CALGARY, Sept. 5 /CNW/ - Black Diamond Offshore Ltd. and Double Black Diamond Offshore Ltd. (collectively, the "Offeror") announced today that, as a result of the acquisition by Ember Resources Inc. ("Ember") of all of the issued and outstanding shares of Cordero Energy Inc., the Offeror now owns 15,969,849 common shares of Ember, representing 12.44% of the issued and outstanding common shares of Ember. The Offeror's holdings of common shares of Ember result from:
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(a) 2,446,811 common shares of Ember held prior to the completion of the
Cordero transaction;
(b) the conversion of 7,317,073 subscription receipts of Ember into
common shares of Ember as a result of the completion of the Cordero
transaction; and
(c) the exchange of 3,338,000 common shares of Cordero held by the
Offeror into approximately 6,205,966 common shares of Ember as a
result of the completion of the Cordero transaction.
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The number of common shares of Ember resulting from the exchange of common shares of Cordero pursuant to the Cordero transaction is based on the information contained in the press release of Ember dated September 5, 2008. All references in this press release to shares of Ember are given before giving effect to the announced consolidation of the shares of Ember.
The Offeror intends that the common shares will be held for investment purposes. The Offeror may increase or decrease beneficial ownership or control depending on market or other conditions.
In connection with this news release an early warning report will be filed by the Offeror in accordance with applicable securities laws.
For further information: To obtain a copy of the early warning report please contact: Steven J. Pully, Carlson Capital, L.P., 2100 McKinney Avenue, Suite 1600, Dallas, Texas, 75201, Telephone: (214) 932-9600, Fax: (214) 932-9601
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