Big Sky Energy Announces the Closing of US $26.5 Million of Escrow Funds.CALGARY, Alberta -- Big Sky Energy Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :BSKO) (the "Company") announced today that it has received waivers from investors allowing it to close on US$26,512,500 of funds which were held in escrow escrow Instrument, such as a deed, money, or property, that constitutes evidence of obligations between two or more parties and is held by a third party. It is delivered by the third party only upon fulfillment of some condition. . As a result the Company completes a previously announced private placement, raising a total of US$42,000,000. The proceeds of this financing will contribute to the Company's ongoing exploration, development, and drilling operations, to the expansion of the Company's activities in Kazakhstan, and to general corporate purposes. Big Sky Energy Corporation is an international oil and gas company looking to develop assets in the world's most prolific basins in order to become a leading low-cost finder finder, in law. Ordinarily the finder of lost property is entitled to retain it against anyone except the owner. It is larceny, however, for the finder to keep the property if he knows or can easily determine who owns it. of hydrocarbons hydrocarbons (hīˈ·drō·kärˑ·b  nz),n. . The Company is currently producing from Kazakhstan's renowned pre-Caspian Basin. NOTE: The information contained in this press release contains forward looking statements which are based on the current expectations of the management of Big Sky Energy Corporation only, and actual results may differ materially. For a more detailed discussion of risks and other factors related to Big Sky Energy Corporation, please refer to its Form 10-KSB and Form 10-QSB reports, as filed with the U.S. Securities and Exchange Commission. Big Sky Energy Corporation (OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. :BSKO) |
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