TriStar Oil & Gas Ltd. - Press Release



    /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN
    THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY
    CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW/

    Toronto Stock Exchange Symbol "TOG"

    CALGARY, March 16 /CNW/ - TriStar Oil & Gas Ltd. ("TriStar") is pleased
to announce that it has completed its previously announced bought deal private
placement financing of 1,700,000 common shares issued on a flow-through basis
at an issue price of $6.00 per common share, resulting in gross proceeds of
$10,200,000. The underwriting syndicate was led by Orion Securities Inc. and
included FirstEnergy Capital Corp., GMP Securities L.P., Tristone Capital
Inc., BMO Capital Markets Ltd., TD Securities Inc., Haywood Securities Inc.
and National Bank Financial Inc.
    The flow-through common shares issued pursuant to the private placement
will be subject to a four month hold from the date of closing of the private
placement.
    Proceeds from this financing will be used to fund the company's ongoing
exploration opportunities.

    TriStar Oil & Gas Ltd. is a Calgary based company active in the
acquisition, exploration, development and production of crude oil and natural
gas in Western Canada.

    This press release shall not constitute an offer to sell or the
solicitation of an offer to buy the securities in any jurisdiction. The common
shares offered have not and will not be registered under the United States
Securities Act of 1933, as amended (the "U.S. Securities Act") or any state
securities laws and many not be offered or sold in the United States except in
certain transactions exempt from the registration requirements of the U.S.
Securities Act and applicable states securities laws.

    THE TORONTO STOCK EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
    RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
    %SEDAR: 00023171E




For further information:

For further information: Brett Herman, President and Chief Executive
Officer, TriStar Oil & Gas Ltd., Telephone: (403) 268-7800, Fax: (403)
218-6075; Jason J. Zabinsky, Vice President, Finance and Chief Financial
Officer, TriStar Oil & Gas Ltd., Telephone: (403) 268-7800, Fax: (403)
218-6075

Organization Profile

TriStar Oil & Gas 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