New Issue: Zapata Energy settles C$6.61 million private placement of units, stock

By Devika Patel

Knoxville, Tenn., Jan. 29 - Zapata Energy Corp. said it completed a C$6.61 million private placement of units and stock. The deal was announced Dec. 23.

The company sold 1,344,399 units at C$3.00 per unit. Each unit consists of one common share and one half-share warrant. The whole warrants are exercisable at C$4.00 until Dec. 23, 2010.

The company also sold 757,000 flow-through shares at C$3.40 apiece.

Zapata is a Calgary, Alta.-based oil and natural gas exploration, development and production company.

Issuer:	Zapata Energy Corp.
Issue:	Units of one common share and one half-share warrant, flow-through shares
Amount:	C$6,606,997
Settlement date:	Jan. 29
Stock symbol:	TSX Venture: ZCO
Stock price:	C$3.05 at close Jan. 29
Market capitalization:	C$50.8 million
Units
Amount:	C$4,033,197
Units:	1,344,399
Price:	C$3.00
Warrants:	One half-share warrant per unit
Warrant expiration:	Dec. 23, 2010
Warrant strike price:	C$4.00
Shares
Amount:	C$2,573,800
Shares:	757,000
Price:	C$3.40
Warrants:	No

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