CALGARY, Sept. 19 /CNW/ - Angle Energy Inc. ("Angle") announced today
that it has filed a Notice of Intention to Make a Normal Course Issuer Bid
(the "Notice") with The Toronto Stock Exchange (the "TSX") and that the TSX
has accepted the Notice. Under the bid, Angle will have the right to purchase
for cancellation, commencing September 24, 2008, 1,941,000 of its common
shares representing approximately 5% of its outstanding common shares over the
following twelve months through the facilities of the TSX. Angle currently has
38,834,074 common shares outstanding, and the average trading volume for the
months of July and August was 170,488.
The normal course issuer bid will remain in effect until the earlier of
September 23, 2009, or until Angle has purchased the maximum number of shares
permitted under the bid.
Management and the directors of Angle believe that common shares may
become available during the proposed purchase period at prices which make them
an attractive investment for Angle.
Angle Energy Inc. was founded in 2004 for the purposes of participating
in oil and gas exploration, development and production in Canada. The
Company's focus is on generating and developing its own prospects and on the
acquisition of undeveloped lands directly or through farm-ins. At present,
Angle has two principal producing properties, both located in west central
Alberta and two emerging prospects also located in Alberta. Both emerging
projects are targeting large conventional gas plays.
For further information:
For further information: Gregg Fischbuch, President and Chief Executive
Officer, T: (403) 263-4534, firstname.lastname@example.org; Stuart Symon, Chief
Financial Officer, T: (403) 263-4534, email@example.com; Heather
Christie-Burns, Chief Operating Officer, T: (403) 263-4534,