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Gold/Mining/Energy : KOB.TO - East Lost Hills & GSJB joint venture -- Ignore unavailable to you. Want to Upgrade?

To: NO KA OI! who wrote (4553)	9/9/1999 2:44:00 PM
From: SofaSpud	Read Replies (1) \| Respond to of 15703

Berkley Petroleum Corp. Announces Financing CALGARY, ALBERTA-- NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES Berkley Petroleum Corp. announces it has entered into a "bought deal" financing agreement with a syndicate of underwriters led by Bunting Warburg Dillon Read Inc. to issue from treasury 7,700,000 Common Shares at a price of $16.30 per Common Share. Gross proceeds will be $125,510,000 and closing is expected to occur on or before September 24, 1999, subject to regulatory approval. Proceeds from the issue will be used to fund Berkley's expanded exploration, development and acquisition programs. Berkley Petroleum Corp. is a Canadian company engaged in exploration, development and production of natural gas and crude oil. Berkley's common shares are listed on the Toronto and Alberta stock exchanges under the trading symbol "BKP." This news release shall not constitute an offer to sell, or the solicitation of an offer to buy the securities in any jurisdiction. The common shares offered will not be and have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration, or an applicable exemption from the registration requirement. Berkley Petroleum's News Releases for the past 25 months can be accessed electronically through Canadian Corporate News website at cdn-news.com. -30- FOR FURTHER INFORMATION PLEASE CONTACT: Berkley Petroleum Corp. Michael L. Rose President and CEO (403) 571-3600 berkleypete.com