CALGARY, ALBERTA--(CCNMatthews - Aug. 18, 2006) - FairWest Energy Corporation (TSX:FEC) ("FairWest") is pleased to announce its intention to offer a private placement offering to raise up to $3,700,000. The details of the offering are: 1) Up to 4,000,000 flow through common shares ("Flow Through Shares") at a price of $0.65 per Flow Through Share, for gross proceeds of up to $2,600,000, and 2) Up to 2,000,000 common shares ("Shares") at a price of $0.55 per Share, for gross proceeds of up to $1,100,000.
It is anticipated that the private placement will close on or prior to September 30, 2006.
FairWest Energy Corporation (Toronto: TSX: FEC) is a Calgary, Alberta based junior oil and gas company engaged in the acquisition, exploration, development and production of crude oil and natural gas in the provinces of Alberta and Saskatchewan.
FOR FURTHER INFORMATION PLEASE CONTACT:
FairWest Energy Corporation
James G. Gettis
President and Chief Executive Officer
(403) 264-4949
(403) 269-1761 (FAX)
FairWest Energy Corporation
Marion D. Mackie
Chief Financial Officer
(403) 264-4949
(403) 269-1761 (FAX)
