FPL First Calgary

First Calgary Petroleums Ltd. closes bought deal First Calgary Petroleums Ltd. closes bought deal financing CALGARY, Dec. 3 /CNW/ - First Calgary Petroleums Ltd. (the "Company" or "FCP") announces the Company has closed the previously announced common share issuance of 6,000,000 shares at a price of Cdn. $14.46 per share, resulting in gross proceeds of approximately Cdn. $86.76 million (4,637,192 common shares at pnds stlg 6.50 per share and 1,362,808 common shares at Cdn. $14.46 per share). Canaccord Capital Corporation, in conjunction with its affiliate, Canaccord Capital (Europe) Limited, acted as underwriter for this offering. First Calgary Petroleums Ltd. is a Canadian oil and gas exploration company actively engaged in international exploration and development activities in Algeria. The Company's 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: Richard G. Anderson, President and CEO, First Calgary Petroleums Ltd., Tel: (403) 264-6697, Website: www.fcpl.ca; European contacts: Jim Joseph, College Hill, Tel: +44 (0) 207-457-2020; Carina Corbett, 4C Communications Ltd., Tel: +44 (0) 207-907-4761 (FCP.) END

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