CEI Coelacanth Energy Inc

CALGARY, Dec. 30, 2011 /CNW/ - Carmen Energy Inc. ("Carmen" or the "Corporation") is pleased to announce that it has completed the first tranche of its previously announced public offering of: (i) up to 11,111,111 common shares issued as "flow-through shares" pursuant to the Income Tax Act (Canada) ("Flow-Through Shares") at a price of $0.27 per Flow-Through Share and (ii) up to 13,043,478 units ("Units") at a price of $0.23 per Unit (the "Offering"). Each Unit will be comprised of one common share of the Corporation (a "Common Share") and one half of one Common Share purchase warrant (each whole warrant a "Warrant"). The Offering is being conducted pursuant to the terms of an agency agreement ("Agency Agreement") dated as of November 22, 2011 between the Corporation and Macquarie Private Wealth Inc. (the "Agent"). The first tranche closed with the issuance of 1,301,777 Flow-Through Shares and 3,308,282 Units for aggregate gross proceeds of $1,112,385.  Additional closings, if they occur, shall occur at any time agreed upon by the Corporation and the Agent provided that such closing(s) occur prior to March 12, 2012. In addition, concurrently with the first tranche closing of the Offering, Carmen privately placed 1,604,348 Units (the "Concurrent Private Placement") for aggregate gross proceeds of $369,000. The Common Shares and Warrants comprising the Units issued pursuant to the Concurrent Private Placement will be subject to a statutory four month and one day hold period. About Carmen Energy Inc. Carmen is based in Calgary, Alberta and a publicly traded oil and gas exploration and production company. The focus is on exploration and development of Western Canadian Sedimentary Basin based oil and gas properties. The current projects are the Jumpbush properties in south eastern Alberta, the Ferrybank properties in central Alberta, the Sylvan Lake area properties in Southern Alberta, the Viking-Kinsella properties in Alberta and the Hamburg properties in northern western Alberta. ON BEHALF OF THE BOARD OF DIRECTORS Advisory Regarding Forward-Looking Information and Statements This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "will", "expects", "believe", "plans", "potential" and similar expressions are intended to identify forward-looking statements or information. Specifically, this news release contains forward looking statements relating Offering and the Concurrent Private Placement, including regarding the occurrence of any additional closing(s) of the Offering and Concurrent Private Placement. Accordingly there is a risk that any additional closings of the Offering and Concurrent Private Placement will not be completed within the anticipated time or at all. Management has included the above summary of assumptions and risks related to forward-looking information provided in this press release in order to provide securityholders with a more complete perspective on Carmen's future operations and such information may not be appropriate for other purposes. The forward-looking statements and information in this press release are based on certain key expectations and assumptions made by Carmen. Although Carmen believes that the expectations and assumptions on which such forward looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because Carmen can give no assurance that they will prove to be correct. The forward-looking statements and information contained in this press release are made as of the date hereof and Carmen undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release. Carmen Energy Inc CONTACT: Mr. Brian Doherty, President, CEO and Director Contact: brian.doherty@carmenenergy.ca; (403) 537-5590

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