CALGARY, Dec. 28 /CNW/ - Result Energy Inc. ("Result", RTE-X) announces
that on December 28, 2007 it completed an expedited non-brokered private
placement of common shares which consisted of 1,250,000 common shares issued
on a flow-through basis for income tax purposes at $0.40 per share (the
"Placement"). The gross proceeds of $500,000 are intended to be used to
finance exploration and development activities, and for general corporate
purposes. Result is required to incur qualifying expenditures totaling
$500,000 by December 31, 2008 and will renounce this amount of Canadian
Exploration Expenses ("CEE") to subscribers effective December 31, 2007.
The securities issued will be subject to a four-month hold period from
the date of closing. Following completion of this placement, Result has
56,141,638 common shares outstanding.
Result Energy Inc. is a publicly traded Canadian energy company involved
in the exploration and development of oil and gas properties in western
Canada. Result trades on the TSX Venture Exchange under the symbol "RTE".
The TSX Venture Exchange does not accept responsibility for the adequacy
and accuracy of this release.
For further information:
For further information: William Matheson, President & CEO, Result
Energy Inc., (403) 777-0007