. will be making the
purchases on behalf of Maxwell.
Currently, there are 9,194,969 common shares of Maxwell issued and
outstanding. In connection with the normal course issuer bid
being undertaken, Maxwell may purchase up to 450,000 common
shares, representing less that 5 percent of the total number of
common shares currently outstanding, during the period from
October 1, 1998 to September 30, 1999. Maxwell has not purchased
any common shares during the past 12 months.
In the opinion of the Board, the market price of the common shares
does not accurately reflect the value of those shares. As a
result, from time to time, the common shares may become available
for purchase at prices which make them an attractive investment
and an appropriate use of the Company's funds. It is anticipated
that the purchase of common shares will benefit the remaining
shareholders of Maxwell by increasing their equity interest in the
Company's assets.
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FOR FURTHER INFORMATION PLEASE CONTACT:
Maxwell Oil & Gas Ltd.
Gordon J. Dolph
President, CEO and Director
(403) 232-2232
(403) 265-8049 (FAX)
(800) 830-3203
maxwelloil.com
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