Petromin Resources Ltd.: News Release
Friday, 19 October 2007VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 19, 2007) - Petromin Resources Ltd. (the "Company") (TSX VENTURE:PTR) is pleased to announce that, further to its news release dated September 26, 2007, the Company has increased its non-brokered private placement from 5,664,000 common shares to 5,867,000 common shares, at the same price of $0.38 per share, for total gross proceeds of CDN$2,229,460. The private placement is subject to TSX Venture Exchange approval.
The Company also announces that further to its news release of September 10, 2007, regarding the proposed acquisition of an interest in Terra West Energy Corporation, the Company will be acquiring a direct 32% interest in Terra West, with the balance (48%) being acquired by a Hong Kong company. Due diligence by the Company continues, and the closing date has been extended (expected to close on or about November 19, 2007).
On Behalf of the Board of Directors
Kenny W. Chan, Co-Chairman and Chief Executive Officer