Equatorial Energy announces flow-through financing

Canadian junior oil firm Equatorial Energy Inc. announced on Friday that it had agreed to a private placement of up to C$ 1,500,000 flow-through common shares at a price of $2.00 per share.

Closing is anticipated to be on or about December 18, 2001.

Equatorial is a Calgary based independent junior oil & gas company engaged in the acquisition, exploration and development of petroleum and natural gas in western Canada and Indonesia.

Equatorial has an 80 percent interest in the Sembakung technical assistance contract (TAC) oil field in northeast Kalimantan, Tanjung Lontar TAC and Kruh TAC in the southern part of Sumatra. (alex)