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Gold/Mining/Energy : Canadian-under $3.00 Stock-Picking Challenge -- Ignore unavailable to you. Want to Upgrade?

To: Al Collard who wrote (10469)	12/10/2002 1:12:23 AM
From: brian krause	Respond to of 11802

The upside may be limited in the short term. should hold steady here. Welcome [Sign In] To track stocks & more, Register Financial News Enter symbol(s) BasicDayWatchPerformanceReal-time MktDetailedChartResearchOptionsOrder Book Symbol Lookup Press Release Source: Tartan Energy Inc. Tartan Announces Proposed Private Placement of up to Six Million Five Hundred Thousand ($6,500,000) Monday December 9, 7:18 pm ET TSX- Venture Exchange Trading Symbol: "TEW" CALGARY, Dec. 9 /CNW/ - Tartan Energy Inc. (the "Corporation") today announced that it proposes to complete a private placement of up to and including 10,833,334 units of the Corporation for a purchase price of $0.60 per unit or an aggregate amount of $6,500,000. Each unit shall consist of one (1) common share and one (1) share purchase warrant. Each share purchase warrant shall entitle the holder thereof to purchase a further common share at an exercise price of $0.75 per share on or before one (1) year from the date of issuance. The use of proceeds from this private placement will be used for development drilling in respect of the Corporation's California properties and for general working capital purposes. It is anticipated that the closing of the private placement will occur prior to the end of December, 2002. The aforesaid private placement is subject to, inter alia, the Corporation obtaining regulatory body approval. The Corporation currently has issued 82,212,250 shares and outstanding. The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. For further information John J. Komarnicki, President and Chief Executive Officer, Telephone: (403) 221-8375 or Jim Clarke, Investor Relations, Toll Free: 1-888-290-1335