Raimount Energy Inc. (the "Company") - Completion of Rights Offering

    CALGARY, Dec. 3 /CNW/ - The Company has successfully completed its Rights
Offering (the "Offering"). Between the Initial Subscriptions and the
Additional Subscriptions, the Offering resulted in the issuance of 469,420
Common Shares and gross proceeds of $516,362.00. The costs of the Offering
were approximately $20,000.00. The net proceeds of $496,362.00 will be used by
the Company to advance operations on its oil and gas properties located near
Cardston and Innisfail, Alberta.

For further information:

For further information: regarding the foregoing, please contact:
RAIMOUNT ENERGY INC.: 2420 645 7th Avenue SW, Calgary, AB., T2P 4G8, (403)
265-6292, Gregory A. Vavra, President and CEO

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Raimount Energy Inc.

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