Bow Valley Completes Plan of Arrangement

    
    
    TSX Trading Symbol: BVX
    

CALGARY, April 30 /CNW/ - Bow Valley Energy Ltd. ("Bow Valley") (TSX - BVX) announced today that it has completed the previously announced arrangement under the Business Corporations Act (Alberta) involving Dana Petroleum plc and Dana Petroleum (E&P) Limited, a subsidiary of Dana Petroleum plc (collectively, "Dana"). Under the terms of the arrangement, Dana acquired all of the issued and outstanding common shares of Bow Valley and Bow Valley shareholders will receive $0.50 in cash for each such share.

Shareholders of Bow Valley who have not already done so should submit completed letters of transmittal and share certificates to the depositary under the arrangement, Equity Transfer & Trust Company. Payment to shareholders will be made following the receipt of such documents.

Bow Valley is an oil and natural gas exploration, development and production company with operations in the U.K. sector of the North Sea and in Alaska. The common shares of Bow Valley trade on the TSX under the symbol BVX. Additional information relating to Bow Valley may be found on the SEDAR website at www.sedar.com.

Certain information included in this news release may constitute forward-looking information under applicable securities legislation. Forward-looking information typically contains statements with words such as "anticipate", "believe", "expect", "forecast", "plan", "intend", "estimate", "propose", or similar words suggesting future outcomes or statements regarding an outlook. Although Bow Valley believes that the expectations reflected in such forward-looking information is reasonable, undue reliance should not be placed on forward-looking information because Bow Valley can give no assurance that such expectations will prove to be correct. Forward-looking information is based on current expectations, estimates and projections that involve a number of risks and uncertainties which could cause actual results to differ materially from those anticipated by Bow Valley and described in the forward-looking information. The forward-looking information contained in this news release is made as of the date hereof and Bow Valley undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward looking information contained in this news release is expressly qualified by this cautionary statement.

Contacts

Bow Valley Energy Ltd.
Robert G. Moffat
President and Chief Executive Officer
or C.W. Leigh Cassidy
Vice President
Chief Financial Officer
Phone (403) 232-0292
www.bvenergy.com