NuVista Energy Ltd. Announces Completion of Acquisition and Re-Filing of Annual Information Form
CALGARY, ALBERTA--(CCNMatthews - April 2, 2007) - NuVista Energy Ltd. (TSX:NVA) ("NuVista") is pleased to announce that it has completed the previously announced acquisition of certain natural gas properties concentrated in our Central Alberta core area. The net cost of the acquisition, after closing adjustments, was approximately $34 million and was funded with borrowings from NuVista's bank facilities. Concurrent with this acquisition, NuVista increased the maximum availability of its bank facilities to $220 million.
NuVista has also re-filed its Annual Information Form to change the date of the Annual Information Form to March 30, 2007 from March 15, 2007. The Annual Information Form includes NuVista's reserves data and other oil and gas information for the year ended December 31, 2006 and has been re-filed with the Canadian securities regulatory authorities on the System for Electronic Document Analysis and Retrieval ("SEDAR"). An electronic copy of this document may be obtained on NuVista's SEDAR profile at www.sedar.com
or on the NuVista website at www.nuvistaenergy.com
NuVista is an independent Canadian oil and natural gas exploration, development and production company with its common shares trading on the Toronto Stock Exchange under the symbol "NVA".
Corporate information provided herein contains forward-looking information. The reader is cautioned that assumptions used in the preparation of such information, which are considered reasonable by NuVista at the time of preparation, may be proven to be incorrect. Actual results achieved during the forecast period will vary from the information provided herein and the variations may be material. There is no representation by NuVista that actual results achieved during the forecast period will be the same in whole or in part as those forecast.