New Issue: High Plains Energy completes C$8.58 million stock sale

By Sheri Kasprzak

New York, Jan. 3 - High Plains Energy Inc. said it wrapped a C$8,578,892 private placement.

The company sold 2,556,000 shares at C$1.00 each and 5,019,077 flow-through shares at C$1.20 each.

Proceeds from the non-brokered offering will be used for the company's 2006 expenditure program, including drilling, developing existing properties, acquiring seismic data and reducing bank debt.

Based in Calgary, Alta., High Plains is an oil and natural gas exploration company.

Issuer:	High Plains Energy Inc.
Issue:	Flow-through and non flow-through shares
Amount:	C$8,578,892
Placement agent:	Non-brokered
Settlement date:	Jan. 3
Stock price:	C$1.37 at close Jan. 3
Flow-through shares
Shares:	5,019,077
Price:	C$1.20
Warrants:	No
Non flow-through shares
Shares:	2,556,000
Price:	C$1.00
Warrants:	No

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