EDMONTON, May 13 /CNW/ - PetroCorp Group Inc. (NEX: PCGH) ("PetroCorp") is pleased to announce that it has entered into a stand-by purchase agreement (the "Stand-By Agreement") in connection with PetroWest Energy Services Trust's (the "Trust") previously announced rights offering (the "Offering"). Pursuant to the Stand-By Agreement, PetroCorp has agreed to purchase a minimum of $1,500,000 of trust units of the Trust (the "Units") and up to a maximum of $2,500,000 of Units. PetroCorp is acting as part of a total stand-by commitment for $7,500,000 of Units not otherwise subscribed for under the Offering.
Neither the NEX, nor its Regulatory Services Provider (as that term is defined in the policies of the NEX) accepts responsibility for the adequacy or accuracy of this release.
SOURCE PETROCORP GROUP INC.
For further information: For further information: please contact Ian Hogg, Investor Relations, at (780) 822 -6753; or Randy Fries, Interim Chief Financial Officer at (780) 822-6752