Caracal Energy Inc. Announces Pricing and Placement Details of Previously Disclosed Common Share Offering


CALGARY, Nov. 8, 2013 /CNW/ - Caracal Energy Inc. ("Caracal" or the "Company"), (LSE: CRCL) today announced pricing and placement details of a previously disclosed common share offering.

Caracal has agreed to issue an aggregate of 27,862,994 new common shares (the "New Shares") by way of the Canadian Offer and the Global Offer at a price of U.S.$7.24 per New Share or £4.50 per New Share, for aggregate total proceeds of U.S.$201,829,776.

The Canadian Offer is being underwritten by a syndicate of investment dealers consisting of RBC Dominion Securities Inc., FirstEnergy Capital Corp., Canaccord Genuity Corp. and Barclays Capital Canada Inc.

Caracal intends to apply the principal part of the net proceeds of the Canadian Offer and Global Offer by the end of 2014 to fund the acceleration of its exploration program.

The full details of the Canadian Offer and certain details of the Global Offer will be set out in a Prospectus Supplement under Caracal's Short Form Base Shelf Prospectus dated October 24, 2013, which will be available electronically at

About Caracal Energy Inc.

Based in Canada, Caracal Energy Inc. is an international exploration and development company focused on oil and gas exploration, development and production activities in the Republic of Chad, Africa. In 2011, the Company entered into three production sharing contracts from the government of the Republic of Chad.

Gary Guidry, President and Chief Executive Officer, commented:

"We are pleased to have priced the offer of new shares in an oversubscribed bookbuild and we appreciate the support of our existing shareholders and welcome a number of new institutions on to the register.  The additional funds will enable us to accelerate our exploration programme with the drilling and completion of ten additional exploration wells by the end of 2014."

Cautionary Statement

This news release contains forward-looking statements. When used in this news release, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "seek", "propose", "estimate", "expect", and similar expressions, as they relate to Caracal or an affiliate of Caracal, are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things, the Canadian Offer and the Global Offer and the use of proceeds from the Canadian Offer and the Global Offer. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such statements reflect Caracal's current views with respect to future events based on certain material factors and assumptions and are subject to certain risks and uncertainties, including without limitation, changes in market, competition, governmental or regulatory developments, general economic conditions and other factors set out in Caracal's public disclosure documents. Many factors could cause Caracal's actual results, performance or achievements to vary from those described in this news release, including without limitation those listed above. These factors should not be construed as exhaustive. Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described in this news release as intended, planned, anticipated, believed, sought, proposed, estimated or expected, and such forward-looking statements included in this news release, should not be unduly relied upon. Such statements speak only as of the date of this news release. Caracal does not intend, and does not assume any obligation, to update these forward-looking statements except as required by law. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

SOURCE: Caracal Energy Inc.

For further information:

Caracal Energy Inc.
Gary Guidry, President and Chief Executive Officer
Trevor Peters, Chief Financial Officer


Longview Communications - Canadian Media Enquiries
Alan Bayless
Joel Shaffer


FTI Consulting - UK Media Enquiries
Ben Brewerton / Ed Westropp

+ 44 (0) 207 8313 3113

Profil de l'entreprise

Caracal Energy Inc.

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