Gibson Energy Inc. announces closing of secondary offering

/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

CALGARY, Nov. 7, 2011 /CNW/ - Gibson Energy Inc. ("Gibson") is pleased to announce the completion of the previously announced "bought deal" secondary offering (the "Secondary Offering") of common shares of Gibson held by R/C Guitar Coöperatief U.A. (the "Selling Shareholder"), pursuant to which the Selling Shareholder sold 16,100,000 common shares (including the exercise in full of the over-allotment option granted to the underwriters to purchase an additional 2,100,000 common shares) at a price of $18.00 per common share for total gross proceeds to the Selling Shareholder of $289,800,000. The offering was conducted through a syndicate of underwriters led by BMO Capital Markets.

Gibson will not receive any proceeds from the Secondary Offering. Following closing, the Selling Shareholder owns approximately 45% of the common shares of Gibson.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities in the United States, in any province or territory of Canada or in any other jurisdiction. The securities to be offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws and may not be offered or sold in the United States absent registration or absent an applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. There shall be no sale of the securities in any jurisdiction in which an offer to sell, a solicitation of an offer to buy or a sale would be unlawful. 

About Gibson

Gibson is one of the largest independent midstream energy companies in Canada and a major participant in the crude oil transportation business in the United States, and is engaged in the movement, storage, blending, processing, marketing and distribution of crude oil, condensate, natural gas liquids, and refined products. Gibson transports hydrocarbons by utilizing its integrated network of terminals, pipelines, storage tanks, and truck fleet located throughout western Canada and the United States.  Additionally, Gibson, through its Canwest Propane subsidiary, is the second largest retail propane distribution company in Canada.

SOURCE Gibson Energy Inc.

For further information:

Ken Hall
Vice President Investor Relations and Communications
(403) 781-2899
ken.hall@gibsons.com

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Gibson Energy Inc.

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