FPL First Calgary

    First Calgary Petroleums Ltd. closes on portion of over-allotment

    option

 

    /NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR

    DISSEMINATION IN THE UNITED STATES/

 

    CALGARY, May 19 /CNW/ - First Calgary Petroleums Ltd. ("FCP") (TSX: FCP,

AIM: FPL) announces that further to its recent common share offering where

19,340,000 common shares were issued on April 18, 2006, today FCP has issued

an additional 105,636 common shares, also at $9.00 per share, following the

exercise of a portion of the over-allotment option (the "Over-Allotment

Option") granted to Canaccord Capital Corporation, the underwriter of the

recently completed public offering. The balance of the Over-Allotment Option,

whereby Canaccord had the right to acquire approximately 2,800,000 additional

shares, has been terminated and will not be exercised. Total gross proceeds

from the issuance of the 105,636 common shares were CDN$950,724.

    The common shares are listed and posted for trading on the Toronto Stock

Exchange under the symbol "FCP" and admitted to trading on AIM under the

symbol "FPL". Application has been made to AIM for the shares that were issued

today to be admitted and dealings are expected to commence on May 24, 2006.

 

    This news release includes statements about expected future events and

financial results that are forward looking in nature and subject to risks and

uncertainties. First Calgary Petroleums Ltd. cautions that actual performance

may be affected by a number of factors, many of which are beyond its control.

Future events and results may vary substantially from what First Calgary

Petroleums Ltd. currently foresees.

    This news release shall not constitute an offer to sell or the

solicitation of an offer to buy securities in any jurisdiction. The Common

Shares will not and have not been registered under the United States

Securities Act of 1933 and may not be offered or sold in the United States

absent registration or an applicable exemption from the registration

requirements.

   

    For further information: First Calgary Petroleums Ltd., Richard G.

Anderson, President and CEO or John van der Welle, Finance Director and CFO,

Tel: (403) 264-6697, Website: www.fcpl.ca; European contacts: James Henderson,

Pelham Public Relations, Tel: +44 (0) 207 743 6673; Carina Corbett, 4C -

Burvale Limited, Tel: +44 (0) 207 907 4761.

    (FPL FCP.)



END

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