CALGARY, Aug. 14 /CNW/ - Compton Petroleum Corporation ("Compton") is
pleased to announce that its wholly owned subsidiary, Compton Petroleum
Acquisition Limited (the "Offeror") has, pursuant to its July 5, 2007 offer
(the "Offer") to acquire all of the outstanding common shares (the "Stylus
Shares") of Stylus Energy Inc. ("Stylus"), received to date tenders of
26,551,650 Stylus Shares, representing approximately 99.68% of the outstanding
Stylus Shares, excluding the Stylus Shares already held by the Offeror or its
Since all of the conditions to the Offer have been satisfied, the Offeror
has taken up, and will within the time prescribed by applicable law, pay for
all of the Stylus Shares validly deposited pursuant to the offer and not
withdrawn prior to August 14, 2007, and intends to acquire the balance of the
Stylus Shares not acquired pursuant to the Offer by way of a compulsory
acquisition pursuant to the provisions of the Business Corporations Act
(Alberta) on the same terms (including the offer price) as the Stylus Shares
acquired under the Offer.
Compton Petroleum Corporation is a Calgary-based public company actively
engaged in the exploration, development, and production of natural gas,
natural gas liquids, and crude oil in the Western Canada Sedimentary Basin.
Compton's shares are listed on the Toronto Stock Exchange under the symbol
"CMT" and on the New York Stock Exchange under the symbol "CMZ".
Stylus is a Calgary based junior oil and natural gas company with
operations in Alberta. The common shares of Stylus are listed on the Toronto
Stock Exchange and trade under the symbol "STY".
%SEDAR: 00003803E %CIK: 0001043572
For further information:
For further information: Compton Petroleum Corporation, E.G. Sapieha,
President and Chief Executive Officer or N.G. Knecht, Vice President, Finance
and Chief Financial Officer, Telephone: (403) 237-9400, Facsimile: (403)
237-9410, Email: firstname.lastname@example.org, Website: