FINANCING / NCE buys Canadian 88 shares
NCE limited partnerships buy $4.0 million offlow-through shares of Canadian 88 Energy Corp.
TORONTO, ONTARIO--
John Driscoll, President of NCE Resources Group, announced today that NCE Resource (97) Limited Partnership and NCE Flow-Through (98) Limited Partnership have made flow-through investments by purchasing 333,350 and 333,320 common shares respectively of Canadian 88 Energy Corporation [AMEX:EEE - news], worth a total of $4.0 million. The purchase was completed for a price of $6.00/ share.
Canadian 88 Energy Corporation
Canadian 88 Energy Corporation :
- is a publicly traded company with a market capitalization of over $500 million;
- is one of the leaders in the use of large-scale, high resolution 3-D Foothills seismic programs;
- is predominantly a gas-oriented company with a focused strategy of exploring for deep, liquids-rich natural gas prospects;
- has one of the largest Foothills Corridor land holdings in the prolific ''west 5'' area of Alberta and is one of the leading deep drillers in the area;
- is involved in several high impact exploration and development areas includin Caroline, Waterton and Wildcat Hills.
The company benefits from a strong management team led by Greg Noval and J. P. Bryan.
The Partnerships
The Partnerships have been organized to invest in flow-through shares of public resource companies with the objective of achieving capital appreciation for the Limited Partners. The Partnerships invest primarily in companies that are involved in oil and gas exploration, development and/or production and, to a lesser extent, can also invest in companies involved in mineral exploration, development and/or production.
NCE Resources Group
The Partnership's General Partner is a member of the NCE Resources Group, which was formed in 1984 as an oil and gas investment management organization. NCE provides a full range of technical, operational, administrative and investor services.
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Contact:
FOR FURTHER INFORMATION PLEASE
NCE Resources Group
Investor Services (investor enquiries)
(416) 364-9297 or 1-888-739-4623
info@nceresources.com
www.nceresources.com
or
Jim Wright (media enquiries)
416-364-8788 or 1-800-563-4623
or
NCE Resources Group
130 King Street West, Suite 2850, P.O. Box 104
Toronto, Ontario, M5X 1A4
The Toronto Stock Exchange has neither approved nor disapproved of
the transaction.
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