New Issue: Kereco completes C$21.98 million sale of flow-through shares

By Sheri Kasprzak

New York, June 8 - Kereco Energy Ltd. wrapped a C$21,975,000 private placement.

The company sold 1.5 million flow-through shares at C$14.65 each.

The offering was placed through a syndicate of underwriters led by GMP Securities LP and Tristone Capital Inc. and including Canaccord Adams Inc., FirstEnergy Capital Corp., Sprott Securities Inc., Orion Securities Inc., Salman Partners Inc., BMO Nesbitt Burns Inc., and CIBC World Markets Inc.

Proceeds will be used for the company's 2006 and 2007 exploration programs.

Kereco, based in Calgary, Alta., is an oil and natural gas exploration company.

Issuer:	Kereco Energy Ltd.
Issue:	Flow-through shares
Amount:	C$21,975,000
Shares:	1.5 million
Price:	C$14.65
Warrants:	No
Underwriters:	GMP Securities LP (lead), Tristone Capital Inc. (lead), Canaccord Adams Inc., FirstEnergy Capital Corp., Sprott Securities Inc., Orion Securities Inc., Salman Partners Inc., BMO Nesbitt Burns Inc., and CIBC World Markets Inc.
Settlement date:	June 8
Stock symbol:	Toronto: KCO
Stock price:	C$10.25 at close June 8

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