Caracal Energy Inc. Announces Results of Canadian Open Offer and Global Open Offer

/NOT FOR DISTRIBUTION TO NEWSWIRE SERVICES OR FOR DISSEMINATION OUTSIDE OF CANADA/

CALGARY, Dec. 2, 2013 /CNW/ - Caracal Energy Inc. ("Caracal" or the "Company"), (LSE:CRCL) is pleased to announce that as at 9.30 a.m. (Toronto time) on November 29, 2013 (being the latest time for receipt of valid acceptances), it had received valid acceptances in respect of 3,290,840 new common shares in the capital of the Company (each a "New Share"), representing approximately 14.9% of the total number of New Shares offered to the Company's shareholders pursuant to the Canadian Open Offer and the Global Open Offer.

In accordance with the arrangements described in the Prospectus Supplement dated November 8, 2013 under Caracal's Short Form Base Shelf Prospectus dated October 24, 2013 (the "Prospectus"), the Canadian Conditional Placees and the Global Conditional Placees will subscribe in aggregate for an additional 18,789,274 New Shares representing the balance of the New Shares not validly taken up by shareholders pursuant to the Canadian Open Offer and the Global Open Offer.

It is expected that Open Offer Admission will become effective, and that dealings on the London Stock Exchange in the New Shares will commence, from 8.00 a.m. (London time) on December 5, 2013.

All terms in this announcement have the meanings given to them in the Prospectus unless otherwise defined.

About Caracal Energy Inc.

Based in Canada, Caracal Energy Inc. is an international exploration and development company focused on oil and gas exploration, development and production activities in the Republic of Chad, Africa. In 2011, the Company entered into three production sharing contracts from the government of the Republic of Chad.

Cautionary Statement

This news release contains forward-looking statements. When used in this news release, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "seek", "propose", "estimate", "expect", and similar expressions, as they relate to Caracal or an affiliate of Caracal, are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things, the Open Offer Admission. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such statements reflect Caracal's current views with respect to future events based on certain material factors and assumptions and are subject to certain risks and uncertainties, including without limitation, changes in market, competition, governmental or regulatory developments, general economic conditions and other factors set out in Caracal's public disclosure documents. Many factors could cause Caracal's actual results, performance or achievements to vary from those described in this news release, including without limitation those listed above. These factors should not be construed as exhaustive. Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described in this news release as intended, planned, anticipated, believed, sought, proposed, estimated or expected, and such forward-looking statements included in this news release, should not be unduly relied upon. Such statements speak only as of the date of this news release. Caracal does not intend, and does not assume any obligation, to update these forward-looking statements except as required by law. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

SOURCE: Caracal Energy Inc.

For further information:

Caracal Energy Inc. 
Gary Guidry, President and Chief Executive Officer 
Trevor Peters, Chief Financial Officer 
403-724-7200
 
Longview Communications - Canadian Media Enquiries 
Alan Bayless 
604-694-6035
Joel Shaffer
416-649-8006

Profil de l'entreprise

Caracal Energy Inc.

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