ARAPAHOE ENERGY CORPORATION ("Arapahoe" or the "Corporation") (TSX VENTURE:AAO - News) is pleased to provide the following reserve and other oil and gas information regarding First West Petroleum Inc. ("First West").
Arapahoe and First West entered into a non- arm's length letter agreement to effect a business combination (the "Transaction") whereby Arapahoe will acquire all of the outstanding common shares of First West in exchange for common shares of Arapahoe. The Transaction will result in First West shareholders receiving 10.415 common shares of Arapahoe for each First West common share held. Upon completion of the Transaction and the associated financings, former shareholders of First West are anticipated to collectively hold approximately 38.7% of the outstanding common shares of Arapahoe. Please refer to Arapahoe's news release dated October 19, 2007 for additional information regarding First West and the Transaction.
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