NuVista and Rider announce mailing of Joint Information Circular and Proxy Statement with respect to Plan of Arrangement



    CALGARY, Feb. 5 /CNW/ - NuVista Energy Ltd. ("NuVista") (TSX: NVA) and
Rider Resources Ltd. ("Rider") (TSX: RRZ) are pleased to announce that the
Joint Information Circular and Proxy Statement (the "Information Circular")
with respect to the previously announced business combination of NuVista and
Rider will be mailed to shareholders of record on February 5, 2008. The
business combination will be effected by way of a Plan of Arrangement (the
"Arrangement"). The Information Circular contains a detailed description of
the Arrangement and is available on SEDAR (www.sedar.com) as well as on each
of the NuVista and Rider websites (www.nuvistaenergy.com and www.riderres.com,
respectively). The special meeting of the shareholders of NuVista to vote on
the Arrangement will be held on Monday, March 3, 2008 at 9:00 a.m. (Calgary
time) and the special meeting of the shareholders of Rider to vote on the
Arrangement will be held on Monday, March 3, 2008 at 10:00 a.m. (Calgary time)
(collectively, the "Meetings"). Both Meetings will be held at the same
location in the Strand/Tivoli Room, Metropolitan Centre, 333-4th Avenue S.W.,
Calgary, Alberta.
    The Arrangement is expected to close on or about March 4, 2008.
Completion of the Arrangement is subject to, among other conditions, the
approval of the Court of Queen's Bench of Alberta, receipt of all necessary
regulatory approvals, the approval by at least 66 2/3% of the votes cast by
Rider shareholders who vote at the Rider Meeting, the approval by a majority
of the votes cast by NuVista shareholders who vote at the NuVista Meeting, and
the prior or concurrent completion of an investment by Ontario Teachers'
Pension Plan Board of 6,000,000 units of NuVista ("Units") for gross proceeds
of $84,000,000. Each Unit consists of one NuVista share and one-half of a
warrant of NuVista, each of which whole NuVista warrant entitles the holder
thereof to acquire, subject to adjustment, one NuVista share for $15.50,
expiring twelve months from the date of issuance of the NuVista warrants.
    All NuVista shareholders and Rider shareholders are encouraged to vote in
person or by proxy at their respective Meetings.

    About NuVista
    -------------
    NuVista is an independent Canadian oil and natural gas exploration,
development and production company with its common shares trading on the
Toronto Stock Exchange under the symbol "NVA".

    About Rider
    -----------
    Rider is an independent Canadian oil and natural gas exploration,
development and production company with its common shares trading on the
Toronto Stock Exchange under the symbol "RRZ".

    Advisory Regarding Forward-Looking Statements
    ---------------------------------------------
    This press release contains forward-looking statements and
forward-looking information within the meaning of applicable securities laws.
The use of any of the words "expect", "anticipate", "may", "will", "should",
"believe", and similar expressions are intended to identify forward-looking
information or statements. The forward-looking statements and information are
based on certain key expectations and assumptions made by NuVista and Rider,
including expectations and assumptions concerning the timing of receipt of
regulatory and securityholder approvals. Although NuVista and Rider believe
that the expectations and assumptions on which such forward-looking statements
and information are based are reasonable, undue reliance should not be placed
on the forward-looking statements and information because NuVista and Rider
can give no assurance that they will prove to be correct. Since
forward-looking statements and information address future events and
conditions, by their very nature they involve inherent risks and
uncertainties. This press release contains forward-looking statements and
information concerning the anticipated completion of the proposed Arrangement
and the anticipated timing for completion of the Arrangement. NuVista and
Rider have provided these anticipated times in reliance on certain assumptions
that they believe are reasonable at this time, including assumptions as to the
timing of receipt of the necessary regulatory and court approvals and the time
necessary to satisfy the conditions to the closing of the Arrangement. These
dates may change for a number of reasons, including unforeseen delays in
preparing meeting materials, inability to secure necessary regulatory or court
approvals in the time assumed or the need for additional time to satisfy the
conditions to the completion of the Arrangement. Accordingly, readers should
not place undue reliance on the forward-looking statements and information
contained in this press release concerning these times. Readers are cautioned
that the foregoing list of factors is not exhaustive. Additional information
on these and other factors that could affect NuVista's, Rider's or the
combined company's operations or financial results are included in reports on
file with applicable securities regulatory authorities and may be accessed
through the SEDAR website (www.sedar.com), in the case of NuVista, at
NuVista's website (www.nuvistaenergy.com), and in the case of Rider, at
Rider's website (www.riderres.com). The forward-looking statements and
information contained in this press release are made as of the date hereof and
NuVista and Rider undertake no obligation to update publicly or revise any
forward-looking statements or information, whether as a result of new
information, future events or otherwise, unless so required by applicable
securities laws.





For further information:

For further information: NuVista Energy Ltd., Alex G. Verge, President
and Chief Executive Officer, Tel: (403) 538-8501; or Robert F. Froese, Vice
President, Finance and Chief Financial Officer, Tel: (403) 538-8530, E-mail:
inv_rel@nuvistaenergy.com, Website: www.nuvistaenergy.com; Rider Resources
Ltd., Craig W. Stewart, President and Chief Executive Officer, Tel: (403)
781-2445; or John W. Ferguson, Vice President, Chief Financial Officer and
Corporate Secretary, Tel: (403) 781-2446, E-mail: info.rider@riderres.com,
Website: www.riderres.com

Organization Profile

RIDER RESOURCES LTD.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890