Rider Resources Ltd. announces completion of equity financing



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

    CALGARY, April 19 /CNW/ - (TSX-RRZ) Rider Resources Ltd. ("Rider" or the
"Company") today announced that it has completed its previously announced
equity financing of 7,500,000 subscription receipts ("Subscription Receipts")
at a price of $7.25 per Subscription Receipt for aggregate gross proceeds of
$54,375,000. The Subscription Receipts were offered on a "bought deal" basis
through a syndicate of underwriters led by FirstEnergy Capital Corp., and
including GMP Securities LP, Scotia Capital Inc., Tristone Capital Inc. and
Orion Securities Inc. (collectively, the "Underwriters").
    Net proceeds of the offering will be used to partially fund the
acquisition of certain interests in west central Alberta assets (the
"Acquisition"). The Acquisition has an effective date of February 1, 2007 and
is expected to close on or about May 15, 2007, with the closing subject to
customary industry conditions. Rider's purchase price payable under the
agreement is approximately $208.0 million, subject to certain closing
adjustments.
    Each Subscription Receipt represents the right to receive one common
share of Rider, without the payment of any additional consideration or further
action, on the closing of the Acquisition. The proceeds from the offering of
Subscription Receipts have been deposited in escrow pending the closing of the
Acquisition. If the Acquisition closes on or before June 30, 2007, the net
proceeds from the offering of the Subscription Receipts will be released to
Rider and used by Rider to pay a portion of the Acquisition price.

    This News Release is not an offer to sell or a solicitation of offers to
by the Subscription Receipts in the United States. The Subscription Receipts
have not been and will not be registered under the United States Securities
Act and may not be offered or sold in the United States except in transactions
exempt from such registration.

    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".





For further information:

For further information: Craig W. Stewart, President and Chief Executive
Officer, (403) 781-2445; or John W. Ferguson, Vice President, Chief Financial
Officer and Corporate Secretary, (403) 781-2446

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