FPL First Calgary

    Attention Business Editors:

    First Calgary Retains Financial Advisers

 

    TSX: FCP   LSE: FPL                                                      

 

    CALGARY, Oct. 29 /CNW/ - First Calgary Petroleums Ltd. ("FCP" or the

"Company") is pleased to announce that it has retained Lehman Brothers as

financial adviser to assist the Company in seeking and evaluating strategic

alternatives. In addition, FCP has retained Canaccord Capital (Europe) Limited

to act as strategic adviser.

    FCP's review of strategic alternatives may include the consideration of a

number of transactions, including an outright sale of the Company, a strategic

partnership for the development of FCP's Algerian assets as well as potential

capital markets opportunities. There can be no assurance that any transaction

will be entered into or completed as a result of this process.

    First Calgary Petroleums Ltd. is an oil and gas exploration company

actively engaged in international exploration and development activities in

Algeria. Our common shares trade on the Toronto Stock Exchange in Canada (FCP)

and on the AIM market of the London Stock Exchange in the UK (FPL).

 

    This news release includes statements about expected future events and

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

uncertainties. FCP 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.

                               

    For further information: contact: Richard G. Anderson, President and

CEO, First Calgary Petroleums Ltd., Tel: (403) 264-6697 or: Lehman Brothers

(Europe) Ltd, Carlos Fierro, Managing Director, Co-Head European Mergers &

Acquisitions, +44 20 7102-4955, cfierro(at)lehman.com; Christopher Pilot,

Executive Director, Global Natural Resources, +44 20 7102-2376,

cpilot(at)lehman.com

 

    (FCP.) FPL

 

 

 

 

 

 

 

 

 

 



END

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