Oryx Petroleum Corporation Limited Files Supplemented PREP Prospectus and Announces Pricing of Initial Public Offering

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CALGARY, May 8, 2013 /CNW/ - Oryx Petroleum Corporation Limited ("Oryx Petroleum") announced today that it has filed a supplemented PREP prospectus with the securities regulatory authorities in each of the provinces of Canada, other than Quebec, in connection with its initial public offering (the "Offering") of 16,700,000 common shares, at a price of CAD$15.00 per common share. The Offering will result in aggregate gross proceeds of approximately CAD$250,500,000.  A copy of the supplemented PREP prospectus will be available on SEDAR (www.sedar.com and Oryx Petroleum's website www.oryxpetroleum.com).

The Offering is underwritten by a syndicate of underwriters (collectively, the "Underwriters") led by RBC Capital Markets, Barclays Capital Canada Inc., Merrill Lynch Canada Inc. and BMO Capital Markets, as joint bookrunners, and includes Credit Suisse Securities (Canada), Inc., Scotiabank, FirstEnergy Capital Corp., Raymond James Ltd., UBS Securities Canada Inc., BNP Paribas (Canada) Securities Inc., and Standard Bank Plc.

Oryx Petroleum has granted the Underwriters an over-allotment option (the "Over-Allotment Option"), exercisable for a period of 30 days after the closing date of the Offering, to purchase up to an additional 2,505,000 common shares at the offering price solely to cover over-allotments, if any, made by the Underwriters in connection with the Offering and for market stabilization purposes.  If the Over-Allotment Option is exercised in full, the aggregate gross proceeds to Oryx Petroleum under the Offering will increase to approximately CAD$288,075,000.

Oryx Petroleum has received conditional approval for the listing of its common shares on the Toronto Stock Exchange (the "TSX"), subject to the fulfillment of all of the listing requirements of the TSX.  Trading of Oryx Petroleum's common shares under the symbol "OXC" on a "when issued" basis is expected to commence on or about May 9, 2013.  Regular trading of the common shares will begin after the closing of the Offering, which is scheduled to take place on or about May 15, 2013, subject to customary closing conditions.

ABOUT ORYX PETROLEUM CORPORATION LIMITED

Oryx Petroleum is an international oil exploration company focused in Africa and the Middle East. Oryx Petroleum was founded in 2010 by The Addax and Oryx Group Limited and key members of the former senior management team of Addax Petroleum Corporation. Oryx Petroleum has interests in seven license areas prospective for oil and is the operator or technical partner in four of the seven license areas. Three license areas are located in the Kurdistan Region and the Wasit governorate (province) of Iraq and four license areas are located in West Africa in Nigeria, the AGC administrative area offshore Senegal and Guinea Bissau, and Congo (Brazzaville).

ABOUT THE ADDAX AND ORYX GROUP

The Addax and Oryx Group Limited was incorporated in 1987, with a focus on energy in Africa, and has evolved into a diversified investment group, known simply as AOG. AOG invests in three key areas: energy, commercial real estate and other capital investments. AOG's energy investments include: (i) Oryx Petroleum; (ii) an integrated trading and downstream platform, Oryx Energies, active in petroleum and refined products trading, refined products storage and distribution, and specialized products/services including LPG, lubricants, bitumen and bunkering, across sub-Saharan Africa; and (iii) Addax Bioenergy, a company developing a greenfield project to produce sugarcane bioethanol and "green" electricity from the biomass in Sierra Leone. AOG's real estate arm, AOG Real Estate, invests in commercial real estate properties in Western Europe and North America either directly, with partners or via specialized public equity funds. AOG Capital Investment focuses on generating higher returns than real estate, mainly through selected funds focusing on its preferred sectors and/or countries.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities in the United States, in any province or territory of Canada or in any other jurisdiction. The securities to be offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws and may not be offered or sold in the United States absent registration or absent an applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. There shall be no sale of the securities in any jurisdiction in which an offer to sell, a solicitation of an offer to buy or sale would be unlawful.

Forward-Looking Statements

Certain statements made herein contain forward-looking information, including statements concerning the commencement of trading of the common shares, the closing date of the Offering and the exercise of the Over-Allotment Option. Although Oryx Petroleum believes these statements to be reasonable, the assumptions upon which they are based may prove to be incorrect. Furthermore, the forward-looking statements contained in this press release are made as at the date of this press release and Oryx Petroleum does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

SOURCE: Oryx Petroleum Corporation Limited

Mr. Craig Kelly
Chief Financial Officer
Tel.: [phone]
[email protected]
 
Scott Lewis
Head of Corporate Finance
Tel.: [phone]
[email protected]