Diaz announces Normal Course Issuer Bid



    CALGARY, Sept. 29 /CNW/ - Diaz Resources Ltd. announces that it has filed
notice with The Toronto Stock Exchange ("the Exchange") to make a Normal
Course Issuer Bid (the "Bid"), to purchase through the facilities of the
Exchange, from time to time, as it considers advisable, up to 670,000 of the
issued and outstanding Common Shares (being approximately 1% of the 67,191,652
Common Shares outstanding at September 25, 2008).
    The Bid will commence on October 1, 2008 and terminate on the earlier of
September 30, 2009 or the date on which Diaz acquires all of the shares sought
pursuant to the Bid. The price which Diaz will pay for any shares purchased by
it will be the prevailing market price of such shares on the Exchange at the
time of purchase. Any shares acquired by Diaz pursuant to the Bid will be
cancelled.
    Pursuant to a normal course issuer bid through the facilities of the
Exchange that commenced on September 26, 2007, during the prior 12 months Diaz
purchased 73,900 Common Shares at an average cost of $0.25 per share. All
shares were purchased on the Exchange and have been cancelled. The average
trading volume for Diaz during the prior six month period of March 2008 to
August 2008 was 80,941 shares per day.
    Diaz believes that, from time to time, the purchase of Common Shares will
increase the proportionate interest of, and be advantageous to, all remaining
shareholders.

    Diaz is an oil and gas exploration and production company based in
Calgary, Alberta. Diaz's current focus is on deep gas exploration in Texas and
on shallow gas developments in southern Alberta and natural gas exploration in
central and southern Alberta.

    Forward-looking statements - the press release today contains
"forward-looking" information. Actual results could differ materially from the
conclusions, forecasts or projections in the forward-looking information.
Certain material factors and assumptions were applied in drawing the
conclusions or making the forecasts or projections as reflected in the
forward-looking information. Additional information about the material factors
that could cause actual results to differ materially from the conclusion,
forecast or projection in the forward-looking information and the material
factors or assumptions that were applied in drawing the conclusion or making
the forecast or projection as reflected in the forward-looking information is
contained in the press release.

    
    THE TORONTO STOCK EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
    RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
    





For further information:

For further information: Robert W. Lamond, Chairman - or - Brad R.
Perry, Chief Financial Officer, DIAZ RESOURCES LTD., Telephone: (403)
269-9889, Fax: (403) 269-9890, Website: www.diazresources.com, Email:
info@diazresources.com, TSX: DZR

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DIAZ RESOURCES LTD.

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