Carmen Energy Inc. Announced Closing of Initial Public Offering

CALGARY, Jan. 14 /CNW/ - Carmen Energy Inc. ("Carmen") (TSX Venture: CEI.P) announces it has completed its initial public offering ("Offering") raising gross process of $300,000 pursuant to a capital pool company prospectus dated December 16, 2010. A total of 3,000,000 common shares in the capital of Carmen (the "Shares") were issued at a price of $0.10 per Share. PI Financial Corp. ("PI") acted as the agent for the Offering.  PI received a corporate finance fee and a cash commission equal to 10% of the gross proceeds Offering. In addition PI was issued an option to purchase 300,000 Shares at a price of $0.10 for a period of two years from the date the Shares are listed on the TSX Venture Exchange.

Carmen now has 9,699,500 Shares outstanding, with the directors and officers of Carmen holding, in aggregate, 3,150,000 Shares.

The Shares of Carmen have been conditionally approved for listing on the TSX Venture Exchange and are expected to begin trading within the next week under the stock symbol CEI.P.

About Carmen

Carmen is a capital pool company ("CPC") that has not commenced commercial operations and has no assets other than cash. Except as specifically contemplated in the CPC policies of the TSX Venture Exchange, until the completion of the qualifying transaction, Carmen will not carry on business, other than the identification and evaluation of companies, business or assets with a view to completing a proposed qualifying transaction.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

A Note regarding Forward Looking Information

This press release contains forward-looking statements (collectively "forward-looking information") within the meaning of applicable securities laws regarding the anticipated listing date of the Shares on the TSX Venture Exchange.

The forward-looking information is based on certain key expectations and assumptions made by Carmen's management, including obtaining all necessary approvals of the TSX Venture Exchange. Although Carmen believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Carmen can give no assurance that they will prove to be correct.

These forward-looking statements are made as of the date of this press release and Carmen disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

SOURCE Carmen Energy Inc.

For further information:

Brian Doherty
President, Chief Executive Officer and Director
Carmen Energy Inc.
Telephone: (403) 813-3544

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Carmen Energy Inc.

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