CALGARY, March 5, 2013 /CNW/ - Calvalley Petroleum Inc. ("Calvalley" or
the "Company") announces that is has taken up and paid for 15 million
of its outstanding Class A common voting shares ("Shares") at a
purchase price of $2.45 per Share pursuant to its issuer bid (the
"Offer") to purchase up to 15 million Shares. The purchased Shares
represent approximately 15.9% of the outstanding Shares prior to giving
effect to the Offer. After giving effect to the Offer, Calvalley has
79,365,826 Shares issued and outstanding.
As previously announced, the Offer was oversubscribed, and as such
shareholders (other than "odd lot" shareholders) had approximately
35.06% of the Shares tendered to the Offer purchased by Calvalley.
Certificates representing Shares not purchased under the Offer,
including Shares not purchased due to proration, will be returned to
shareholders as soon as practicable.
About Calvalley Petroleum Inc.
Calvalley is an international oil and gas company, with offices in
Calgary, Alberta, Canada, that operates its 50% working interest in
Block 9 of the Masila Basin, in The Republic of Yemen.
SOURCE: Calvalley Petroleum Inc.
For further information:
firstname.lastname@example.org or +1 (403) 297-0490
Edmund Shimoon, Chairman and CEO
Gerry Elms, CFO