Corcel Regulatory News (CRCL)

Caracal and Glencore Arrangement Agreement - Share Purchases CALGARY, April 30, 2014 /CNW/ - Caracal Energy Inc. ("Caracal" or the "Company") (LSE:CRCL) announces that Glencore International AG ("Glencore") asubsidiary of Glencore Xstrata plc has disclosed that it has today acquired,through a subsidiary 8682321 Canada Inc., 2,246,494 common shares of Caracal,representing 1.53% of Caracal's outstanding common shares. The acquisitionbrings Glencore's total beneficial ownership, directly or indirectly, inCaracal to 21,185,914 common shares (representing approximately 13.82% ofCaracal's outstanding common shares assuming the conversion of Glencore's US$40million principal amount of Caracal convertible bonds due September 2017). On anon-diluted basis, Glencore's total beneficial ownership, directly orindirectly, in Caracal is 14,596,128 shares which is approximately 9.95% ofCaracal's current outstanding shares. The acquired shares were purchasedthrough the facilities of the London Stock Exchange at a price of GBP5.50(C$10.17 per common share assuming exchange rate of 1:1.85). This furtheracquisition of shares brings Glencore's total acquisition of Caracal commonshares since April 14, 2014 to 12,400,000 shares, representing 8.45% ofCaracal's outstanding common shares on a non-diluted basis. On April 14, 2014, Caracal entered into an arrangement agreement (the"Arrangement Agreement") pursuant to which Glencore, through a wholly-ownedsubsidiary, would acquire all of the outstanding Caracal common shares at aprice of GBP5.50 per common share in cash pursuant to a plan of arrangementunder the Canada Business Corporations Act (the "Arrangement"). Pursuant to the Arrangement Agreement (as amended and restated on April 24,2014) Glencore and affiliates are entitled to acquire additional Caracal commonshares through purchases over a stock exchange up to 8.6% of the outstandingCaracal common shares on a non-diluted basis. Glencore intends to vote the Caracal common shares acquired and all othershares owned by Glencore, directly or indirectly, in favour of the Arrangementat the special meeting of Caracal shareholders at which the Arrangement isvoted upon. Glencore may acquire additional Caracal common shares to the extentpermitted by the Arrangement Agreement. About Caracal Energy Inc. Caracal Energy Inc. is an international exploration and development companyfocused on oil and gas exploration, development and production activities inthe Republic of Chad, Africa. In 2011, the Company entered into threeproduction sharing contracts ("PSCs") with the government of the Republic ofChad. These PSCs provide exclusive rights, along with its partners, to exploreand develop reserves and resources over a combined area of 26,103 km2 insouthern Chad. The PSCs cover two world-class oil basins with oil discoveries,and numerous exploration prospects. The Company's shares trade on the London Stock Exchange under the symbol CRCL. SOURCE: Caracal Energy Inc. For further information: Caracal Energy Inc.Gary Guidry, President and Chief Executive OfficerTrevor Peters, Chief Financial Officer+1 403-724-7200 Longview Communications - Canadian Media EnquiriesAlan Bayless+1 604-694-6035Joel Shaffer+1 416-649-8006 FTI Consulting - UK Media EnquiriesBen Brewerton / Ed Westropp+ 44 (0) 207 8313 3113caracalenergy.sc@fticonsulting.com